How to SELL Your COSTCO Gold or Silver
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- Опубліковано 12 вер 2024
- If you recently bought gold or silver from Costco, you should know that Costco won't buy your gold or silver back, and they don't accept returns on these items.
So what do you do when it is time to sell your Costco gold or silver?
In this video for those who are newer to precious metals, we will suggest some places that will buy your gold or silver and the positives AND negatives about each of them as well as some advice that may get you more for your gold or silver. These options include:
*Individuals
*Local Coin Shops
*Online Auctions
*Online Bullion Dealers
*Pawn Shops
*Gold into Cash/ Cash into Gold Shops
We'll discuss safety, payment methods, and other concerns that will allow you to decide what your comfort level is, and what the best option may be for you.
We mention one of many websites that track the price of gold and silver as it trades around the world. You'll find one of them, Kitco, here:
www.Kitco.com
And we mention a few online bullion dealers in this video. While we can't vouch for any of them, they may be worth exploring:
Apmex : Apmex.com
Gainsville Coin : GainsvilleCoins.com
JM Bullion : JM Bullion.com
And the links to our other videos in the Costco gold and silver series:
• COSTCO Precious Metals...
If purchasing from a private party and you are meeting them in person, always meet them at a police station. Derelict thieves never want to meet there.
Yep, that's why I stressed this in the video. Anyone who refuses to meet you there is probably someone you don't want to deal with in the first place!
There is a lot of counterfeit bullion product for sale by private party’s. Always use a SIGMA tester or have a jewelry shop or coins dealer verify it’s real before handing you money over. I think a pawn shop would check it for you for a fee. Very easily cheated buying like this.
Thank you. Good recommendation.
If you want to sell your gold and silver coins and bars and you are in the Long Beach California area Liberty Coin is directly across the street from Costco at Willow Street and Cherry open 10-5pm Tuesday through Saturday! We pay immediately
We also sell way more options in gold and silver than Costco does.
Thanks for the tip and the comment. I stressed Local Coin Shops in both of my previous Costco videos (Costco Gold & Costco Silver). More options, more advice, AND the place to sell when the time comes!
Really good advice!
I used to work in a bank. The counterfeit pens do not work if the paper used for fakes has the same composition as newspaper.
Feel free to try it out. There is a chance they have changed the pen ink over the years, but its worth trying it out on your local newspaper to see if it shows that the Gazette is made of money. :-)
Great tip. I've heard that some sophisticated counterfeiters wash the ink from $1 bills and use those on fake $100s!
@@Dub-C_Coins that seems like a really effective way. That would fool bankers even I think.
That's why the large colored threads that weave through the bills now actually say which denomination they are.@@WorldMoneyWins
Cash only!
My thoughts, too. But man, it can be scary if we're talking big money!
@@Dub-C_Coins very true.
Thanks FINGERS for a good yet educational video again . 😅
😀 Click bait drives me crazy. This stuff is about as clicky as I get :)
Great review on selling! New subscriber here. I wouldn’t be surprised if Costco gets into the buy side too. Many domain name variations with Costco and gold are taken..hmm. By the way, I like the mat you are using for display..where did you get it? Nicely done reviews.
Thanks! The mat is a Navajo piece from the late 1970s or early 1980s. I mention it in my 3,000 subscriber Q&A video:
ua-cam.com/video/vE3JiOgYjTo/v-deo.html
@@Dub-C_Coins Did you do a show on best ways to store 1 oz. gold bars and coins in assay cards? Given the different sizes of the cards other than throwing them in a box or in safe which could be a pain depending on the number that you have. Curious what you and other subscribers are doing. Thanks
I appreciate the question. I actually don't care for gold bars and I especially don't care for those in assay cards. It's a bit of a controversial opinion and one I know not everyone shares. I talk about that position in my 2-part series on them:
ua-cam.com/play/PLebJigXP2OH9AHS9kiUTbI4atY-qjQwEq.html
Happy new year dub C!!
Thank you for your video. It’s very informative and thoughtful. My concern is if it is easy to sell the gold to get cash back when its price is high?
It shouldn't be hard to sell. But people will always try to pay as little as they can. So it might make sense to call a few shops to ask what they will pay, and choose the best option for you!
@@Dub-C_Coins Thanks! Now I can go for it!
Nice to meet you
This is very comprehensive information!
Thanks! Hope you found it helpful!
I don’t think you’re going to have any trouble ever selling any of that all of it looks amazing
People need to understand metals do not go up in a straight line and they need to hold them over time!
That's true. In fact metals go down constantly, too. My biggest concern with this new development (Costco and other mainstream retailers) is that these aren't small amounts of gold. A full troy ounce is a pretty heavy lift for new buyers. So if they get drawn in by the excitement and later find they just can't afford $2000 +/- all at once, in their first purchase. How do they exit this purchase in the most logical, and least costly, manner.
And also you don't need to tell nobody where you buy your goal That's it
In Albuquerque New Mexico the coin shops give you spot price for silver bummer that your City don't do the same
Some definitely do that. But I wanted new buyers/sellers to understand that's not always the case, everywhere. I'd rather they be expecting a little less than spot and be happy being offered spot, than expecting spot and being offered 10% back of spot.
If all depends on the competition. There are a lot less coin stores around these days. There’s less than 10% of them around now in my area. When I was younger 25 years ago there were at least 300 stores within a 200 mile radius of where I live.
I look on the screen and see 5 gold bars 😊 a few months back was a series of no gold bars. Hmmm,
Great eye and a good catch! But I show them in the series you mentioned, too, and indicate these very small bits and pieces are the only ones left in my stack.
ua-cam.com/play/PLebJigXP2OH9AHS9kiUTbI4atY-qjQwEq.html
Hi, you mentioned you often have sold on eBay.
What would your name be if I wanted to buy something from your eBay listing ?
WC or another user name ?
Appreciate the interest! I've opted not to mix the channel and my sales for the time being, though I know a lot of UA-camrs do.
Do you trust National Numismatic Certification Service? I looking at an auction. Thanks
It's my understanding they went out of business in the late 1980s. So I'd own an (like, 1 ) example for historical reference. But I would be very careful about how their grades compare to NGC or PCGS. This would definitely have to be a case of buy the coin and NOT the holder.
Thank you! It makes me wonder "who's" bidding it up.@@Dub-C_Coins
Prices 2400/30
I buy that silver from Costco that people don't want
For person-to-person sales: How does the buyer know the gold/silver is legit?
That's an excellent question but unfortunately a complicated one. Knowledge is your first line of defense: Knowing what looks right, or more important what looks wrong. Knowing the dimensions and weights of the bullion is important and being able to verify with a digital scale. Some dealers will let you transact at their location--and they may have a Sigma. You can also buy and sell via eBay where there are some guarantees. But there is no fool proof method of anonymous person to person sales. So if you aren't comfortable with these options, person to person might not be right for you.
I don't know why people keep talking about Costco don't get don't buy you'll go back sell it someplace else what's the big deal just sell it somewhere else they keep doing video or Costco don't get refund😂 and all that bye from them and if you want to sell them sell them to another coin on shop what's the big deal I buy from Costco I'm a stacker and if I need to sell I go to my local coin shop here in New York what's the big deal people keep talking about Costco don't buy from you again forget about that sell it somewhere else gold is gold .😂😂🎉😂😂
Or just buy gold stock easy to buy and sell immediately.
Gold stocks don't perform especially well in my experience. There are many other sectors that outperform if you are looking for trades on paper. That's not really what physical gold is for.
Tip- don’t sell your precious metal right now - 6/2024