Selling gold coins on craigslist

[brandon]

Anyone ever do it? How did it go for you? I have a few ounces I want to liquidate and am leaning towards CL but I'm worried about being ripped off/robbed. What's the best plan to ensure general safety when making a large cash transaction with a stranger?

 

[jbauer]

Anyone ever do it? How did it go for you? I have a few ounces I want to liquidate and am leaning towards CL but I'm worried about being ripped off/robbed. What's the best plan to ensure general safety when making a large cash transaction with a stranger?

Public location, maybe keep the coins in a bank deposit box for the transaction if you have one? Either that or you could come over to my house. I happen to have cash and a gun and could rob you of your hard earned gold.

 

[specsaregood]

Anyone ever do it? How did it go for you? I have a few ounces I want to liquidate and am leaning towards CL but I'm worried about being ripped off/robbed. What's the best plan to ensure general safety when making a large cash transaction with a stranger?

Do the transaction at your bank. Most of them have lobbies and seating even.

 

[wgadget]

Or you could meet at a jewelry store where they can check the bullion/coins for weight and content.

Andtake a friend.

 

[ILUVRP]

put them on ebay , you will get what they are worth .

 

[Free in CT]

Good recommendations in the replies for dealing with selling on CL. Ebay is another option.
There are a lot of folks trading cash for precious metals there. If you don't mind transacting
your business through Paypal, you could easily dispose of your gold there.

 

[brandon]

Thanks for the suggestions. Doing the transaction in the bank seems pretty solid as long as the bank employees are cool with it.


I've considered ebay but I'm worried the ebay fee and paypal fee will take a huge chunk of my profit. What are their rates nowadays?

 

[TheBlackPeterSchiff]

Bring a few homies with guns.

 

[brandon]

Bring a few homies with guns.

LOL. Seriously it does remind me of a decade ago when I was buying/selling weed in volume. I got took for 3k one time by a stupid decision to trust a guy I just met through a friend of a friend, and I guess I still have some paranoia lingering from that. If only I cashed in all my weed money for gold back then when it was 275 an ounce...I'd be a made man.

 

[Oddball]

put them on ebay , you will get what they are worth .

No fucking way.

Evilbay is...well...evil.

 

[oyarde]

I can give you the phone number for my guy if you like , he is honest.

 

[ILUVRP]

No fucking way.

Evilbay is...well...evil.

between paypal and ebay the total take is about 5% . dealers have to make money on both sides so they will give you at least 8% less than spot price.

i have never seen a gold coin sell for less than spot gold price on ebay.

collectable coins are a different story as dealers love to grade down when buying and grade up the coins when they sell. on ebay you never know what a collectable coin will bring.

 

[TomtheTinker]

Meet at McDonalds for a coffee...thats what I do

 

[TomtheTinker]

LOL. Seriously it does remind me of a decade ago when I was buying/selling weed in volume. I got took for 3k one time by a stupid decision to trust a guy I just met through a friend of a friend, and I guess I still have some paranoia lingering from that. If only I cashed in all my weed money for gold back then when it was 275 an ounce...I'd be a made man.

you aint the only 1....I got got when silver was 12 and I was gonna make the move from early 20s to mid 20s green to silver....if u know what I mean

 

[angelatc]

between paypal and ebay the total take is about 5% . dealers have to make money on both sides so they will give you at least 8% less than spot price.

i have never seen a gold coin sell for less than spot gold price on ebay.

collectable coins are a different story as dealers love to grade down when buying and grade up the coins when they sell. on ebay you never know what a collectable coin will bring.

ebay is more like 10%. http://www.newlifeauctions.com/calc.html - here's a calculator. ETA - 11.92% for a 1700.00 transaction.

 

[specsaregood]

Meet at McDonalds for a coffee...thats what I do

The problem with that is you still run the risk of being jumped in the parking lot or being followed home. Or if the person is daring/dangerous enough, outright robbed.
Doing it at the bank reduces those possibilities by a lot, especially if you deposit the money directly into your account or act like you are going to.

 

[presence]

I've probably made a dozen or so transactions on craigslist over $1000 cash. None for gold, mostly equipment. Never had any problems. There are definitely scammers out there, but they stink like rotten fish. Keep your guard up when you deal w/ people on the phone and you'll be fine. Bring a testosterone laden male friend; buy him lunch with plenty of meat. Never mail anything for a moneygram. I wouldn't bother with a gun unless you're selling over 7-8 ounces. Frankly I wouldn't sell that many on craigslist anyway. If you're packin' pack loaded. I also don't like the ebay route because you're stuck putting gold in an envelope unless you specify local pickup... in which case you're still dealing in person. Public places are good. CCTV cameras are good. Back woods, back alley... bad. If you take payment in 100's try to be somewhere that you can put one of those test markers to 'em.

 

[The Goat]

Do it at your bank, if you have a good one they will check the money under a light for you. I turned in counterfeit money at my credit union before and they gave it back to me to get rid of, thats against the law but I was happy about it. lol, I had $40 counterfeit confiscated at my old branch bank.

 

[presence]

Do it at your bank, if you have a good one they will check the money under a light for you. I turned in counterfeit money at my credit union before and they gave it back to me to get rid of, thats against the law but I was happy about it. lol, I had $40 counterfeit confiscated at my old branch bank.

Nice. I personally haven't set foot in a bank in over 3 years. F banks.

 

[angelatc]

I've probably made a dozen or so transactions on craigslist over $1000 cash. None for gold, mostly equipment. Never had any problems. There are definitely scammers out there, but they stink like rotten fish. Keep your guard up when you deal w/ people on the phone and you'll be fine. Bring a testosterone laden male friend; buy him lunch with plenty of meat. Never mail anything for a moneygram. I wouldn't bother with a gun unless you're selling over 7-8 ounces. Frankly I wouldn't sell that many on craigslist anyway. If you're packin' pack loaded. I also don't like the ebay route because you're stuck putting gold in an envelope unless you specify local pickup... in which case you're still dealing in person. Public places are good. CCTV cameras are good. Back woods, back alley... bad. If you take payment in 100's try to be somewhere that you can put one of those test markers to 'em.

I guess it depends on where you love. Detroit Craigslist is much different than Ann Arbor's for example. I do like the idea of the bank - thanks for sharing that.