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Sunday, February 05, 2006

Where to Sell Gold Coins

Sometimes we have a need to liquidate some assets and where to sell gold coins can be an important issue if one is to get the best value for one’s gold coins.

Hopefully we have kept our gold coins in the condition in which we purchased them and have looked after them carefully, kept all the paperwork and any certificates and presentation cases the coins came in.

The next step is to decide the coins we wish to sell by searching coin dealers and auction houses to find out what the current prices are being asked for the coins we have. This will give an idea of their current value. Then we can ensure we get the best possible price.

The next step is to find the right outlet to sell our gold coins.

There are some alternatives and each has their advantages and disadvantages.

Firstly one can advertise in the local paper for collectors. Although you might find a collector willing to pay top dollar for your coins this is a rather hit and miss method.

One can use an auction house. Online you have eBay and several others and, again, this is hit and miss as you have a limited time and if the person who wants your coins is not watching, the bidding may be low. One does not always get top dollar at auctions.

The other alternative is to sell to a reputable dealer. Possibly the dealer you purchased the coins from which is usually fairly easy as there will be a record of the coins and, provided there is no change in the condition, the dealer will be happy to buy them back at an agreed upon price.

The dealer will usually give you a fair price, not top dollar obviously as he has to resell the coins again and is in business to make money and the transaction will be smooth. Dealers are usually happy to repurchase coins, creating turn over and giving them stock to sell.

If you cannot or do not wish to sell back to the dealer you purchased from, browse around and study the prices, dealers and auctions, you are sure to find where to sell gold coins and get a satisfactory price as well!



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