Selling bullion gold with some imperfections back to dealer

[MoralHazard]

Hi

I was planning to sell back few RM queens beast bullion gold coins back to a German dealer. I picked a dealer that had the best buy back price for the coin that I own (lion). The price was attractive probably because they do not have this coin in stock anymore. I have not before sold any coins back to a dealer. The coins have been in my safe deposit box for as long as I have owned them and encapsulated in RM coin capsules. Some of the coins I noticed have some imperfections on the queens face. One of the coins have very noticeable scratches on the queens cheek looks as it has scrubbed hard against another coin during the minting process. Can a dealer refuse to buy the coin(s) that have imperfections even though it is in the as "new" condition from the mint when we have agreed on the price.

At least these same dealers refuse to take back these similar coins if they sell them to to a customer by just saying that they sell them in the condition received from the mint. Nowhere in their terms and condition is it explicitly said that they can back away from the agreed buy price if the coin does not meet their criteria.  We already have a binding contract on the price after I have submitted  a sell through their website. So is it legal for them being picky when buying back? Or do they even care? I do not want to end up in a situation where the coin is already in their possession and they say "sorry this coin does not meet our quality standard we will instead pay you X for this - sorry".

What do you think?

[JunkBond]

Email them pictures and confirm price maybe.

[Stu]

If they are paying above spot price which is unusual I would suspect they will want good condition coins. They should state this in their t&c's however. Like the post above says I would contact them fist to save any additional expense, time and aggravation. Any reason you do not want to sell via he forum itself?

[Pete]

Because of distance I would imagine you may enter a lengthy correspondence situation especially if the dealer is more of a coin dealer than a bullion dealer.
If they are quoting 98% of spot then I suggest you sell to HGM or Atkinsons who would most likely give you the same price.
That would save you shipping to Germany and with HGM you can expect payment into your bank the day they receive.
Bullion dealers don't factor scratches nor do they pay a higher price for proof condition, boxed or certificated coins - to them an ounce of metal is all they care about.

Perhaps take good photos of both sides and see if anyone here will buy for spot.

[WealdenWoodsman]

30 minutes ago, Pete said:

Because of distance I would imagine you may enter a lengthy correspondence situation especially if the dealer is more of a coin dealer than a bullion dealer.
If they are quoting 98% of spot then I suggest you sell to HGM or Atkinsons who would most likely give you the same price.
That would save you shipping to Germany and with HGM you can expect payment into your bank the day they receive.
Bullion dealers don't factor scratches nor do they pay a higher price for proof condition, boxed or certificated coins - to them an ounce of metal is all they care about.

Perhaps take good photos of both sides and see if anyone here will buy for spot.

Agreed. It's certainly not worth the hassle and stress sending it all the way to Germany. Atkinson's are very easy to deal with when selling bullion, I have always found them to be very quick and helpful.

[MoralHazard]

The dealer pays above spot for the lion coin. Their price for other queens beast coins is worse than they pay for lion. They do not state anything about the condition. It is a bullion coin on their website. Would be strange in my opinion if they are picky when buying coins but then when selling argue imperfections as normal for bullion coin.

[MoralHazard]

1 minute ago, WealdenWoodsman said:

Agreed. It's certainly not worth the hassle and stress sending it all the way to Germany. Atkinson's are very easy to deal with when selling bullion, I have always found them to be very quick and helpful.

I am not from UK myself so selling to Germany is the best alternative for me. They pay in the currency I want to receive the payment.

[Pete]

10 hours ago, MoralHazard said:

I am not from UK myself so selling to Germany is the best alternative for me. They pay in the currency I want to receive the payment.

My response trying to help would have been worded differently had I known you were not UK based.
Good luck getting a refund in Germany.

[MoralHazard]

39 minutes ago, Pete said:

My response trying to help would have been worded differently had I known you were not UK based.
Good luck getting a refund in Germany.

No problem. Your answer of ”good luck” sounds as if there is a problem dealing with german dealers. Did you mean this? They steal my coins and never pay me back ? ? 

I have had zero problems on the buy side and the dealer is one of the biggest ones in Germany.