My MIL needs to liquidate quite a bit of gold and silver and I would like to do it all in one transaction rather than selling a little here a little there.
Much of the silver is "junk" coins.
Also have 2 boxes of West Point mint 2010 silver bullion rounds with 25 tubes of 20 coins in each box.
Gold is in coins as well with 3 Suisse 1oz bars.
Who could handle a sale this large?

Call around to a few places in her area to see what they buy for without alluding to the quantity. Be ready to do some quick math then ask how long it would take them to compete the transaction.

Most places in San Diego do not keep the kind of cash on hand which you're describing and most sellers prefer a cashiers check vs a business check as such, the buyer may need a day or two to get the cashiers check.

I'm in a large metro area, but we have several "coin shops" that could handle that with no problem at all. They'll cut a check on the spot.

You're well within the reporting requirements that would trigger a 1099 B.

My dad would be happy to give you a price for the entire lot. My email is in my profile if you would like to talk to him. He could also give you a baseline of what the collection is worth and why before you shop it locally. He is experienced at doing large transactions with out of state buyers and sellers.

quote:

Originally posted by TXJIM:
My dad would be happy to give you a price for the entire lot. My email is in my profile if you would like to talk to him. He could also give you a baseline of what the collection is worth and why before you shop it locally. He is experienced at doing large transactions with out of state buyers and sellers.

OP - ROAD TRIP!!

quote:

Originally posted by LS1 GTO:

quote:

Originally posted by TXJIM:
My dad would be happy to give you a price for the entire lot. My email is in my profile if you would like to talk to him. He could also give you a baseline of what the collection is worth and why before you shop it locally. He is experienced at doing large transactions with out of state buyers and sellers.

OP - ROAD TRIP!!

Yeah, he just texted me back and said the quantity of silver vs the price of silver might make shipping problematic

Just a heads up to look into, my dad says that he believes the state of Ohio charges an 8% tax on bullion transactions. He suggest you look into a large national dealer or driving to a neighboring state to sell. 8% would be a big figure on your collection.

Jewelers Row, Philadelphia, has several metals dealers which will pay spot less discount. In cash, naturally.

quote:

Originally posted by TXJIM:
Just a heads up to look into, my dad says that he believes the state of Ohio charges an 8% tax on bullion transactions. He suggest you look into a large national dealer or driving to a neighboring state to sell. 8% would be a big figure on your collection.

Her Accountant told us that he is pretty sure Ohio Gov Kasich did away with that tax. I think it was a sales tax the seller charged when you bought. I will check into that more though. I am only a few miles from Michigan anyway.

I was going to say 47th street in NYC (the diamond district.) But this wouldn't be exactly convenient.

quote:

Originally posted by Woodman:
Jewelers Row, Philadelphia, has several metals dealers which will pay spot less discount. In cash, naturally.

quote:

Originally posted by rexles:
My MIL needs to liquidate quite a bit of gold and silver and I would like to do it all in one transaction rather than selling a little here a little there.
Much of the silver is "junk" coins.
Also have 2 boxes of West Point mint 2010 silver bullion rounds with 25 tubes of 20 coins in each box.
Gold is in coins as well with 3 Suisse 1oz bars.
Who could handle a sale this large?

https://www.apmex.com/ can handle transactions of $10K+ with a reasonable discount and https://www.providentmetals.com/ can as well. Liquidity is also available in SIGforum classifieds, but you would need to post there.

I'll just add that I have bought several thousand dollars worth of silver from TXJIM's father.

Our very own David Truong of Mimis Jewelry isdavid@mimisjewelryinc.com

https://sigforum.com/eve/forums...830074024#5830074024

No need to handle every aspects of our lives through the internet. Shipping stuff here, mailing it there, phone calls, e-mail, etc.

Looks like you're just outside of Toledo. Here you go:

quote:

Toledo Coin Exchange is the area's largest buyer and seller of Bullion (Gold, Silver, & Platinum) coins, bars and bags

http://www.toledocoin.com/index.html

quote:

Originally posted by TXJIM:
Just a heads up to look into, my dad says that he believes the state of Ohio charges an 8% tax on bullion transactions. He suggest you look into a large national dealer or driving to a neighboring state to sell. 8% would be a big figure on your collection.

About the only nice thing going for California, if you buy bullion (gold and silver to include Eagles, Maple Leafs, Pesos, Kangaroos, etc)) in quantities at or exceeding $1,500, the purchase is tax free.

When selling, of any quantity, back to a dealer there is no tax.