How to Sell Gold Coins in Kansas City
No matter what type of gold coins you have, it has never been easier to sell them in Kansas City than it is right now. Whether you are selling gold coins to a pawn shop, a coin dealer, a bullion exchange, at auction or selling them over the Internet, it's worth coming to Kansas City. However, before you set out to sell your coins, there are a few little tricks you should know if you want to get the best price possible for them.
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Instructions
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Start by determining whether your coins have any numismatic value over and above the value of their pure gold content. If your coins were minted prior to 1935 and if they were intended for general circulation then there is a very good chance that your coins have a premium value to collectors. Have your coins evaluated by a trusted coin dealer or auction house. You can check out the value of your collectible coins yourself at the Additional Resources link at the end of this article.
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Contact several local coin dealers, pawn shops and bullion companies and ask for their best price for your non-collector gold coins. Coins such as the American Eagle, the South African Krugerrand or the Canadian Maple Leaf should be easy to get prices on.
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Ask what the discount off of the current spot gold price is. It is necessary to know what each buyer's spot discount is in order to accurately compare how much each buyer is willing to pay for your coins. You see, the problem is, the price of gold can change from minute to minute. So in the time it takes you to call two different potential buyers of your coins, the price of gold could have changed making any prices you have been quoted difficult to compare.
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Check with online sellers. Enter the words "sell gold coins" into any search engine and you will be presented with dozens of potential buyers of your gold coins. Find the "Contact Us" tab and send an email to each site asking what their discount is off of the spot price for gold for the type of coins you are selling.
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Compare the quotes you have gotten and sell your coins to the buyer that has the smallest discount off of the current spot price of gold. In this way you can be certain that you are getting the best price possible on the day that your coins are sold.
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Tips & Warnings
Selling your coins to a private collector can be tempting and could result in a better price for your coins. However, never under any circumstances invite a private buyer to your home to make the transaction. Make your transaction at a local coin dealer's shop.
Always insist upon a cash payment when dealing with a private buyer. Checks, even cashier's checks and certified checks are no longer necessarily worth the paper they are printed on. It is way too easy to forge a certified or cashier's check using computers these days.
