How to Sell Gold Coins in New York

There are literally thousands of places to sell your gold coins in New York.The real challenge is not selling them, but getting the best possible price for them.

Things You'll Need

• Coin buyer's guide
• Phone
• Internet Connection

Instructions

How to Sell Gold Coins in New York

1. Determine if your coins are collectible coins or merely bullion coins. Coins minted prior to 1935 and intended for general circulation may very well be collectible and have a value to a collector in excess of their simple gold value. If your coins appear to be of the collectible type then check the Additional Resources link at the end of this article for information on finding out each coin's approximate value.

2. Depending on the quantity and the quality of the collectible coins you have, contact local coin dealers or auction houses and make the best deal possible based on a high percentage of the price which you have discovered your coins are worth.

3. Contact bullion dealers, coin shops and even banks to find the best price for your bullion-type coins. Bullion-type coins include American Gold Eagles, Canadian Maple Leafs and South African Kugerrands. Since the price of gold varies from day to day it is important for you to get a price quote as a percentage of the current spot price for gold so you can accurately compare prices between buyers.

4. Check Internet buyers. Enter the phrase "Selling gold coins in New York" into your favorite search engine and contact several Internet buyers and ask them what percentage of the spot price for gold they are paying for the particular coins you have for sale.

5. Compare all of the prices you have received, both locally and over the Internet. Sell your coins to the buyer who is willing to pay the highest percentage of the current price for spot gold.

Tips & Warnings

• Do not invite a private buyer to your home when selling gold coins. Always conduct business at a coin dealer's shop or at your bank.

• Never accept any form of check as payment for gold. Cashier's checks and certified checks are routinely forged and used to buy gold, which is untraceable. ONLY accept ALL CASH when selling gold coins here in New York.

Resources

• This is a good starting point to determine the value of your collectible gold coins