How to Sell Your Gold and Silver Coins for the Best Price
Got some gold or silver coins you want to sell? Make sure you get the best deal for your coins. Find out how to get the best price for your gold and silver coins below.
Throughout human history, gold and silver have been some of the most reliable sources of wealth.
Despite the power of financial markets and the emergence of cryptocurrency, gold and silver continue to be highly valued by people. For example, according to the BBC, the Great Recession of the 2008/09 saw a 400 percent increase in sales of gold coins.
Do you have some gold or silver coins you want to sell?
If you want to find out how to sell gold coins and silver coins, we’ll tell you everything you need to know.
How to Value Your Coins
The golden rule of selling gold coins is never put anything up for sale until you know how much it’s worth. You don’t want to undersell your coins.
Always remember that the value of the coin is not necessarily the same as the price. The price is what you paid, whereas the value is what someone else is willing to pay you for the same coin.
Anyone who’s been in the business of selling coins for a while knows that there’s no simple answer to – what’s the value of a gold coin?
There are a number of factors that need to be considered. These include the following:
- Date
- Mintmark
- Condition
- Actual Gold Weight (AGW)
- Rarity
- Demand
Together, you can estimate the value of your coin. Some of the factors are more difficult to estimate than others. For example, the demand for the coin can only be assessed by speaking with experts and buyers. While the AGW is easy to discover.
The AGW provides you with how much the value of the coin per ounce of gold. You can find this out here. It’s the value of the coin melted down.
You can use this value as a benchmark for how much you value the coin. Never sell any coin for lower than the scrap value.
Where to Sell Your Coins
Now you know how to value your coins, what about where to sell your coins? There are a number of different places the consider:
- Local Buyers (e.g. pawnshops)
- Coins Shows
- Auctions
- Direct sales (e.g. eBay)
- Online coin dealers
Make sure you choose the right buyers for your coin.
Which Coin Dealer for You?
You shouldn’t just sell your coin to the first buyer that comes along. It’s important to consider a number of different factors. These include:
- Knowledge
- Reputation
- Offer
By considering the knowledge, reputation and the offer of each dealer, you can find somewhere to sell your coins.
How to Sell Gold Coins (and Silver)
Now it’s time to think about how to actually sell your coins. You need to do the following:
- Take a good photograph of the coins
- Include weight, value and other details about the coin
- Shop around for the right dealer
Start Selling Your Coins Now
Now you know how to sell gold coins and silver coins. It’s time to start making money by selling your coins.
Americash Jewelry & Coin Buyers has been buying coins and currency, including gold, silver, and even palladium for its entire lifespan. With twenty years of experience, we serve clients both locally and nationwide.
Do you want to sell your coins? Get in touch with us today for an offer!
