My Nucleo experience selling 40%ers. updated 9-28, pics

[Joliet Jake]

Thought I would share my experience with Nucleo as it happens. I will update this as things happen. First of all, the market value of silver at close today , Sept. 17th, is 17.20

Today I opened a Nucleo account. I also decided to sell a few of my CRH 40%ers.
So, after signing up, I ordered their "Incoming Shipping Service" for 15 rolls ($150 face value).

From coinflation.com, the melt price of 15 rolls is $763.16
(300 40% coins, 44.368 troy ounces, with silver at 17.20 per ounce)
So, in a perfect world, I world get $783.16. Take away the $150 I "paid" for the coins, and that's 633.16 profit.

But, the world is not perfect, and so far I have paid $23.74 for the "Incoming Shipping Service", which is a shipping container and prepaid label. You can ship cheaper on your own, but for my first order I thought I would see how this works.

The Bid/Ask today at Nucleo is 44.30 - 47.97 per roll.
This seems a huge spread to me, and both are well below the 50.88 from coinflation.com. I think 40% coins are not very desirable in small quantities for bullion, since the Ask for 90% coins is dead on the coinflation number.

If I sold today at the Bid, I would get $664.50, minus the 1% fee = $657.85

If I sold today at the Ask I would get $719.55, minus the 1% fee = $712.35

I will not sell until Nucleo actually has the coins, so who knows where silver will be then.

 

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[golden silver]

Re: My Nucelo experience selling 40%ers.

Hold on tight because silver is about to take us for ride my friend. I would hold on to what you got. But I am interested on hearing about this process go.

Golden Silver

 

[Yinzi50]

Re: My Nucleo experience selling 40%ers.

Please keep us posted on the process.

 

[markmopar]

Re: My Nucleo experience selling 40%ers.

I've used Nucleo quite a few times to sell coin, both 40% and 90%. All transactions went smoothly. I never used their shipping service, though.
Processing times can vary. The last trade I did last month went very quickly. I mailed late Monday afternoon, they received Wednesday morning and Friday I had a wire transfer in my bank account. Back in the Spring the same process took almost two weeks.

 

[obediah]

Re: My Nucleo experience selling 40%ers.

Please keep us posted on the process.

Yes I too am very interested in your experience, and plan to sell, not all but in lots of say 50 rolls ever so oft as price increases preferably. Definitely do not want to hold too long & take a beating- figure selling on way up is wise move.

If others have or do use Tulving or others please post your experiences, am sure ALL of us will appreciate your wisdom and insights.

 

[Joliet Jake]

Re: My Nucleo experience selling 40%ers.

September 24, 2009.
The box from Nucleo came today. It is a small plastic suitcase like thing, with foam padding inside. I checked the 15 rolls (had to replace one holed coin), and put the taped together rolls in two bubblewrap bags that were provided into the case. Attached the security wires, and put on the pre-paid label. Called Fed-Ex, and they will pick it up later this afternoon.

So, one week exactly to get the shipping case. Silver is now down to 16.32, from 17.20 last week.

Update, as of 9-25, the coins are in Texas at the FedEx facility.

 

[coinmojo]

Re: My Nucleo experience selling 40%ers. updated 9-25, pics

I shipped out 18 rolls to kitco around the 17th booked the price that day and shipped them out in a small flat rate box for around $16 fully insured and the check has been sitting in my bank account for a couple of days now.

 

[obediah]

Re: My Nucleo experience selling 40%ers. updated 9-25, pics

I shipped out 18 rolls to kitco around the 17th booked the price that day and shipped them out in a small flat rate box for around $16 fully insured and the check has been sitting in my bank account for a couple of days now.

But what is actual net profit from doing this or per coin profit? (if you feel ok saying) what am looking to gauge is is it better than selling on Ebay, my ebay average selling total or 19 rolls was $1.75 per coin avg. net

 

[Silver Stripe]

Re: My Nucleo experience selling 40%ers. updated 9-25, pics

Thanks for the pics Jake. I like the case, wonder how much they would charge for one without the shipping label LOL.
Mojo, I got a bundle of them small flat rate boxes, I haven't been brave enough to ship with one without putting it into a medium box, that and the fact one wouldn't hold all I wanted to ship. I find them pretty flimsy but I spect a few layers of packing tape would fix that. Still heavy for such a small package though. HH Mark

 

[coinmojo]

Re: My Nucleo experience selling 40%ers. updated 9-25, pics

Mojo, I got a bundle of them small flat rate boxes, I haven't been brave enough to ship with one without putting it into a medium box, that and the fact one wouldn't hold all I wanted to ship. I find them pretty flimsy but I spect a few layers of packing tape would fix that. Still heavy for such a small package though. HH Mark

I't's not too bad. I wrap the 18 rolls tightly togeather with cardboard and newspaper and than place them in the S.F.R.B. sorta double packing them. thats all I could fit in that small box. + with ins. wasen't really worried. the weigt wasen't too heavy. extra tape around all edges.

