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Gold Spot Price Explained

Silver Spot Price Explained

Platinum Spot Price Explained

Palladium Spot Price Explained

Exit Strategies for Precious Metal Investments

Investing in precious metals can be a great way to protect your money against economic uncertainties, helping it to grow for use in the future. A lot of time and effort can be put into considering what to buy, when to buy it and what the returns might be, but before you start, you also need to think about how you will finish.

When putting together any investment plan, you will also need to have an exit strategy so that you know what the end game will be in order to reach your goals.

Here, we will look at the importance of having a good exit strategy in place for your precious metal investments, as well as how to choose one, to make sure that you get the best outcomes for your money.

What is an exit strategy?

Your investment in precious metals will require you to think about what metals you want to put your money into and how much you want to spend, but you also need to consider what your goals are for the investment. You should consider whether you are doing this for short- or long-term gains, what you hope to achieve or what position you want to be in when you take your money back out.

Your exit strategy is your plan relating to when you want to liquidate your asset and how you want to do it, and this could depend on a few different criteria including your age, the value of your investments or having reached the point in life where you knew you would need it, such as retirement or your children going to college.

Having this plan in place at the start helps you to know where you are going and can then help to inform you of the decisions you make when starting your investment in the first place.

Selling your precious metals

When you do decide to sell your precious metals, it is important to do this carefully. You should make sure that this is always done through reputable dealers who understand what they are buying and will offer you a fair price and a transparent transaction. Make sure that you have done your own homework before you begin in order to understand whether you are being offered a good deal or not, and shop around for a few different quotes to compare prices.

You also need to take into account that there may be some additional costs involved in selling your precious metals, as there may be fees or transportation costs to take into consideration, so keep an eye on these to make sure that selling is still worth your while.

Your sale will go through much more quickly and easily if you have all your documentation in place. This should include purchase receipts, certificates of authenticity and quality guarantees as this will help to give credibility to your sale and avoid any hold ups.

What was the purpose of your investment?

When you chose to invest in precious metals, you probably had a reason for doing so. It might have been to fund your retirement, put the kids through college or to cut down on your working hours. This purpose will be one of the biggest factors in your exit strategy, as it will help you to determine when to sell. If you have reached the time in life when you knew that you would need your investment, then you now know that it is time to look around for the best price.

Alternatively, you might have wanted to simply make a comfortable lump sum to put towards your house or a round the world cruise, and have been waiting for prices to reach a certain level. Once this number has been reached, you know that the time is right to sell and enjoy your cash in the way that you had planned.

Do you have a timeframe?

When you put your money into a precious metals investment, it is important to know how long it will be until you get it back again. Think carefully about whether you are looking to make money overnight or in the next 20 years, as this will greatly affect how and where you invest it.

If you have paid a premium for a metal, can you realistically expect it to rise far beyond this in the short term? If you plan to hold on to your investment for a long term, are you prepared for the fact that it may not have reached the value that you hoped for when you get there?

Are you monitoring the market?

It can be easy to take your eye off the ball, particularly if you have invested over a longer period of time, but it is still important to monitor the conditions of the market to avoid any nasty surprises. If you can see changes in prices, you might decide to get out earlier than planned or hold on for a little longer, but without this knowledge, you cannot make informed decisions.

Do you have a contingency plan?

Any investment can go up and down in value, and even the very best plans don’t always work out the way that you expect them to and so having a contingency plan can be useful. If some of your criteria have not been met when you thought they would, will you continue with your exit strategy or do you have another plan?

Do you need the money whatever it is worth at this point? What percentage of your investment portfolio does this represent? All of these can help you to weigh up your options and decide whether there is another route that you can take.

It is always important to have an exit strategy for your investment, particularly as precious metal investments are made over a long term and are less about spot prices and sudden changes. Knowing where you want to end up can play a big part in how you start the journey.

When Should I Sell My Silver Coins?

For people looking to add some diversity to their investment portfolio, silver tends to be a popular choice, as it is something which retains its value well and can even outstrip gold in price on some occasions. However, the time will eventually come when you will sell your silver coins, but how do you know when this is?

In this article we will take a look at how you can spot the best time to part with your silver coins and detail all of the things that you need to keep in mind.

