Selling gold and silver coins for apartment

[Shane]

If the person who bought coins over spot from Shane, above spot even, is so eager to buy, surely Shane wouldn't mind sharing where one could find this buyer, as he must desperately need more inventory if he is paying above spot and certainly wouldn't mind the extra business.

Locals convert their savings into USD, but many are starting to learn that there is USD inflation as well. Bitcoin is catching on in Argentina.

They are at the coin fair on Sunday at parque Rivadavia

 

[ArgentinaVet]

However, every time I try and sell a gold eagle all I get is lowball offers, or, naw not interested. What am I doing wrong? Is there a place in Argentina where one can safely sell gold coins for over spot?

If you see my post at the beginning of this thread you will see that Argentina is among the WORST place to SELL Gold coins and probably the BEST place to BUY gold coins/bars. In the years when gold was blatantly undervalued I personally negotiated and purchased many, many Krugerrands, Eagles (pre and post 1933), Maple Leafs, Mexican Centenarios (market is flooded with these are they are the cheapest), and British Sovereigns, Half kilo Credit Suisse bars, etc. In the back rooms of Avenida Alvear and the Libertad gold district there is essentially an unlimited supply of these that can be purchased at or below spot, depending upon your negotiating skills, purchase quantity, etc.

 

[mulderfox]

This may not be the best place to ask as it may be viewed as a different topic, but I feel it's related so here goes. I look at precious metals like it appears Shane does, it's insurance. I feel that the value of precious metals have remained stable over millennia, it's just the fiat currency that varies, making the metal appear to fluctuate. A once of gold still buys roughly the same amount of stuff as it did 50, 100, or 1000 years ago. So I thought that with the crazy inflation here, that the locals who make their living in pesos, would want to convert their pesos into something else, something stable as quickly as possible. As evidenced in the housing boom here in the Calamuchita valley. However, every time I try and sell a gold eagle all I get is lowball offers, or, naw not interested. What am I doing wrong? Is there a place in Argentina where one can safely sell gold coins for over spot?

People use dollars to do what you describe. That is why they don't bother with gold.

 

[Caribbean Cool]

People use dollars to do what you describe. That is why they don't bother with gold.

You asked, "what am I doing wrong"? It is what you DID wrong. You did not read the fine print about the resale market for coins. If you assigned a 'discount value' for the market in Argentina of 10%....there might be 5 x 10% discounts to the face value....= 50%. Maybe.