How to Sell Gold Coins
Gold, a perennial currency has what many fiat currencies lack - intrinsic value. While the price of gold may rise of fall in a given fiat currency, many experts have shown that gold has a set value whereas fiat currencies like the dollar are prone to inflation. This means that in the long run, the gold price denominated in dollars, yen, or pesos will go up making an investment in gold a great hedge against inflation. After investing in gold by buying gold coins, the next step is to know ho to make a profit by selling them. This article will tell you how to sell gold coins.
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Instructions
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How to Sell Gold Coins
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Find a gold dealer in your area with the local yellow pages or online with your favorite search engine.
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Check the spot price of gold with most trusted financial resource. The spot price is usually quoted per ounce or per 100 grams.
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If you are trying to sell bullion coins (almost 100% gold), simply multiply the spot price by the weight of your coins to find their value. Other gold coins may have varying value based on their gold content and collector interest. If unsure of your coin's gold content or value, research online or in a coin catalog like The Standard Catalog of World Coins.
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Sell your gold coins at the local dealer of your choice or online on ebay or a reputable gold dealer site. Make sure you have the cash in your hand or your bank account before shipping your gold coins.
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Tips & Warnings
Most gold investors only part with their physical gold out of necessity. If you are trying to simply win profits from short term gold investment plays, an easier way to do it would be to invest in gold mining stocks or a gold ETF (Exchange Traded Fund) like GLD.
