Selling Gold Coins for Cash

Selling Gold Coins

Selling gold coins can come in handy if you’re strapped for cash. You might have a jar of old coins your grandparents gave you.

They might be worth more than you realize. Perhaps your grandparents want you to help them sell their old coins. In any case, you need to find the right place to sell gold coins.

Departing with items that have sentimental value isn’t always easy. It depends on who gave them to you. You have to think about what’s more important. Letting go of items with sentimental value is hard. But if the rent is due and you have no cash, selling those gold coins might be your only option.

The first step is to get your collection appraised. Just because coins are gold, doesn’t mean they’re worth a million dollars. On the other hand, your coins just might be worth a million dollars. You need to know one way or the other.

Researching the value of your gold coins is fun. You get to dig through your collection and examine each coin. It’s kind of like a treasure hunt. You might discover a lot of interesting things about your coin collection.

Once you start researching your coins, you’ll find out what type you have. Gold bullion coins are special edition coins not used for currency. They are usually made to commemorate a special event or person. Only a certain amount is sold before the coins are no longer available. You might also have gold antique coins that are collectible. Or perhaps your coins are only worth their weight in gold.

Searching online is probably the easiest way to find out about your gold coins. You can find out how much a particular coin is worth. Find out if there are different versions of the same coin.

The entire process can be quite fun if you enjoy looking at old money. Check with local coin dealers after you know the value of your coins.

Take your collection and see what they have to offer. You might get lucky and sell your collection on the spot. Since you have an idea what your coins are worth, you’ll know if the offer is good.  If you think you can get more money elsewhere, hold out and visit a few other dealers. You might receive an offer that’s much better than the first one.

There are alternatives to selling to a local dealer. Some companies buy gold through the mail. These places are usually good for selling gold jewelry. The reason is because they are not concerned about whether or not a coin is an antique. They just want the gold for gold scrap meltdown.

For gold coins, you might want to stick with a collector or dealer. They care about the actual value of the coin, and not just its gold content.

Selling gold coins for cash is an adventure. The excitement of discovering the value of your collection is fun. And the anticipation of what you’ll receive is exciting.

How Can I Sell My Scrap Gold?

How Can I Sell My Scrap Gold?

A few days ago a very good friend called me. Her son had been digging in their backyard and found what appeared to be a very valuable diamond ring. Because there was no way of knowing how long the ring had been there, my friend called me to ask more about the ring. Several of the diamonds were missing, so to her it really wasn’t worth keeping. Since times are hard, and just about every one could use some extra cash, I wasn’t surprised when the next words from her were, “How can I sell my scrap gold?”

Generally a jewelry store would be the first place to go to see about selling your scrap gold, since they can pay a very decent price for a ring such as my friend’s. However, some jewelry stores aren’t willing to purchase items that need major restoration and some don’t want jewelry with any damage.

Many people may suggest going to a pawnshop. However, this may not be the best place to take your jewelry since they often offer very little money for it. Pawnshops are used to dealing with people down on their luck, and often take advantage of that situation by not offering a good price for people’s valuables.

Sometimes you can find brokers that want to buy your gold if you know where to look. Often these guys will place an ad in the newspaper offering to buy your old jewelry, coins and other precious metals, but they can also be found at trade shows.

If you’re not in a hurry to sell your gold, auctions may be a great opportunity. However, local auctions are primarily for those wanting to sell a lot of stuff. You may find an auction house that will list your individual items, but these places usually want items in decent condition.

Online auction sites like eBay and others are a good choice since they can offer your jewelry to a wider audience. You should be aware however, if your item doesn’t get any bids, you may still be responsible for listing fees, which usually are not very much.

Often the best resources are your friends and family. There’s no shame in asking family and friends, “How can I sell my scrap gold?”  They may very well know of a few places that you didn’t think of.