Investing In Gold And Silver For Capital Preservation And Appreciation

Where To Sell Gold Coins And Profit From High Gold Prices

You've looked over the newspaper and have seen the latest gold spot prices and you've made the decision to sell gold coins from your collection. The trouble is, where do you go to carry out the deal?


You\’ve looked over the newspaper and have seen the latest gold spot prices and you\’ve made the decision to sell gold coins from your collection. The trouble is, where do you go to carry out the deal?

Most people have gold krugerrand or gold double eagle coins in their collection that they wish to sell when prices hit an all time high, and there are many possible venues to get the most for your money.

Below are the choices sellers have to decide from.

Individual collectors are your first possibility. If you have coins that have value not only intrinsically, but also because of their scarcity or uniqueness, then these folks might just pay top dollar to have them. They will tend to favor rare items, like old American gold coins, rather than new bullion, however, so you might not be able to liquidate all of your holdings this way.

Second, you can try your local coin shop. Depending on the size of the store and the activity of the owner, they may or may not be able to handle your collection, especially if it\’s particularly large. They also may not be experts in what you have, so their offers may be quite wild.

If you don\’t feel comfortable approaching individual dealers, you might want to consider hiring a broker. These are individuals or companies that will assess your collection, find buyers in the marketplace who would be interested, and then negotiate the details of the sale. This labor naturally comes with a cost, generally taken as a percentage of the final sale.

You can submit the coins to an auction, which you can either conduct yourself online, or find an auction house to do it for you.

Regardless of which arena you choose, there are a few things to keep in mind. Understand that you will not get market price for your coins. Buyers will want to make a profit on the deal, just like you, and they will use the uncertainty of tomorrow\’s gold price as leverage during a negotiation to lower the price.

Protect yourself from those unscrupulous characters who will look to rip you off. Check feedback other people who sold to them, and do an online search to check facts and research their reputation. Don\’t be afraid to walk away from a deal if something doesn\’t seem right, no matter how much money they are offering you. If your collection is really worth it, another buyer will be right around the corner.

There are a lot of options for where to sell gold coins, and you need to do your homework, and understand the nuances of each venue when you choose.

Afraid of getting ripped off? It happens every day when people try to sell gold coins. Visit Tom\’s blog and see what he\’s doing to keep his American Gold coin collection safe and ready to sell for top dollar when the time comes.

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