I Tried to Sell $10,000 in Gold to Coin Shops... SHOCKING Results!

You should also be asking if they pay in cash and require a social security number- you DO NOT WANT A CHECK OR GIVE UP YOUR SS NUMBER FOR TAXES COULD INVOLVE A 1099 form later-

would it have been that hard to do the math and add what percent of spot to all the offers 😂 my ocd is flaring up now

Also keep in mind over the phone may just be to get you in the door and may not even be the actual price they would pay.

So would it be better by buy a bar it seems like alot off those shops don't care if it's a coin or not

Not sure why anyone is surprised u don’t get spot or more. These places are a biz and have bills

My 4-5 local coin stores all offered from $1800-$1990 for American gold eagle 1 oz. Rediculous. Spot is at $2035

Sell back or on line😮

Gold Prices go up and down.... Shop needs to make a profit... i do not understand...??

They're all rip offs. We have to pay $130 over spot and they want to pay us $70 under spot making them $200 a coin.

A lot of these gold buyers were paying around 1600 or less a couple years ago. They should charge spot now when its 2060$ an oz

Wow that’s wild, the shop in my area payed over spot for Pandas when i sold them!

So how do the shops make money if they pay you spot?

How can I make a list of shops here in Miami fl

I came here to hear all the dealers sound like keebler elves. Lol. Great video, however

lol right now a 1 oz american eagle on apmex with cash is $2,624.05 one year later...

That's crazy! It took four shops to find a place that would pay a fair price. I don't see how gold is a good investment. Thanks for the insight.

wow 2022... should've backed the truck up :)

This video should be mandatory for new comers.

The last one sounded like mick mouse

I don't get all the hateful comments, some shops are trying to make $100 profit others $200 it's not a matter of their integrity it's just a business strategy will they be able to move more than twice the weight if they cut their profit percentages in half? The answer varies depending on the shop location, their current inventory and available capital and local competition. It doesn't make you a crook to be a patient investor who only buys what he can get for cheap.

A $100 bill from 30 yrs ago will still pay off a one hundred dollar debt today. Forget this gold business.

I don’t think people understand that these shops have to make money as well.

YELLOW Gold & white silver.

I’d always prefer to sell to another stacker than a shop
If not, I’d just keep it for longer

When selling precious metals you don't just to the first shop you found...you could be robbed or you could be lucky.
I wanted to sell a 22k car holding key chain few yrs back .
Went go 4 shops;
First offered me me €475 i became greedy i rejected.
2nd €410
3rd €325
4rth it s gold played i give you €175
So as you guess sold it to the first one

Good channel.

Thanks, this was very helpful. I'm just educating myself at this point, and now I have a better idea of what to expect when it comes time to sell, including that one must shop around. I'm guessing that's harder to do when one isn't in a major metropolis.

Thanks for doing these videos they're very helpful

I guess I got lucky cuz I sold a handful of small silver to a pawnshop and got all my money back.

i was wondering i have 20 one once coins my friend told me melt them and turn the coins to a good size bar and sell it is this a good idea

Getting spot is rare

This makes me angry why isn’t there more regulation on what shops can pay you especially when spot is $2300 and they want to rip you off for almost $800 what’s up with that?

And I got 999.9

Under melt price is insane considering these all sold for a premium over.

Certainly can't begrudge a shop offering a low price, they've got bills to pay. Also they are offering hassle free cash today, which is worth something.

thank you for this video

Shop 2 is scum

1650 a coin was pretty good back then no ?

This seems like a scam like what’s the point of having a spot price at all? I started stacking and I am getting frustrated trying to sell and always getting lowballed

Do you pay taxes when u buy cash

The first shop guy he rang , was straight up and did not sound eager for gold or money

Strange, I checked 3 internet sites, they pay about 50% on spot value.

Very informative, especially about the Eagles not being pure gold. Results replicate pretty much what I found, it pays to shop around for buyers. Also slabbed coins are not worth the premium you pay when buying them.

What is "spot"?

Forget shop 5

when you try to make extra money actually you end up lose Money , some dealers are " very crook " specially Dimond jewelry and Gold coins can end of switched with Fake ones while he take back room or ask you live for assessment , dangerous nature of these business . You Can not Prove anything after you Lose your valuable assed .

I can do better with investing in the market!

Investing in gold coins no more!😢

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