GunsAmerica vs. GunBroker - also - selling gold coins?

[AJMD429]

Going to put a couple firearms up for sale and wanted to know what about GunsAmerica vs. GunBroker from a SELLER'S standpoint.

Also, I've bought a couple 1 oz. gold "$20" coins 15-20 years ago, and where do you sell something like that and get the best deal? Somebody told me you have to pay capital gains tax on it, too...???

[86er]

I suggest "Gunsinternational". The owner, David Powell has been involved in shooting sports for 40 yrs. He gives back to communities, supports the 2nd amendment financially as well as with advertising and propaganda, and he personally screens every new account on the site. If you sign up, he will call you personally and ask questions to verify you are a legitimate person that will buy and/or sell by the rules. They may miss a few that are good pranksters, but generally the site is more trustworthy as far as dealing with buyers and sellers and direct intervention should there be a problem. I can give you Dave Powells direct phone number if you have trouble on the site or are still in doubt. 5 million hits a day last week! I am not versed enough to answer the "gold" portion of your question.

[JB]

Gunbroker. With Guns America you're listing for a fixed price, but Gunbroker can save you if you happen to start something a little too cheap. With the auction format you never know how high something could end up going. I'd just avoid those stupid reserve auctions where "starts for just $1.00" but you have a reserve set at or above current market price. Just start it at the minimum you'd be willing to accept.

I can't tell you where to sell your gold, but anytime you sell something used for personal use for a gain it's "supposed" to be taxed. I believe Gain from collectibles like gold or guns are taxed at a higher rate than normal long-term capital gains.

[jdad]

Gunsamerica and Gunsinternational are classified listings. Mainly high priced/over priced firearms from big name dealers, on Gunsinternational, that have been listed there for years.

Gunbroker and Gunauction are auction sites. You will sell faster this route.

[bdhold]

right now stocks are on a climb that would average 20% annual gain.
If this continues, the bottom is going to drop out of the gold market.
I think people are trying to sell anywhere they can.

[madman4570]

Have had very good luck with GunBroker--------------now with------------
The coins-----???????????
Things aren't that bad yet for ya Doc to sell those babies however (Obamacare is coming though)

Best bury the coins good(and wait)and if you want total peace of mind that they are safe, just in case something bad ever happened to you (only tell me where you buried them) ---------------------I can keep a secret!

[Old Time Hunter]

Have had better luck on GunBroker and AuctionArms than GunsAmerica, never tried GunsInternational so can not comment on them.

Both auction sites returned better than expected results even with the costs figured in. If you are not too greedy, expect to sell somewhere half way between wholesale and high retail. If Cabel's Gun Library offers you $500 and retail book is $1000, $750 on an auction site is just about correct.

[flatnose]

You can sell your gold at a coin and precious metal dealer, or numismatic coin dealer. American eagles should net you $1650 right now. No tax is due, as Eagles are still legal tender currency.

[Tycer]

You can sell your gold at a coin and precious metal dealer, or numismatic coin dealer. American eagles should net you $1650 right now.

Don't he wish. A local dealer will give about $60 under spot these days so that would be more like $1550 right now. He might could buy one for $1650. IMO, if he could get spot for an eagle locally he would do well.

Offer the Eagles up here in the classifieds for spot if you are determined to sell. http://www.gainesvillecoins.com is a good buyer (and seller).

FWIW, unless you are about to go without food or shelter and need the $, I think in a year you'll look back in disgust at what a poor decision selling in April 2013 was. PM me your regular email addy and I'll send you a couple of articles not available without subscription that might at least make you wait until October to sell.

Capital gains is voluntary right now. Too bad you paid $1900 for them 20 years ago. Bad bad.

[flatnose]

Our local dealer is paying $1657 for eagles right now and selling at +$20. Liberty coins del mar.

[Tycer]

Our local dealer is paying $1657 for eagles right now and selling at +$20. Liberty coins del mar.

Wow. That's great. Not here. Not across the border in SC either. I did not realize there was that much disparity in prices paid. Where's here?

[GonnePhishin]

Doc,
PM sent

[flatnose]

Del Mar california.

[92&94]

I've had good luck selling on Gunbroker, never tried the others. If you do your homework looking at completed auctions, you should have a fair idea what an actual selling price will be. I sort the completed auctions by number of bids to weed out all the guys who start at top dollar and auto-relist, cluttering the place up with auctions no one even follows.

Depending on what you are selling, your best bet may be a penny start and no reserve. With high demand stuff, that will usually take you above what you would otherwise get with a "buy it now" sale. Auction psychology is a funny subject... but it only works with the popular stuff.

As to gold, I have no idea where you'll get the best price. I don't see any mention of paying $1900 for it either. I remember gold running around $300-$400/oz back then, and we have seen considerable inflation, but certainly not 500%. Whatever, there's a lot of guys out there selling golden snake oil, keep your skepticism up, it's important to have it when it comes to your investing dollar.

As far as I know, gold coins are taxed as collectables (not good news I'm afraid). But you probably should ask a tax pro rather than a bunch of conservative gun nuts - you'll get a real answer even if it isn't one you want to hear. I remember a friend selling a maple leaf a couple years ago when the price first got into the insane territory. AFIAK, there was no paperwork on the sale, no 1099, no nothing. Cash on the counter in exchange for the coin.

[Sixgun]

Doc,
Don't know about selling the guns but I am paying $1,000 per ounce of gold. ------------Sixgun

[765x53]

I have purchased muzzle loaders on both "Auction Arms" and "Gun Broker" with good experiences.
For what little selling I have done, I have used "Gun Broker" because it has larger listings.