Ed’s Coins

My review concerns the price these guys offer for coins. I have never been in the store. I have called them twice to sell them Canadian Maple Leaf Gold one ounce coins. At the time of this writing my current coin dealer is offering $ 1186 per one ounce gold coin. I am not in the business so I presume a coin dealer can get more per coin than I can for sure. Spot right now is $ 1175 per ounce for gold. These guys tell me that they pay $ 100 less than spot for these coins. That is just out and out greed and highway robbery. So if I bring 10 coins in all they have to do is either box them up and ship them to a wholesaler like Amark or Kitco and they will make over $ 1000 just for shipping them! This is insane. They can make even more money if they retail them in their store for more. Some stores offer around spot for these coins. My coin guy offers $ 8 above spot. Most coin shops offer about $ 40 less than spot which is still pretty low. I called Rocky’s pawn shop and they were $ 20 lower than Ed’s but everyone knows only super desperate people are foolish enough to sell to a pawn shop. Ed’s offer is way down there with the pawn shops. Nobody that is a serious investor would sell to Ed’s. I wonder how many coins he is able to buy at these insanely low prices. It makes me want to open a coin shop. If he is able to buy a lot he is hitting home runs all day.