The value of silver

It stands to reason that in order to sell your silver coins, you need to know what their value is. You can check precious metal price charts to see what the current silver prices are whether they are on their way up or down. You should then compare this with the price of your silver when you bought it to see whether it can deliver you the profits that you are looking for.

Unlike other investments, silver tends to hold its value despite other difficulties in the economy, so its price is likely to remain fairly steady. As you have invested in coins, you may also find that demand for a particular coin rises due to world events or rarity, and this can impact on the value of the coins that you hold.

Silver is not only used for coins and jewellery, it is also a big component in manufacturing and features in a lot of cell phones, solar panels and electric cars due to its ability to conduct electricity. The fact that it is in demand across the world for a lot of different purposes means that it will continue to command a high value.

Evaluate the market

When you look to sell your silver coins, it is important to remember that they are only ever worth what someone is prepared to pay for them. It is for this reason that you need to research your potential market to see whether the coins that you are selling are in demand and who might want them. Look for buying trends in particular coin collections and types and keep an eye on the spot price of silver to understand who is buying silver coins and when they are doing it.

Review your investment

You might own you silver coin because you inherited them or they were gifted to you , but if you chose to invest in them then you should have an investment plan that you can refer back to. This can remind you of the price you paid and the value of silver at the time, and can act as a useful piece of information to help you decide whether it is worth selling your silver now. Your plan may also include an exit strategy and goals of what you were hoping to achieve from your investment.

Plenty of research

The key to selling your silver coins at the right time all hinges on you doing your research. You need to make sure that you fully understand the silver that you hold and the market you are selling to. Your coins may have historical or cultural significance that you should be aware of, and you should also look into the purity of the silver in your coins. When you are armed with this information, you are in a better place to understand what you can realistically expect to achieve.

You should also research how and where you are going to sell your silver. Physical shops such as jewellers and pawn brokers will often offer you much less than your coins ae worth either because they do not fully understand the value of the coins or because they have added costs that they need to cover. Look for a specialist coin buyer who has a good reputation and understands the precious metals and coin market to make sure that you will get a fair price for your silver.

When you shouldn’t sell your silver coins

Of course, there are good times to sell your silver coins, and there are other occasions when it is best not to. If the price of silver starts to dip, then you will not maximise what you could get out of the investment and could even end up losing money. You need to make sure that the price is right before you sell in order to make a profit.

You should also look at what your silver coins mean to you. If they are more than just an investment, such as something that has been in your family for a long time or something which has a historical significance for you, then it may not be something that you want to part with, no matter how high the prices are. If your coins mean more to you than money, then you may not want to sell, as you could end up regretting it afterwards.

Do you have a plan for the money that you will make from the coins? If it is something that you aim to put towards your retirement or a college fund then it makes sense to sell, but if you don’t actually know what you are going to do with the money then why are you doing it? Cashing in just to leave the money in a savings account that makes you very little isn’t always a sensible choice, so unless there is something you specifically want to do with the money, it might be worth leaving your coins where they are.

If you want to sell your silver coins then talk to Cash For Coins now. Our experts offer a personal service that can guide you through the process and make sure that you get a fair price for your coins without commission. We work for normal people like you, not big hedge funds, so we can share our expertise with you and make the whole process as quick and simple as possible.

 

Tips & Benefits of Selling Gold Coins

Gold coins are incredibly valuable assets, which can be worth a lot of money for a long time. If you have invested in gold coins, you are usually doing so with the intention of selling them later for a profit.

Alternatively, you might have inherited or been gifted coins with the intention of selling them on in order to secure the future of you and your family. This might sound simple, but it is important to know how and when to do this if you are going to maximize your returns.

In this article, we look at the benefits of selling your gold coins, as well as providing you with some essential tips on the best way to do this.

The price is high / current precious metal charts

If you want to make the most of the value of your gold coins, then you need to sell them when their value is at its highest. In the last few years gold prices have rocketed and are currently sitting pretty. This is because public confidence in the financial markets is low, and they are looking to invest in something more tangible than stocks, shares, and bonds.

That means that you are likely to get more for your money that you might normally have expected, and certainly more than you paid for the coins in the first place.

You can keep track of this in the precious metal price charts, which list the current price of metals such as silver, platinum, palladium, and gold. As these prices can change all of the time, you can look at the trajectory of the prices to see how far they have come and how much more they are worth now than the might have been just a few years ago.

