local places to sell gold bullion

User Forum Topic
Submitted by flu on August 7, 2019 - 5:29am

Has anyone sold gold bullion locally? If so do you have a recommendation of where to go? I heard La Jolla Coin Shop was decent and someone once recommended me a place in Clairemont Mesa, but I forget the name.

Submitted by gzz on August 7, 2019 - 10:08am.

I’ve done so by mail on the reddit PM sale group. Avoids middlemen, and price is generally spot minus 1%. ebay you can get about the same and ebay waives seller fees all the time.

What type of gold are you selling? The easiest to sell privately is probably small US and French coins.

There are Chinese fakes of those 1oz private mint bars like Pamp.

$1500 is also a lot to deal with at once for most people so I avoid the 1oz coins.

In my view the best are US $5 and $10 gold coins which are basically a quarter and half ounce and the 20 franc French coins that are .1867oz.

There is also a coin store on Garnet in PB. They seem nice. Just call and see what they will pay.

Submitted by flu on August 7, 2019 - 10:36am.

It's bullion in 1 ounces.
I don't want to use the usual online places like Apmex, Kitco, MCM, etc because I want to handle transactions in person.

Submitted by OwnerOfCalifornia on August 7, 2019 - 12:08pm.

I have bought and sold at Blue Vault. They're in mission valley. Easy & seamless transactions.

Submitted by gzz on August 7, 2019 - 1:42pm.

Blue Vault seems legit.

Curious about what they pay compared to spot.

Something to remember is physical transactions in gold are pretty much always about 1 or 1.5% below spot, and in silver are 5% over for 1oz coins/rounds and 2-3% over for larger bars. Other PMs have even higher premiums to spot, rarely will physical platinum sell without a 3-5% premium unless it is a huge transaction.

Another thing is California has sales tax on precious metal transactions of $1500 or less. Above that, no sales tax.

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