I Sold My Gold

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Okay yeah you read that right Sold my gold Don't worry though I didn't sell it all Not a Savage We're gonna work through this I'm going To tell you why I did it so stick with Me I think it'll even be helpful So we talk about buying gold all the Time we rarely talk about selling it Though Well we're gonna fix that before we do Though I need to explain a few things I'm not selling my gold because I lack Confidence in Gold I'm not selling Because I need the money I'm just Selling a little bit of gold so we all Better understand how to do it if and When we need to Knowing what it takes to sell gold That's just going to make us less Nervous to buy more of it so I'm selling Some in order to feel a little bit Better about buying more does that make Sense probably not yet but stick with me By now everyone here probably knows About my preference for eagles and Buffaloes they're my priority because They're just the easiest to sell you can Sell them directly to a private party I Know people first hand who would buy Them from me I can sell them over the Online marketplaces maybe not eBay those Like it I can sell them to my local coin Shops and at my local coin shops I can

Sell them in any volume that I need I Can sell one at a time I can sell 40 at A time it doesn't matter they'll take Them all I don't have that flexibility With coins or with bars from other mints Doesn't matter how pretty they are my Local shop simply won't give me what Most of these are worth now they'll buy Them I just won't like what they'll pay For them so I limit what I buy I try to Purchase what I know I can sell the drop Of a hat or what I think might have some Kind of additional numismatic value over Time sometime down the road something That I can sell for a profit or maybe I Just want to keep it never sell it hand It down as an heirloom and that all Works out fine it's easy for me to stick To those two categories for my gold Purchases but there are local shops out There larger markets who are better About buying the more obscure coins if You have ready access to those kinds of Shops well you have more options you Have a wider buying selection at least In terms of pain points if you ever go To sell we can all go online we can all Buy whatever we want one ounce gold Cameroon mandrel sure easy but you have To have the rare local shop that's Willing to buy it from you if and when You want to sell so that ends up Limiting what you buy in a lot of ways But there is another option the big

Online dealers out there like JM Bullying and app Max actually make this Whole process pretty easy you don't need The rare local shop you don't need an Established online presence to sell over Not eBay you just need access to A phone or an email account And what you're not seeing here is a 2022 Great Britain Royal Arms coin you Aren't seeing a series 2 lunar goat and You aren't seeing some gold back so You're not seeing them because the video That I took well I reformatted the card When I went on vacation lost that video So you're gonna have to trust me they Were beautiful coins perfect condition The goldbacks I guess they were in Perfect condition too now unless I find A way to recover that video we're not Going to see them on the channel again Because I sold them so let's get into How I did it now I could have sold these Coins here on YouTube could have sold Them for quite a bit more probably but Most people don't have that option and It just doesn't make sense for me to run Through something that only a person With a YouTube channel can actually do So I worked through it using an option That all of us have I went out to jam Bullion and appmax now I realize not Everybody has access to those two Particular dealers but here in the United States they're the big ones and

Just so everyone knows I have a Relationship with JM Bullion they Sponsor my channel but it's at a very Modest level no offense JM but the point Here is that I'm not beholden to them in Any way it's not going to influence what I say about them I don't get any kind of Commission I don't get anything like That so none of that's going to Influence my decision for this video I'm Also a VIP member at appmax you know Good for me no influence there I'm just Familiar with the company and I Appreciate the customer service Both companies make it easy with either One you go to their site you hit the Sell to us link you start the quote Process and you can get going online you Can call them you can email someone There it really doesn't matter you've Got three ways to do it I started online I got quotes from each I also called Them both I had some questions specific To what I was trying to sell I also just Wanted to get some background for this Video I got quotes from each for a 2022 Great Britain Royal Arms coin Series 2 Lunar goat 2022 Chinese myths and Legends Dragon 2021 gold buffalo and a 2021 Gold Eagle I also asked them for a Quote for 10 ounce Pam Swiss silver bar And a quote on some gold backs a JM Bullion beat app Max and price on every Item just by a little bit and some of

Those coins they didn't show up in their Tools so I had to email the details I Had to go back a couple times to get the Final quotes but on the side by side Comparison it showed that JM Bullion was Just slightly higher for everything that I had they were also the only one of the Two that was willing to buy the Goldbacks that part wasn't a big deal to Me I didn't really need to sell any Didn't intend to sell any but I had been Asking local shops if they would buy Them actually what I was trying to do Was use them to buy coins in nunwood so I thought I would check just to kind of See what the outlets were now all of This very limited sample size does not Mean that JM Bullion is going to beat App Max every time they just beat them In my case so that's who I used On the real quick process here is that You go to the site you enter the details Of what you have to sell and you hit the Submit button it's as easy as that if You're selling basic stuff you're going To get the price estimate without going Any further if you do push through Though you're going to get an email Letting you know they received your Request followed by a detailed Proposal With itemized prices from there you can Email them questions you can call them If you want if everything looks good Though you just click a link that

