Buy Back Price

[Donsell]

I'm just starting to stack and recently purchased some 2016 Maple Leaves. It seemed like a good choice because older coins seemed to have a larger premium on Provident Metals. But looking at the older coins, Provident's buy back price is actually less than the 2016 coins.

For example, the price for 2016 coins at 4:00pm Sunday, June 4 is $18.34 with a buy back of $17.71. The oldest they have available are 2010 coins for $23.41 per coin, but the buy-back is $17.66 - less than 2016 coin.

Why is that? Does that mean it's a bad idea to resell coins to Provident Metals?

 

[House]

In general it's a 'bad' idea to sell back to a dealer. You're more likely to get a better price for the older coins from a private trade or even eBay.

Have you looked at all the other big dealers and compared their buyback prices?

 

[Donsell]

In general it's a 'bad' idea to sell back to a dealer. You're more likely to get a better price for the older coins from a private trade or even eBay.

Have you looked at all the other big dealers and compared their buyback prices?

Provident seems to be very competitive for both sales price and buy-back. I was just curious why older coins would have a lower buy-back from them.

I'm not looking to sell, just learning.

 

[Aureus]

In general it's a 'bad' idea to sell back to a dealer. You're more likely to get a better price for the older coins from a private trade or even eBay.

Have you looked at all the other big dealers and compared their buyback prices?

Provident seems to be very competitive for both sales price and buy-back. I was just curious why older coins would have a lower buy-back from them.

I'm not looking to sell, just learning.

Basically comes down to risk.

They can sell old coins they have in stock for a premium because they are more than likely good condition examples, and/or they are betting a small market of people are looking for that year and are willing to pay a premium for it. They can set the price and play the waiting game until they get what they want.

That isn't to say they want more 2010 coins to add to the pile however. There are risks with buying back 6 year old coins from an untrusted source, almost exclusively their condition. As a result, they'll give you less for them.

coins can get really milky in 6 years...

 

[Donsell]

In general it's a 'bad' idea to sell back to a dealer. You're more likely to get a better price for the older coins from a private trade or even eBay.

Have you looked at all the other big dealers and compared their buyback prices?

Provident seems to be very competitive for both sales price and buy-back. I was just curious why older coins would have a lower buy-back from them.

I'm not looking to sell, just learning.

Basically comes down to risk.

They can sell old coins they have in stock for a premium because they are more than likely good condition examples, and/or they are betting a small market of people are looking for that year and are willing to pay a premium for it. They can set the price and play the waiting game until they get what they want.

That isn't to say they want more 2010 coins to add to the pile however. There are risks with buying back 6 year old coins from an untrusted source, almost exclusively their condition. As a result, they'll give you less for them.

coins can get really milky in 6 years...

This makes a lot of sense, thank you.

 

[Golden]

People are stupid enough to pay more for the current year bullion coins with unlimited mintage. The buyback price reflects that.

Sometimes I sell some of my coins (wiener philharmonics, maple leafs..) and people are always asking if they are current year. I don't know why, it's not like they have expire date.