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VadimS

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  1. Thanks
    VadimS reacted to Pete in Requesting advice on where best to sell gold proof coins   
    Thanks @Tn21
    I am afraid you may end up facing reality when it comes to selling proof coins that you believe are worth much more than bullion.
    I tried to sell a considerable amount of stunning, perfect gold sovereigns, boxed sets, Britannia's and boxed sets a couple of years ago.
    Firstly on the forum - I ended up selling a significant percentage but at 1% over spot only.
    I had regular buyers and they were not interested in certificates or boxes and I thought buying a boxed set would enhance their value but apparently not so.
    The best prices from any dealers were 98% of spot whilst the same sets shown on their websites at twice this price, however they were not selling at these prices and one dealer offered me to buy his boxed sets at 3% over spot, regardless of the advertised prices.
    In frustration one day I took a large carrier bag of unsold gold coin sets to Hatton Garden in London.
    Their best price that day was 97.5% of spot.
    Every coin was in FDC condition so I handed them over but kept the boxes thereby intentionally breaking up the sets.
    I only wish I had kept the screw capsules as well as I felt I was being fleeced.
    I still have a lot of empty boxes and certificates which I would rather sell at some stage rather than scrap.
    Times change, prices change, opportunities arise and decline so I can only tell you what happened to me.
    I think when gold is at a high, buyers are reluctant to pay much over spot.
    If gold plummeted 15-25% from where it is today, then I believe buyers will pay more especially for nicer coins believing they are getting a bargain.
    You might strike it lucky but I fell in love with my proof coins, was happy paying a hefty premium at the time of purchase etc. believing that a 20-30% premium over bullion would stick.
    It didn't, so I stay well clear of buying premium proofs nowadays as lesson learned.

    Some key dates and sought after coins and sets will retain a numismatic / collector premium but you need to research this thoroughly and not just look up well know sites to see what prices they list on their websites as an indicator of value. There will always be the exception to what I describe but that's down to luck and finding a buyer at the moment.
  2. Haha
  3. Thanks
    VadimS reacted to SilverPlatinum in PayPal crucifying anything related to "Cuba"!   
    😟 You know what is irony and double standard in US! That their biggest and most prestige Auction house (Heritage Auctions) is listing Cuban coins, look at this link:
    https://coins.ha.com/itm/cuba/cuba-republic-gold-proof-xi-pan-american-games-baseball-50-pesos-1990-pr68-ultra-cameo-ngc-/a/61261-98082.s?ctrack=3666686&type=featured-2-coinworld-open-61261-Venice-tem021422

  4. Like
    VadimS reacted to LawrenceChard in Are you a 22 or 24 carat kind of Guy or Gal. or person or...   
    I was deep in sleep very early this morning, when I got the eerie feeling that my name was being mentioned somewhere.
    Now I am wide awake, I can spring to the defence of my honorary title of Pedant in Chief.
    So:
    Carat and its abbreviation ct. is English.
    Karat and its abbreviations kt. and k. are Americanisms.
    American, sometimes called American English, United States English, U.S. English, is a language similar to English, used by most of the population of the North American Continent. 
    The word "carat" is used to denote the proportion of gold in its alloys, and also for the weight of diamonds and other gemstones.
    Americans use the word karat to denote the proportion of gold in its alloys, but inconsistently use the word carat for the weight of diamonds and other gemstones.
    There is an argument in favour of karat rather than carat, as both words are derived from the Greek keraton, referring to the seeds of the carob tree.
    Now, to be really pedantic, I should point out that 22ct gold is not 91.67% gold, but 91.66', where I have used ' to denote "recurring". Much depends on the use of approximation; how, when, where, and why it is used. The problem arises because base 24 numbering systems are not perfectly compatible with base 10 (decimal) systems.
    It follows from this that there are no 24ct or 24k gold coins, only coins which are approximately 24ct. Even .99999 fine gold coins like some Canadian Maples are only 23.99976ct.
    Thank you all for your mentions.
    😎
     
  5. Haha
    VadimS reacted to ArgentSmith in Platinum learning…   
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