A question by timetosell J How to sell gold coins for cash and which is the best way to sell gold coins? Where can I sell my gold coins for best price??timetosell
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Best answer by Guru: Coins are good collections especially if they are made up of gold and silver. However, an idea to sell gold coins would eventually cross your mind. This most particularly if you know that it could result to a profitable transaction.
Selling gold coins is a trade that has benefited various groups of people. In fact, gold market has been in existence long before you know it. And due to the its benefits, even the descendants of those who have been related to selling and buying gold coins have stick to doing the same trade.
There are a number of reasons why people would sell gold coins. As you may have guessed it, money is still the major reason why people would give up their gold. But aside from that, it could also be simply because you no longer want to continue with your hobby of collecting gold coins.
For whatever reason that you have decided to sell gold coin, it is essential that you understand the fundamentals of this trade. Most importantly, you must know when is a good time to sell gold coins?
Now, selling gold coin can be quite tricky.
The truth is, you might even make a wrong or bad deal on your first try. For that there are certain things and processes that you must keep in mind. Additionally, there are certain questions that you will have to answer first.
One of these questions is where to sell gold coins. In fact, this is a very common question raised by first time sellers or those who have never been related to this kind of trade.
Another thing that you have to know is when to sell them? Your gold coins could have varying prices. This happens for a number of reasons. Some of them are weight of the coins, their thickness, and the year that they were made.
In some cases, buyers might not accept some of your gold.
This is quite possible because not all gold coins are valuable. Some of them were made simply because money is a very important commodity.
To save yourself from spending unnecessary time, going back and forth to some buyers and auctioneers, then you must first do your homework. This means that you have to be sure that your coins are among those that are accepted in the trade.
Finally, the best way to know when you can sell your coins is by asking gold buyers and gold dealers. If most of them offer interesting deals for your collection, then it is a good sign to sell your possession.
In doing this, always remember that you must consult numerous shops and not just one! Asking multiple groups can give you certain advantages. One of them is the sign that it is already a good time to sell you coins.
Also, you can almost compute how much you would earn out of selling your gold coins. Just by comparing their offers, you can already have an idea on how much you should expect.
Though it is true that you could earn money when you sell gold coins, this doesn’t mean you can just sell them too just about anyone. First, do some research and give credence to people’s comments.Yuan
The last purchases I did were indeed roosters and Helvetia and German mark. The spot price was pretty good. And also, I’m originally from Germany so I have a kind of connection to those coins. But you are absolutely right about selling and that is something I didn’t thought about. I have to go back to eagles and Buffalos. I live now Texas, and there is no state reporting required. Of course, every state has the federal reporting requirement for $10k transactions (CTR -which really is not a big deal, unless you are ever investigated, and cannot prove the source of the cash) – And also the required reporting of certain gold bullion products of 25 ounces, 1k ounces of some silver bullion, and $1k face in 90% coins. (All federal requirements)Dani
When selling long distance. I use walmart. Walmart to walmart is a cash deal. And ask the buyer if he wants shipping insurance add that cost. NEVER use PayPal. Scammers love it. they just say they never received it and PayPal returns the money without your knowledge or permission. I am, and would highly suggest, making instructions for selling your “collection” and keeping those instructions with your collection. You never know what can happen today or at any time in the future. Don’t burden your loved ones with not knowing the best way to handle what you are leaving behind.Eric
I like how you mentioned that selling your gold might be tricky. My uncle mentioned to me that he is planning to sell some of his gold jewelry for investment purposes and asked if I have any idea what is the best option to do. Thanks to this informative article and I’ll be sure to tell him that he can consult well-known gold buyers in town as they can answer all his inquiries and will surely provide a fair possible price.John Carston
I’ve got some old gold coins, and I’m not sure what to do with them. It makes sense that I would want to consider trading them! I can see how that could end up making me some extra cash.Braden Bills
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