First time selling gold.

[JonathanH94]

Hello all,

I’m going to sell two 1oz golden Britannia’s online soon. I just have the coins as they came from the retailer, in a tube with no seal or documentation. This is my first time selling precious metals and have no demonstrable authenticity to any potential buyers. So I find myself in a bit of a catch 22.

What assurances can I offer the market? PayPal buyer protection and Royal Mail Special Delivery come to mind. Can I offer any kind of third party guarantee without eating into a fair price for both parties?

thanks,

Jonathan.

[Lr103]

Hi @JonathanH94,

I personally think the intermediary service offered by @BackyardBullion is a good solution until you build up a reputation as a seller. It’s an understandable catch 22 that a good reputation helps you sell, and you can’t get a good reputation until you get some sales under your belt. 

Best of luck with the sales!

[Tn21]

Yes BYB offers an intermediary service which you can utilise. 

Alternatively you can put an established buyers mind at ease buy offering to send the coin via SD first and take payment once delivered. Slight risk on your part but established forum members will honour their debt without hesitation. 

 

[Abyss]

Take photos of the coin while using digital scale and calliper. If you have built up a seller profile on eBay / Facebook groups / on the forum use these platforms (each one has it pros and cons) in the past I have used all three to sell large quantities of my metals. Don’t have enough feedback on large ticket items on these platforms list it on the forum. May have ship coin before payment to long established members. Alternatively as mentioned use

Sell back to bullion dealer only going to get spot or 1 or 2 percent under spot and you have to pay for postage. It is always best to sell privately and obtain the best possible price.

[dicker]

Agree with the above.  Use BYB intermediary and build up some feedback.  
 

Alternatively sell to a trusted member and send the coin “on approval” then take payment when the member is happy with the coin.  

[modofantasma]

Something that I didn't see mentioned yet and whilst it might be a deviation from your plan, if you have the time, sell some smaller bits and pieces on the forum to build some feedback first. Whilst I'm not really interested in selling my gold in the short term, moving on some items every now and again just builds some feedback for when I might need or want to sell in the future