A Guide To Selling Gold Coins

Gold has instant liquidity in many parts of the world. Gold is also a currency that is recognized worldwide and has been for thousands of years. An ounce of gold is used as a standard to value all of the currencies of the world against. No matter where you go you will be able to turn on the market news or do an internet search to find out what an ounce of gold is trading for that day in the local currency.

Many dealers may wish to bid on your coins should you decide to liquidate, however it is suggested to develop a relationship with a trusted and established gold trading firm. Quite often the company you bought the gold from is the best place to sell it. They will have record of the coin and its sale, and they will also have a market ready to resell your coin into (though they shouldn’t need to resell it to buy your coins back).

Gold bullion coins are a very recognizable type of gold coin. Examples of gold bullion coins are the Gold American Eagle, the South African Krugerrand, the Gold Canadian Maple Leaf and the Chinese Panda.
If you want to sell your gold coins you can call prospective buyers by phone or through the internet. The buyer can give you the value that he wishes to buy your gold bullion coins for. The price quotation that you will receive from the gold buyers may vary depending on when you want to sell your gold coins. The price of gold coins changes regularly so the price today may increase or decrease by the time you actually want to sell them. If you really wish to sell your gold coins, timing is very important. You have to sell them when the price for gold bullion coins is high. When the price is high, send your gold coins immediately to the buyer before the price goes down. Once the gold dealer receives the gold coins then you will be immediately sent a check as payment. Any company you decide to liquidate your coins through should be thoroughly checked out through the Better Business Bureau and the Attorney General’s office in the state where the company is located.

Rare gold coins are another type of gold coin that is also easily marketable. Again it is best to have an established relationship with a gold firm for your purchases and liquidations. However, quite a few coin dealers and jewelers buy these rare gold coins at a fair price. However, the small-scale gold buyers and television ads that tell you to mail in your gold tend to pay only a portion of the spot price for your gold and will not offer you any premium for the quality or rarity of your coin. Banks and lending institutions will also loan money against your precious metals portfolio, and this may be an option other than liquidating your position.

Gold coins that are certified by the top coin grading firms such as NGC and PCGS are the most marketable. Rare gold coins that are not certified or are certified by firms other than the two mentioned above, are not as in demand for coin dealers. Rare gold coins that are certified by NGC and PCGS will be more immediately recognized and trusted and a higher premium is generally paid for these coins by the coin dealers. Loose gold coins that are not certified or graded will have to be individually evaluated and appraised before liquidation.