Informational Article

Selling Gold Coins - What you need to know!

Purchasing gold coins for investment can prove to be quite profitable. However, in order to cash in that profit, you must first sell the coins. And, knowing how and where to sell these coins can make a difference in the amount of your overall profit.

In fact, when the need comes to liquidate gold coins, having this knowledge helps in getting the best overall value for those coins. If you own a number of coins, the first step is to determine which coins to sell. Once you have decided this, you should locate any associated paperwork and / or certificates for that piece as well as the presentation case if applicable. The next step is to decide where to sell your gold coins.

Where to Sell Gold Coins

There are a number of places where gold coins can be sold. Two of the most popular, though, are coin dealers with physical locations and online dealers.

How to Determine Price

In addition to determining where to sell your gold coins, you must also come up with a good idea of the actual value of your coins. There are a couple of steps involved in doing so. These steps include:

  1. Determining the actual gold weight of the coins.
  2. Determining your gold coin's melt value by taking the spot gold price per troy ounce and multiplying it by the actual gold weight of your coins.

When deciphering the value of gold coins, you will also need to consider two factors. These are the intrinsic value and the collectors' premium value. Here, the intrinsic value of a gold coin is the value of the actual gold itself. Therefore, if you were to melt the coin down and sell it as gold bullion, that would be its intrinsic value.

The collector's premium can add a great deal to the value of gold coins. If you have a rare gold coin that could be considered a collector's item, then it is a good idea to do your research and determine the approximate worth that the coin would have to a true collector.

In this case, there are a few primary factors that will contribute to the collector's value of a gold coin. These include the coin's rarity, its grade or condition, the quality of the coin, and the popularity of the coin (this is often linked to the coin's historical significance). Please visit this page for detailed information on how to grade and determine the value of gold coins as well as the coin grading system and major coin grading services.

When selling gold coins online, you will also need to determine other cost factors such as the dealer's commission and any other fees such as shipping charges or administrative fees, as these costs can factor in to your overall profit that you generate from the coins.