O e dealer was advising a coin collector to buy as much as South African gold sov and get it slabbed. The collectir asked why...the reply was "the market is hot as, as there's South African everywhere". I choked on my coffee...and walk away. Def worth $10 hearing that advice
I was there and I found that a lot of dealers were trying to rip me off when it came to bullion coins. I showed some of my silver sets and the 1st guy said he would offer me spot and then quoted me over $100 below spot when he added the collection up and was consistently understating the number of ounces I had. Another guy told me a gold coin I was interested in purchasing was marked as billion value (for a 1/4oz gold coin would be ~$337) then tried to charge me over $100 above spot ($454) and then claimed it was because of a 5% premium. I was very disappointed with their behaviour. I don't understand how they could try to fleece people there when the people who show up would very likely know about what they are buying.
If you want to sell your silver collection at spot just take it to Peter Davis Or list on here Many coin dealers are just used to dealing with the general public who have no idea what things are worth and are easy to rip off
I didn't want to sell them at spot, he said he would accept them for spot then under counted the total ounces there were and under quoted what they would be worth at spot by over $100. I just wanted a valuation.
Thought the show was good, picked up some nice numi sovs and the new RAM Pavo domed coin... and also because a I won a $50 door prize :lol: Many thanks to the organisers. One of the dealers mentioned NZ mint and possibly Royal Mint may be at the International show also.
