Gold is a valuable metal and has long been useful for the manufacture of jewelry. Its prices keep on soaring, and there are numerous reasons to sell your gold jewelry and coins. However, when selling valuables like gold, there are vital aspects to keep in mind to make the most out of the sale. The most important thing to know is where to sell your gold coins and to avoid underselling your coins.
How can you locate the right buyer for your gold?
Various online sites buy gold coins, and it’s easy to get a buyer for your gold. There are also exchanges where you can advertise your coins. What’s more? You can sell through eBay and other reputable auction sites. If you lack sufficient experience selling gold coins, opt for online gold buyers. But, beware of scams and only trade with reputable gold buyers.
How can you determine the worth of your gold coins?
Gold comes in varying sizes. Separate your karats, and don’t mix them. Check the size and weight of your coins, and know the prevailing prices in the market and set a price for your gold coins. The best way to approximate your coins’ worth is by checking the prices at the US and London Futures market each market day.
You’ll get to know the wholesale price for a significant number of coins. If seeking to sell your coins to dealers or gold stores, expect a higher rate than the wholesale price. But, keep your eyes on the scale, mainly when selling to house party buyers.
How much money can you fetch from selling gold coins?
First of all, do an inventory of what you have. There are distinct types of gold, and all sell for different prices. Some are not pure gold and fetch a lower price. The Canadian maple leafs are some of the world’s premier bullion coins. The 24-Karat bullion coins consist of approximately 99.9% of gold and are the best selling.
On the other hand, gold eagles feature 22-Karat gold, and they contain 91.6% gold. They also have some percentage of copper-silver alloy. Krugerrands also fetch a reasonable price. They are almost similar to the gold eagles and features 22-Karat gold, which is alloyed with copper.
Do you need a gold dealer to help in selling your coins?
A gold dealer will help you sell your gold to gold collectorsor investors investing in gold bullion. Some of the dealers operate within the country while others are veterans and have licenses to export gold from other countries. The dealers will only buy your gold if satisfied with their validity and genuineness. You can also hire a gold dealer to help you sell the coins.
The bottom line
With the availability of various online gold buyers, it’s now easier to trade your gold coins. However, you must understand that the prices keep fluctuating, and timing is critical. Avoid rushing to sell your coins when the prices are low; keep monitoring the market trends, and only trade them when you’re sure to fetch the best amount from the sale.