American Buffalo Gold Proof Coins Shop

Question by rolex452: Selling gold to a dealer...how much do you lose?
Re: a one ounce, pure 24kt gold coin (American Buffalo)..this not only has the gold value, but added value as a coin, and more added value in proof condition. But by the time a dealer gets through with his fees and profit-taking for buying the coin, you end up with LESS than the actual value of the ounce of gold...its selling somebody money at a discount so they can re-sell the same money for a big profit.

Question: does anybody know the structure of the fees and profit margins involved in a dealer buying gold from a private party? What criteria do they use when giving us a price (always less than the actual value of the gold)? Thanks for any info.

Best answer:

Answer by Credic J
Coins are only worth slightly more than actual gold because of their production and marketing costs. If the coin is damaged and has no value as a collectors piece, you can sell it to an refiner for gold market prices. http://www.goldintomoney.com for a list of online refiners.

If the coin still has value as a collector's piece, then I don't know why a dealer would take fees, unless they sell it off. If they're just buying it then it shouldn't cost you anything for that. If you're paying them to flip the coin for you, then I can see why they take a %.

Know better? Leave your own answer in the comments!
[wprebay kw="american+buffalo+one+ounce+gold+proof+coin" num="6" ebcat="11116"]
[wprebay kw="american+buffalo+one+ounce+gold+proof+coin" num="7" ebcat="11116"]
[wprebay kw="american+buffalo+one+ounce+gold+proof+coin" num="8" ebcat="11116"]

Originally posted 2010-10-04 20:57:05. Republished by Blog Post Promoter

Question by goldmoderncoins: I purchased several 2007 W Buffalo Coins - How long until I can break even selling them?
I purchased eight 2007 W Gold Buffalo Proof Coins @ the issue price of 5 each. Each coin was graded PF69 DCAM by PCGS (First Strikes). I can't believe I didn't get a single PF70...what good luck I noticed on eBay that the PF69 (even the first strikes) are only selling for 9 - 9 each right now - Does anyone know what my best bet is, to sell them at a loss now & reinvest the money or hold them? Also, how long should I hold the coins? Any idea how long until these coins might shoot up above 5 per coin on the auction block? (I noticed several local dealers already have their coins priced at 0 or 0). Thanks in advance for any advice.

Best answer:

Answer by westfield47130
wait for about 20 years.

What do you think? Answer below!
[wprebay kw="2007+buffalo+proof+coin" num="0" ebcat="11116"]
[wprebay kw="2007+buffalo+proof+coin" num="1" ebcat="11116"]
[wprebay kw="2007+buffalo+proof+coin" num="2" ebcat="11116"]

Originally posted 2010-08-06 16:38:59. Republished by Blog Post Promoter