Father passed last week. I'm the executor. One of the assets is some gold and silver coins. Need to liquidate them to distribute to the heirs.

Never messed with actual precious metals before. Have done a little research.

Any advice? Haven't even had a chance to look at them and determine the type yet, and I understand that matters. Just moved them from his house safe when securing his house.

Nothing to add except that since the owner is deceased the heirs get a step up in cost basis. Assuming you sell them for spot minus a few percent they will get to take a capital loss on the distribution.

I'm interested if you want to sell. You can email me at my username at gmail. I'll give you a better deal than a dealer will.

Also I am sorry for you loss! I can also talk to you about value on the coins. You may want to keep some of the better pieces to remember him by. I can talk you through it. I'm happy to help whether you sell or not!

Thanks! I appreciate it. Will reach out at some point soon when I get to that.

My condolences on your loss. I am in the same situation, as my father passed away 2 months ago. Major difference is that I am carrying on the coin / silver collecting.

Sorry man. I'd keep the coins, but if it's substantial and you don't want them there are plenty of buyers on here that won't rip you off as bad as a dealer

I look at selling prices from APMEX, and price i ta little lower on here.

just as a gauge you can see what APMEX.com, gold dealer.com, etc. are offering for each kind of coin

You've got a couple options above, but there is a poster in CS that helped me with the same issue a couple years ago. Maddiedou I believe is his username. He's very knowledgeable about older coins and buys a fair amount.

Looks like the gold are American Eagles (20). The silvers say Queen of Peace (160).

I have no sentimental attachment, nor did he that I know about. So just need to get the most I can to distribute to the beneficiaries.

This whole precious metal thing seems a little sketchy. On a private sale, how do you safely coordinate those amounts of money transfers? What is a reasonable premium or amount off of spot? Saw lots of online buyers/sellers and that seems even more risky. How do you possibly ship something like that with the possibility of loss?

Absolute said:

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Looks like the gold are American Eagles (20). The silvers say Queen of Peace (160).

I have no sentimental attachment, nor did he that I know about. So just need to get the most I can to distribute to the beneficiaries.

This whole precious metal thing seems a little sketchy. On a private sale, how do you safely coordinate those amounts of money transfers? What is a reasonable premium or amount off of spot? Saw lots of online buyers/sellers and that seems even more risky. How do you possibly ship something like that with the possibility of loss?

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Oh man, this reads like your next post is gonna see if you can sell any for bitcoin xD

Just take them to a reputable dealer and sell them. Call in advance to know their offer. Selling to any one you meet off the internet is setting yourself up to get robbed.

No on transferring to bitcoin.... Have some of that to liquidate as well. Guess he decided to be into coins late in life. I understand that better, though I doubt he really did.

Side note, something needs to be done about scammers, even semi legit ones who are preying on the elderly. Found thousands in annual charges for various "investment advice" publications he had subscribed to. I knew that was a thing for him, but had no idea the ridiculous amounts he was paying for advice that mittored his preconceived opinions.

I would possibly be open to selling the coins to an aggie that was properly vetted, once I understand how the transaction will go down.

If I do a local shop buyer, how do I know what a fair premium would be?

"something needs to be done about scammers"

What do you propose be done?

Where are you located? Houston? Dallas?

I don't know. Track them down and turn them over to the a outdoor board? Stake them out over a fire ant hill. You know, something light for first offenders.

I'm in Dallas.

Sure, I could divide up the metal, I suppose.

The heirs are me and 3 grandkids. Given their ages and points in life, I doubt they would want the metal or The hassle of converting it.

You might ask them at least.

But a coin dealer in my limited experience should offer a standard small discount from spot. Just call 3 and check their offers and pick tht best. You'll be done with this task in an hour or two.

That said, Ag Tags on this board are probably pretty safe outlets to sell privately to.

exp said:

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Is it mandatory you liquidate hard money in favor of melting fiat? Just give the kids the metal and call it good. I'm not familiar with will stuff though.

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I know someone who executed a will and kept the PMs completely out of the documented transactions. Just showed the heirs what there was, made stacks as appropriate and handed them over, as if they were divvying up furniture or old pictures. That's the whole point of holding physical PM. If any of the heirs wants to sell any i could be interested. Shipping insured is pretty safe. Via usps turns any shenanigans into mail fraud. Sorry for your loss!

exp said:

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Is it mandatory you liquidate hard money in favor of melting fiat? Just give the kids the metal and call it good. I'm not familiar with will stuff though.

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That's what I was wondering. Would it be easier to just divide the coins amongst the heirs? Guess it depends on the personalities, ages, and stages of the heirs. Some may like the coins. I know I would.

Not a terrible idea. Just thinking the grandkids, who are 18, 25, and 30, won't know what to do with the PM and would rather have a simple check at the end of the day.

"Here's the PM's, here's some reputable Ags which be willing to buy them off you at fair price for dollars (or better yet bitcoin), or reputable online buyers and estimated value."

Boom. Done.

Plus it might be valuable experience gained in the process of horse trading for these "rare" metals. Adventure awaits!

Tough spot to be in for sure. I'd hesitate on selling the coins for cash/checks, even to inexperienced inheritors.

I just imagine the young'uns keeping a few and thinking about the loved one every so often when the shiny metal hits their eye.