Confirms it and they send you a Follow-up making sure that you didn't Click that on accident and you're Off to The Races they send you the mailing Labels and that's it from there you just Pack it up and send it off now this Whole thing gave me a little bit of a Weird feeling first of all Kind of like the cash deals personally And my gut was just saying that now is Probably not a good time to sell but I Wanted to understand the process so I Called both companies I talked to Several reps and the whole thing took me Really about four weeks to finalize Everything not just an hour like I've Mentioned because I started and I Stopped three or four times before I Actually went through with it now there Were other things in play again I have more effective ways that I could Use to sell these coins personally so I Waffled on getting rid of them to begin With I had that seller's remorse before I ever actually went through with Anything but we're going to come back to That because I still have the important Part to tell you and that's how much I Got for them so I sold a 2022 one ounce Great Britain Royal Arms I sold a Quarter ounce Series 2 lunar goat and a Handful of Gold bags now spot price at The time if I was using Kitco was about 1845 1845 I got

1950 for the Royal Arms I'm rounding it A little bit I'm going to leave off the Decimal points I got 490 dollars for the Quarter ounce Series 2 lunar and I got Two dollars they're just over two Dollars for each one gold back so as a Point of reference they offered one Thousand eight hundred and eighty Dollars for the type 2 American Gold Eagle I think it was a 2021 in 1885 dollars for the Buffalo now the Shipping fee is on my dime it came out Of the total cost me 33 dollars for two Day FedEx and the payment that I got Sent directly to my bank account now if I wanted it if I would have preferred it They would have sent a manual check but There's a small fee for that too this Whole seller's remote first thing that Came from knowing that I probably wasn't Selling for a good personal reason gold Price is not at a high I don't have Anything I need that capital for and at Least one of those coins Was a little bit of a personal favorite And just visually speaking but I've been Wanting to do this video for a while Really that's just all I could come up With it I was comfortable parting with Now I'm going to turn around I'm going To buy eagles with the cash and I don't Have reporting requirements here because I actually took a very slight loss that Was part of the reason that I chose

Those coins I paid just a little bit More for them than I got me and all that Considered though the upside here is Pretty clear this process it took about An hour in total that's if you remove The longer conversations that I had with The Reps just for background for this Video and Beyond how easy this whole Process was the thing that stood out to Me is that I got seventy dollars more For the Royal Arms coin as compared to What I would have got if I sold an eagle Or a buffalo buffalo was five dollars More than the eagle my local shop they Would have actually charged me between Forty dollars and eighty dollars had I Made a trade from the Royal Arms coin to An E go had I simply just sold it to the Local shops I would have been lucky to Get spot now what I actually got for it It's about five and a half percent above Spot and that's pretty impressive Considering I really only paid six Percent over spot when I bought it I had To pay thirty dollars for shipping that Comes off of what I made but this makes Me a lot less concerned buying some of The things that I know my local shops Just don't like I still prefer Eagles and buffaloes I Like the uniformity I like the Additional local selling options that I Have especially if I want a cash deal But when I asked both JM and app max if

They had any limits on what they would Buy they said not really particularly With Eagles or buffalos I think this Part is pretty important I asked them if They would buy 40 Eagles and both of Them gave me the of course voice one of Them actually laughed a little bit so I Then asked well would you buy 100 ounces Would you buy 200 ounces and they both Said of course so I think that that's Important you have an outlet for really Any amount now I realize that we're all Going to have a little bit of hesitation Here my deal that I'm talking about is Twenty five hundred dollars not real Nerve-wracking now if that was 75 000 in Gold coins or 100 000 200 000 more it's Gonna be a little bit different when we Drop that off at the local FedEx station But everything's insured and really the Important part here is just that we have That option so that's it that's the Process a little bit of the rationale Behind it just did it for research I'm Going to be replacing that gold weight Soon really I just wanted to run through That process to show whether or not Selling might be difficult in any way I Think we proved that it's not it's Pretty easy so let us know what you Think do you feel better knowing that You could sell online if you had to let Us know and then while you're in the Comments be sure to hit that 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

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