How to Sell Certified Gold Coins
When you have gold coins to sell, it may be in the form of collectible coins or bullion (investment) coins. In either case you want to get the coins certified before you sell. The reason is simple. Certified gold coins have been verified to be genuine and their condition established. Buyers pay more for certified coins. Since even a small amount of gold is very valuable, it will almost certainly be worth your while to have gold certified before you sell it.
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Instructions
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Understand what certified gold coins are. Collectible coins that are certified have been examined and tested by a recognized company like Professional Coin Grading services (PCGS) or the Numismatics Guaranty Corporation (NGC). When buyers see the certification, they know the coin is genuine and that its stated condition is accurate. Condition, which is rated from 1 (very poor) to Proof 70 (perfect), is important. A coin in excellent condition may be worth several times as much as one that is badly worn. Not surprisingly, certified coins fetch higher prices.
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Know how to tell if bullion coins are certified. Normally, gold bullion is certified to begin with. For example, if you’ve bought American Eagle investment coins from an authorized dealer for the US Mint, the coins are certified. In the event certification is lost, a bullion coin may need to be re-certified but in the normal course of events, this is not necessary.
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Have your gold coins inspected and certified by a recognized service. If you have gold coins to sell that are not certified you can still put them on the market, but you will not receive a good price. It is relatively easy to have coins certified, however. All you need to do is submit the coins to a certifying firm and they will do the rest. There is a link to the PCGS web page that explains how to arrange to have gold coins certified at the end of this article.
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Locate a buyer. This is also a fairly simple step. In most cities, numismatic (coin) dealers can be found simply by looking in the phone book. If you prefer, you can use the US Mint’s dealer locator to find dealers in your area (see link below).
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Make sure you are up-to-date on prices. The PCGS and similar websites maintain current price listings. If you are selling bullion coins you only need the daily price for gold on world markets (see link below).
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Sell your certified gold coins. Check with several dealers since prices will vary somewhat and pick the highest bidder. By taking the time to have your gold certified you can be sure you are getting a good price. Keep complete records of the transaction—you’ll need them at tax time. And don’t forget the receipt for having your gold certified. Normally this is tax deductible.
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