Information on How to Sell Gold Coins

Sell Gold Coins

Gold EagleIf you want to sell gold coins, you need to learn all you can about them. There’s more to selling gold coins than simply dropping them off somewhere. You could do that, but you wouldn’t get your money’s worth. Collectors love gold coins. They’ll pay top dollar for any coin they want bad enough. But you have to also know the value of your own collection.

Are your coins valuable because they are rare? Or are your coins only worth their weight in gold? You need to answer those questions before you try to sell your gold. Being uninformed leaves you open to scammer who might try to rip you off.

Examine your collection carefully. Take the coins out and look at each one. Use identifying marks and dates to search for information online.

For example, do you have an 1850 gold coin missing the words “In God We Trust”? It could possibly be a rare coin known as a Type One Double Eagle.

Do you have another version of the coin with “In God We Trust” included, but the value of the coin is listed as “Twenty D”? That sounds like a Type Two Double Eagle coin, one of which sold at auction for more than $200,000.

As you can see, it pays to know what your collection is worth. You could end up accepting $5,000 for a $50,000 coin.

Gold coins in general are highly prized by dealers and collectors. The coins were used just like any other form of money up until 1933. During that time, the American government decided to take the gold coins out of circulation.

They were then melted down into gold bars. That’s why gold coins from this time period are so valuable. Since most of them were melted down, it’s very difficult to find any. And people who own them hold on to them tight.

If you have a rare coin, you definitely want to get all you can for it. Once again, you’ll only know it’s rare if you do your research. You might actually decide you don’t want to sell. Your coin will only increase in value as it gets older.

If you decide to sell your gold coin, search for a collector or a dealer who sells to collectors. You could also consider a pawn shop, but they will not be willing to pay as much as a dealer or collector. What you need is someone who recognizes the true value of what you have.

A dealer or collector will pay an amount closer to the true value of your collection. For them, it’s more about the true value of the coin and not just the scrap gold.

A collector won’t be thinking about how they are going to turn around and sell the coin for profit. A dealer will know they can get a fair asking price from a collector.

There’s a lot more to learn about how to sell gold coins. Do your research before you let a good thing get away.

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