Selling Your Gold Coins

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What should I know when selling gold bullion coins?

Selling Your Gold Coins

You're in the money, the skies are sunny, you're selling your gold coins. But before you hang your shingle or throw a Web site together, you should know selling gold can be a delicate business. Some coin collecting tips before you approach a dealer or other buyer:

o Review the price history of any gold coin you purchase. That way, you'll avoid price markup.
o Check the blue book gold coin values and decide how much you're willing to accept for your Brilliant Uncirculated, Extremely Fine or Good US Gold Coin commemorative.
o Remember to multiply the troy ounce value of any gold coin, including old or rare gold coins, by current gold prices and the face value of the gold coin.
o Buy a selection of genuinely rare gold coins to alternate with the more popular gold coins.
o Join a gold coin and rare coin network. Monitor what prices sellers are offering and what buyers indicate they're willing to pay.
o Remember that gold coins are a solid investment and that gold coin values seem safer (although they may not be!) to buyers than stocks and bonds.
o Check the condition of your coins. Don't be afraid to discount them, but not so much that the buyer thinks you're trying to pull a fast one with that Liberty Head US gold coin.
o Get price quotes from several different dealers before deciding where to sell your gold bullion coins.
o Don't call prospects during dinner or you risk being branded as a telemarketer. Many gold coin scams involve telemarketing fraud.

While you probably won't quite your day job, selling gold coins can be a great way to earn extra cash while havign fun with your coin hobby.

   

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