Selling Gold Scrap and Silver Coins
Canadians need to be a bit careful as to where they sell off their scrap gold and silver, or gold/silver coins.
"Scrap Gold" and "Scrap Silver" are basically anything that isn't a gold/silver bar and isn't a coin minted by a national bank (like the Kruggerands, Canadian Maples, US Eagles, and pre-1968 Canadian quarters and dimes). In other words, silver and gold jewellery is considered "scrap.
Many companies/groups will try to buy these products at a great discount, and then turn around and sell them at a much higher price to a refiner. So be observant of such groups that may be essentially scamming you on your valuable gold and silver scrap or gold and silver coins. This is especially true of the programs that may advertise on TV/radio/print, they need to make up for the costs of marketing in what they pay to their customers. The groups that pay the best amounts of money for gold/silver won't be able to spend a great deal of money on marketing, because they're actually paying most of the money they get to you, the customer.
Be very wary of companies that don't even tell you what price you'd be getting for each ounce or each coin upfront. Be sure to always do your research to get the best gold/silver price up-front.
For gold/silver bullion (ie: bars), Kitco operates a refinery themselves and can offer very good pricing on gold and silver bars, however, they do not buy gold/silver scrap/coins from individuals. Their pricing on gold/silver sales are pretty good, but overall, gold and silver product prices are very high compared to the actual price of silver and gold (far above spot).
Kitco has both Canadian and US mailing addresses. It is recommended by them that you send your gold/silver by registered mail, since this form of mail ends up getting sent in safe and secure manner along its entire journey.
Surprisingly, in my experience, Ebay can be a very good sales venue for gold/silver coins, and maybe jewellery too. If you do sell on Ebay, be very careful for scams/frauds and be mindful of Ebay's fees and commissions, they may eat away any advantage, but do your research!
Does anyone have any recommendations for gold/silver scrap and coins? What kind of price and service did you get? Please leave a comment about where the pricing is best!