Mojo

 

[coinmojo]

Re: My Nucleo experience selling 40%ers. updated 9-25, pics

But what is actual net profit from doing this or per coin profit? (if you feel ok saying) what am looking to gauge is is it better than selling on Ebay, my ebay average selling total or 19 rolls was $1.75 per coin avg. net

about $1.48 per coin net after S & H.... $.176 per gram x 23 grams per $1 face = $4.05 or $2.025 per Half dollar befor S & H this was the quote on 9/8/09

Hope that helps you.

I also can tell you I got a better price per coin on eBay but than there are other charges from pay pal and listing fees and final value Etc. Etc......

Mojo

 

[obediah]

Re: My Nucleo experience selling 40%ers. updated 9-25, pics

But what is actual net profit from doing this or per coin profit? (if you feel ok saying) what am looking to gauge is is it better than selling on Ebay, my ebay average selling total or 19 rolls was $1.75 per coin avg. net

about $1.48 per coin net after S & H.... $.176 per gram x 23 grams per $1 face = $4.05 or $2.025 per Half dollar befor S & H this was the quote on 9/8/09

Hope that helps you.

I also can tell you I got a better price per coin on eBay but than there are other charges from pay pal and listing fees and final value Etc. Etc......

Mojo

WOW, that is well below my NET from selling 19 Rolls on Ebay of 1.75. Any Body else,with experience selling larger lots please do comment about net.

 

[Joliet Jake]

Today, 9-28, my coins now show up in my portfolio. I sent them in as 1 lot of $100 face, and 5 lots of $10 face, so I guess that is how I have to sell them. Silver is at 16.20 (3pm), and the bid/ask is 41.30/45.70 Per roll. Since silver is down a buck from when I shipped, and went up a bit today, I will hold for a while. At bid = 41.30 I would get less than $2 per coin after shipping and fees. Melt is 2.39 per 40% Kennedy.

So, to answer the big question: It took 11 days to get the coins into my account using Nucleo's "Incoming Shipping Service". Your mileage may vary.

Starting on a Thursday was probably not the best choice. Monday or Tuesday would probably get the coins there in 5 to 8 days, as the first weekend seemed to be the slow point. Just shipping coins in via Fed-Ex or USPS would eliminate the wait for the box and shipping label, and be much faster. I will do this next time, after I can trust the service (ie. get some money from Nucleo).

 

[Emperor Findus Cladius]

From your last entry it sound like you send the coins to them, and they are stored until the time you say sell, and they give you the cash. Is that the way it works?

 

[Joliet Jake]

I think so, Wayne. The coins show up in my "Portfolio", right on the main page of the account. Of course, my exact coins are gone. I think they mix all the stock together, so if you send in that sweet gold eagle you think would grade at MS70, you will probably never see it again.

 

[cyberdan]

I just got a check from my refinery for $346.94
I had sent in $80 face of 40% (160 coins) Their only fee is 10%
which come out to $2.17 per coin (net $1.67 each)
I think silver was in the high 16's when they setteled.

does that sound reasonable?

 

[ugotit22]

i personally sell to a buyer on tnet.
he is great ive dealt with him a few times and he always pays more than i ever see anyone paying. If you do alittle reasearch you can hit melt value or better.

 

[obediah]

I just got a check from my refinery for $346.94
I had sent in $80 face of 40% (160 coins) Their only fee is 10%
which come out to $2.17 per coin (net $1.67 each)
I think silver was in the high 16's when they setteled.

does that sound reasonable?

Ebay did better for me selling 5 lots (2,3,4, & two of 5) total of 19 Rolls, net was $1.75 each.

 

[myprecious]

I just got a check from my refinery for $346.94
I had sent in $80 face of 40% (160 coins) Their only fee is 10%
which come out to $2.17 per coin (net $1.67 each)
I think silver was in the high 16's when they setteled.

does that sound reasonable?

Would you mind if I use your refiner as well.
PM me his contact # if you don't.

Thanks CD.

 

[obediah]

I just got a check from my refinery for $346.94
I had sent in $80 face of 40% (160 coins) Their only fee is 10%
which come out to $2.17 per coin (net $1.67 each)
I think silver was in the high 16's when they setteled.

does that sound reasonable?

If there ONLY fee is %10 net would be $1.95 ; I'm confused. If your Check was 346.94 on 160 Coins ($80 Face) the nyour net was NOT$1.67 but 2.17 per coin.