hi it's James Anderson with Jane
bouillon calm yesterday
well actually the day before yesterday
my sister she called me from New York
she just got some real estates in New
York City and had an unexpected bill
come to her so she needed help selling
her gold that she has here in Los
Angeles so I actually you know she
needed to check quickly so I had to go
and sell it to a local coin shop here in
LA which got me to thinking I may as
well make a video for it to teach you
know you folks out there how to best go
about doing this depending on the city
that you're in will depend on how many
coin shops you have locally Los Angeles
is a pretty large city so there's
handfuls of coin shops in the Greater
Los Angeles area if you live in a
smaller city you may have one coin shop
you may have two or three depends but
you may have none at all so really will
depend we actually created a URL for
this if you look up JM bullion calm
/local you will find a bunch of
different coin shops that we did
research on and have posted information
on so it's a nice handy way for you to
get some additional information on local
coin shops so anyways the the whole
point of this was to give you a few
tools to use and a few ideas also you
can use just simple Google search just
Google search your city plus the term
may be local coin shop and and then
stuff will come up one thing to be wary
of though is to know that most of the
places that you will find retail wise
are going to be we buy gold shops and
stuff like that you're not going to get
that great a price at places like that
they're not going to respect the premium
that perhaps your coins deserve so just
understand that when you when you go to
any of these places to sell your gold or
silver know what you can get for your
products online from other online
dealers who are buying back her products
understand what you can get if you if
you ship it to them and wait the week or
so to get your check or your bank wire
transfer versus what you can get locally
and kind of weigh that depending on you
know how quickly you need the money or
um you know if you can wait the extra
time for the additional payment that
maybe an online company might give you
over your local dealer so back to the
point about my sister her selling of
gold
she bought a bunch of gold back in 2008
when the financial crisis hit and you
know she got it at a good price so
selling a little portion of her gold
wasn't a big deal we we went here in
West Los Angeles
to a coin shop sold ten gold coins
I think spot was around eleven seventy
or so and we got a price of $15 over
spot for each Gold Eagle selling ten
Gold Eagle coins gold and silver are
extremely liquid people don't really
understand that who don't own it how
fast you can get paid with it
whether it's cash or with cheque in this
instance we chose cheque because she
lives in New York City she needed the
cheque to be put in her bank here in Los
Angeles so she could withdraw the money
and then pay on it very quickly
I believe we end up getting a check for
eleven thousand and nine hundred or
eight hundred some odd dollars so we put
it in the bank but then again some of
you won't want to have any paper trail
at all when you're selling your bullion
or your coins or what have you so you
can always like to get paid in cash you
may get a lower bid if you elect to get
paid in cash because the dealer will use
that as leverage to give you a lower bid
but you know be it as it may you could
get paid in cash below ten thousand
dollars without any forms being filled
out we've actually created a form at JM
bullion calm an infographic that's about
this topic and I'm going to put the URL
below so you can learn more about the
IRS reporting and you know privacy and
such so that's it for this video be sure
to subscribe to our YouTube channel and
stay tuned we're going to make more bye
you