Very strict rules around here only by Eagles I knew it I blew it and what came Next will Blow your mind Okay that's not actually true just Seems like something I should say to Keep up around here [Music] It's a good story Go into my local coin shop to grab some Gold I know they have an order of 2023 Eagles that just came in and I'm Thinking I'm gonna buy one maybe trade For a second I've mentioned trading Britannias for Eagles before I'm not Sure I ever told the whole story but I've done something similar to that Twice now so I have a stack of a hundred Dollar bills I have a one ounce kind of Random gold coin in my pocket It's a Great Britain Royal coat of arms that is Just in case I also have a bunch of gold Backs in the car I have some silver bars Too these are cash deals so once in a While I'll grab some random stuff to Trade just in case I run into something Special that's gonna save me an ATM run So the Eagles are there I count out the Cash for the eagle and then I set down The one ounce British coin and I asked If he's willing to trade it toward a Second and he's not and that is it That's that's the story be sure to hit The like button
To be fair he had just had a big order Show up so he's sitting on top tier Inventory the things he sells all day he Has Eagles he has buffaloes he has Maples on the Shelf he has some brand New 2023 tubes in the back and I'm Asking him if he wants to trade for a British coin something that it turns out He's never even seen before Now this is a local dealer I have a few And I know that all of my local dealers Will typically at least buy anything but The price is going to be impacted by the Inventory they have at the time and then The public demand at the time as well This particular shop owner he says There's a price for anything but ninety Percent of spot is a price so he could Do that he could offer me 10 under he Could sell it for spot but really he had No interest in the coin and it was Pretty clear so that's what he likes What he's most willing to buy and I got The same story he says Eagles buffaloes Maples and Crooks he sells those all day Long so that's what he likes now this is A local shop and local shops well They're just one possible outlet for Selling it could sell on Reddit I could Sell to JM Bullion or app Max I could Probably find somebody interested on Discord but this is a case that I Constantly have to remind myself of if I'm buying random things I'm looking at
Fewer reasonable selling options it's Just easier to buy a fun looking gold Coin than it is to sell it now when I Travel I have a few other local shops That I stop into and one of these will Take just about anything they almost Have an umbrella price that they'll pay For something like this and it's spot if It's a modern coin from a sovereign mint They will give spot or right around There so kangaroo Britannia one ounce Great Britain Royal coat of arms spot Now this is a huge Metro a little bit South of there I have another dealer That I know that will do more or less The same thing not a whole lot of Hesitation on some of the random stuff But they'll pay under spot sometimes It's two percent under sometimes three But all of the local shops that I know Will pay spot or a little bit above for A buffalo or eagle And it should make it pretty clear but There are a couple problems the first is That the price spread on an American Gold Eagle it isn't always going to work Out in my favor if I'm looking at the Local buy to sell spread that spread Right now today it's about nine percent So if I buy an eagle from a local shop And then I sell it back I'm immediately Out about a hundred and seventy dollars And that's probably the worst case Scenario there was a supply pinch on the
Eagles and buffaloes normally the Premium on a one ounce Eagle it's about Seven percent not ten percent like it is Today or it was last week and the week Before I know that I can also sell it For two percent over so if I got an Immediate case a buyer remorse I'd be Out of Max of say five percent more like Ninety dollars and that's typically how I would look at a Canadian maple leaf a Britannia or a Krug it's about a five Percent buy to sell spread I can buy a Britannia at four percent I can sell Them easily for one percent under Normally now in the largest metro that I Spend time the one I just mentioned I Could expect the same spread on some of The less common coins again like this Royal coat of arms if you're saying so What who cares you're in the right Mindset and you've probably done this Before you probably know what you're Getting into all of us know there are Other options to sell we could all sell Something like this on eBay not lose a Dime maybe even come out ahead and That's assuming there's no movement on Spot price but you always want to know The path of least resistance your Lightning approach for me that's driving To a local shop in my area getting some Cash for the coins I'll be in and out Inside of an hour and I have three Options and I know without any doubt
That Eagles buffaloes Maples and krugs Will do better than anything else I know I can sell them at any time the dealers Are happy to have them and I'll never Have to take a lowball offer so plot Twist this showed up today this is not An eagle not a buffalo it's one of 188 High Relief coins that are available in The world it's a 2023 Australia one Ounce gold Luna rabbit High Relief proof And I do not have a local shop that Would care one bit about its Rarity or Its appeal to certain audiences I could Take it to the largest shop that I Mentioned maybe do well there but I Would have to transport it there locally I would probably be looking somewhere South of spot price now the point here Is that even though I know my local Shops could care less about some of the Fun stuff I'm still buying it now and Then so I'm not up on a soapbox telling You you shouldn't be buying it but this Will never be a lightning sale to me and You should at least understand what You're getting into I'm limiting my Options if I ever need to sell but I Knew that going in in one of the recent Videos that I did I mentioned that American Gold Eagles are currently at The top of my list and actually got a Surprising number of questions why There's the answer that I more or less Just gave my local shops they like
Eagles they like them as much or more Than anything else and it depends a Little bit on the shop there's only one Though that wouldn't say that the eagle Is at the absolute top of the list I can Hypothetically sell just about any Amount of eagles locally in under an Hour you know but then there's a second Reason and it's just a simple thing a Little bit of OCD I have a tube that Needs filled I'd like to square it away So none of my preferences for eagles and Buffaloes should move you none of the Strongly held opinions of my local shops Should either unless you are not willing To ask your own local shops what they Prefer or you aren't willing to do the Legwork maybe take on the risk of Selling on eBay if that's the case you Should at least think about it because I Hear it from everyone I talk to so just Keep that in mind unless you truly don't Care because you simply will never sell This is just more of a nudge nudge I got Kind of like a lane departure warning Where the seat buzzes and then the car Bounces me back to center lane So even though I think britannias and Kangaroos they seem like they would be The best options for premium at least in Terms of the buy to sell spread until They're also just as easy to move Locally just as easy as say an eagle a Buffalo a maple leaf or a Krug I will
Stick to my primary for at least 90 Percent of my purchases and then I'll Probably go extra crazy on everything Else So that's what I'm up to let us know What you're seeing I saw a comment Recently from someone saying that 20 Francs roosters were actually liquid Where they were probably a comment from Europe maybe not though always curious So let us know what you see what you're Buying and whether or not you've tried Selling or trading any of your one-off Random buys once the spell wore off While you're in the comments be sure to Hit the like button if you found any of This interesting be sure you're Subscribed with notifications turned on If you'd like to see more on the topic And if you're still here Thanks again for watching I always Appreciate your time Take care [Music]
