Where to sell fine Gold?

[El_fuego]

Having trouble finding a serious dealer “COMPRO ORO”, who buys fine Gold at serious prices. but only lots of places that are looking to buy desperate grandma gold. Anyone know a place? Or does only USA have serious gold buyers in the new world? Wtf. Or if you’re interested in 1 ounce bar with certificate, let me know

 

[ArgentinaVet]

Having trouble finding a serious dealer “COMPRO ORO”, who buys fine Gold at serious prices. but only lots of places that are looking to buy desperate grandma gold. Anyone know a place? Or does only USA have serious gold buyers in the new world? Wtf. Or if you’re interested in 1 ounce bar with certificate, let me know

There are multiple places on Avenida Alvear between Callao and Montevideo (two block stretch ) that buy and sell any quantity of gold bars and coins. However, as I have previously states on this forum, Argentina is the place to BUY gold bars/coins and NOT the place to SELL gold. You will get no more than 10-15% below spot price if you are a good negotiator and possibly worse.

 

[Lavish Otter]

There are multiple places on Avenida Alvear between Callao and Montevideo (two block stretch ) that buy and sell any quantity of gold bars and coins. However, as I have previously states on this forum, Argentina is the place to BUY gold bars/coins and NOT the place to SELL gold. You will get no more than 10-15% below spot price if you are a good negotiator and possibly worse.

Do you have a sense as to why this is? You would think gold as a store of value -- and therefore close to zero bid-ask spread -- would be ideal in Argentina. And, even more, people are used to stashing physical cash (US100s) at home.

 

[LuckyLuke]

Cultural, I would venture to guess. In all the financial articles, conversations, television interviews etc. that I have seen so far, I don't think I've heard even once precious metals mentioned as an investment vehicle or store of value. Ambito.com, for example, doesn't even track it (or any other commodities for that matter).

 

[Konner_Long]

I would assume property and the Bank of Colchón are the biggest stores of wealth in Argentina right? Brining my Kruger Rands here would be a bit of a waste?

 

[Ries]

I would assume property and the Bank of Colchón are the biggest stores of wealth in Argentina right? Brining my Kruger Rands here would be a bit of a waste?

Actually big head benjamins. Argentines keep liquid wealth in paper $100 dollar US bills.
Estimates vary, but there is no question that Argentines possess at least $200 billion, and possibly as much as $400 billion in US paper money.
Culturally and historically this is much more entrenched than gold is here. Plus its more liquid, weighs less, and comes in more attractive increments. You can always find someone who will take a hundred today, as opposed to a gold bar. El Jevi will not accept gold.

 

[LuckyLuke]

You know who the biggest consumer of gold is in the world? China...

Perhaps in barrio chino are some serious buyers.

 

[ArgentinaVet]

Do you have a sense as to why this is? You would think gold as a store of value -- and therefore close to zero bid-ask spread -- would be ideal in Argentina. And, even more, people are used to stashing physical cash (US100s) at home.

Lack of liquidity in the market (which is the cause of any wide buy/sell spread) and an imbalance between quantity of buyers and sellers in the market. There are far more sellers of gold in Argentina than buyers so the buyers have the advantage in terms of pricing dynamics.

 

[Mondongo]

Having trouble finding a serious dealer “COMPRO ORO”, who buys fine Gold at serious prices. but only lots of places that are looking to buy desperate grandma gold. Anyone know a place? Or does only USA have serious gold buyers in the new world? Wtf. Or if you’re interested in 1 ounce bar with certificate, let me know

Who minted your bar?