Friend will inherit gold

Wow that looks big time scammy. Do you know the specifics of the coins? American Gold eagle coins have a good secondary market. I have personal experience buying/selling through a company that works with fidelity. My client at the time would get them delivered when he got close to the 100k. These were bought through a brokerage acct.

If it is gold American eagles you can open a brokerage account with Fidelity or someone that clears transactions through National Financial Services. They can help facilitate the depositing and trade.

If they banked with Iberia... Iberia merged with First Horizon and their wealth group clears through national Financial. The coins could be shite. Find the details of the coins and then I will know if there is a good secondary market. Below is the website for fidelitrade. If the coins are any of the ones on this list then they have value and a good secondary market

Fidelitrade

One other thing. If it is one of the legit coins like American Gold eagles or American buffalos or Krugerrands etc instead of some collectors bullshite most brokerage houses have a way of selling them. The charge was 50 bucks plus a percentage. Most financial advisors/planners I dealt with just covered the cost and sometimes would add flat 50 bucks on top of the cost for their effort facilitating the transaction They were just happy to help their clients.

Best of luck. Seriously find out the details of the coins because they may have real value that can be shipped and then liquidated.

quote:

---

His father got duped into buying Rosland Capital gold coins.

---

as i understood it only circulated US currency couldnt be melted down and/or sold for its gold weight?

why cant you just sell them the same as an ingot of gold if they arent legit certified currency?

i have an old gold coin from the 80s and its worth way way more as its gold weight then it is as coin currency value, so when im ready, it will have an accident with a blow torch, and then be sold as scrap gold nugget when i sell it

quote:

---

i have an old gold coin from the 80s and its worth way way more as its gold weight then it is as coin currency value, so when im ready, it will have an accident with a blow torch, and then be sold as scrap gold nugget when i sell it

---

So I’ve heard he HAS to sell it back to rosland. He can sell to anyone right?

It’s probably in his best bet interest to sell back to Rosland. They likely sold them at a significant mark up, with a guarantee they will buy them back at spot price instead of some sort of meltdown price (which is also the only reason I can think anyone would add serial numbers or tamper proof packaging to a precious metal). Nonetheless, I suspect the front end markup was astronomical.

quote:

---

So I’ve heard he HAS to sell it back to rosland. He can sell to anyone right?

---

never assume anything is standard, each state most likely has its own rules.

any jeweler will make him an offer on coins, whether its a good or bad offer is up to you to find out.

i know mine is worth more melted down then it is as a coin, but since mine is a legal tender circulated coin, you break the law melting it down to do that. but whos gonna come to your house to catch you in the act of doing it? i know what im gonna do, but i cant tell you if you should break the law or not, thats on you. but first you need to find out if it can be sold as scrap gold or as a coin

i bet any jeweler in your area can answer these questions and give you a price for a single coin when you go check. then you know how to proceed

So I’ve dabbled on and off with metals for a decade plus. It’s really all about timing. If you can get physical bullion when prices are low and ride it out until prices jump there’s money to be made.

Gold is currently at $1,788 per ounce. Often referred to as the “melt value”. Only 3 or so years ago it was close to $1,250. If Grandpa was buying these back then or earlier; he’s in the money.

Currently, the gold in that 1/4Oz coin is worth about $447.

The issue you have is the coins are undesirable. There’s really no numismatic value to a coin collector. Grandpa was given some bad advice.

Here’s in the States it’s all about Gold Eagles and Buffalos. Some people pick up South African Krugerrands.

So the best you are likely to get is the melt value. You can try selling them back; but, any gold dealer will take them if genuine. APMEX is a big and very well known buyer.

Realistically; you might not get melt. The dealers make their money on the spread. Buying gold for below melt and selling it with a markup. $400 a coin may be offered by many.

As to whether or not you should keep them? Gold; generally goes up in value over time. It does not keep up with the stock market. It’s said that gold is a hedge against inflation. We’re witnessing historic inflation and golds price isn’t going up. I’d say now is as good a time as any to sell. I’m considering it myself. The arrival of Crypto has really hit metals hard. I don’t see anything on the immediate horizon that’s gonna send values soaring.

If he has receipts showing what he actually paid for the coins that could be helpful. If the resale is actually lower than he paid, this could be used as a capital gains loss for taxation purposes. If the value has gone up, burn the receipts and find someone willing to buy with cash. ;0)

Thank you


I would assume he’s got a paper trail.


The coins are blisterpacked with serials. They’d have the receipt. I guess they can lie.

Contact local jewelers and coin dealers. Avoid anyone buying them at a discount to current spot. Go outside your area until you find a good dealer. Seriously doubt you get anything over premium but ask anyway!

Note: some people will buy these straight up for cash, no questioned asked. Cash is cash and so on…..

These are not legal tender coins but rounds. They are worth their value in gold weight only. Maybe the original company will buy them back but that leaves a paper trail…

So this got me curious about Rosalind Capital. I mean who doesn't love the commercials.

Gold is worth $1,813.60 right now.

Metals have been hard to get near spot prices for a few years.

Cheapest 1 oz Gold Bar on Apmex is $1,886.59 (gets cheaper than that if you buy in multiples).
I check the Rosalind capital website and it says to call for pricing. Somehow I assume they aren't offering a great price.