Simple process

Selling your gold coins is a relatively simple process compared to many other investments, and so you can cash in at any time. As gold coins are essentially gold bullion, they should not be taken to the same places that you might try to sell a gold wedding band or watch, so make sure that you avoid jewellery stores and pawn shops.

This is because these types of buyers need to make a profit on the gold that they buy and tend to have a lot of other overheads that they need to cover. This means that any offer they are likely to make to you will be far below what your coin is worth. Instead, you should look to sell to a reputable and trusted vendor, as you are more likely to be offered a competitive price, just make sure that you shop around for the best one.

The cash is more practical

They say that cash is king, and at a time when many people are feeling the pinch, it might be a good time to cash in on your investment. With energy prices soaring and inflation forcing up the costs of many more items, you might find that you need the cash from your gold coins to cope with the practicalities of the cost of living at the moment.

Top tips to selling gold coins

Do your research

Before you sell your gold coins, you need to make sure that you do your homework. Gold coins can vary greatly due to the purity of the gold that is involved, the designs, their historical significance, and their country of origin.

It is therefore important that you understand exactly what your coin is.

Do some research into its age, the collection that it is from and the gold that is contained within it. If your coin came with any certification to prove what it is, then this can be a useful starting point.

Understand the value of your gold coins

The value of your gold coins can be affected by a number of different things. First of all, you should understand where the current price of gold is sitting. If you are armed with information about your coin, you can see what its rarity is and how much demand there is for what you have. You can look up what others are selling similar coins for online and this can help you to build a picture of the value of the coins that you hold.

Trust your buyer

You need to make sure that you are selling to a buyer that you can trust. When you do your homework about your coins, investigate your buyer as well. Read plenty of reviews and find out more about what they offer to ensure that you are dealing with someone who can give you a fair price for your gold. Don’t be afraid to ask questions of your buyer and ensure that they are a reputable dealer.

Many dealers may try to charge you commission on the sale of your coins, so make sure that you look out for this. Whilst you can factor this into the profits that you can expect to make, it may be better to look for a service which does not attempt to charge you any kind of commission.

How can Cash For Any Coins help?

At Cash for Any Coins, we offer a knowledgeable and trustworthy service for anyone looking to sell their gold coins. Many services are set up to deal with large corporations and governments, rather than everyday individuals.

We offer a service that anyone can access and are here to help, whether you have collected for fun, invested in the past or inherited your own gold coins.

We offer a transparent transaction with no commission and great levels of security all through a personal one-to-one service. Our vast levels of experience mean that we can make selling your gold coins a quick, easy, and stress-free process.

If you would like to find out more about selling your gold coins, then get in touch with one of our experts today and let us work hard to give you the very best deal.

Is Now a Good Time to Sell Your Platinum?

Often when we think about investing in precious metals, our thoughts might turn to gold or silver, but platinum also presents some fantastic investment opportunities. Gold has a very long history, so platinum is the relative newcomer to the precious metals market, having not even been discovered until the end of the 17th century.

Since the 1780s, platinum has been used in industrial applications, but as it has always been difficult to find, demand was often higher than its availability until large quantities were discovered in Russia, making it something that was finally investable.

As with any type of investment, timing is always key when it comes to selling, as prices of platinum have been known to fluctuate greatly. In this article, we take a look at where platinum stands in the market at the moment to help you decide whether now is the best time for you to sell yours.

Historical Platinum Prices and Market Trends

During the 21st century, the popularity of platinum began to soar thanks to its incredible strength, but with the global supply of the metal being less than the total supply of gold, it was still a very rare commodity.

When this is coupled with the fact that extraction only really comes from Russia and South Africa and refinement can take a long time, it is easy to see why the platinum market tends to be much smaller. High demand and low availability soon pushed prices up, and it even became more valuable than gold.

In 2008, investors could expect to receive $2000 per troy ounce – double the price of gold. This is because the supply and mining operations of platinum were threatened at this time, and they were a crucial element in the production of things such as car exhaust systems.

However, in 2022 it sat at half the value of its gold counterpart, thanks to the fact that palladium has been found to be a more efficient alternative, and demand for that has grown instead.

Current Platinum Market Conditions

It is important to remember that it is not all doom and gloom for the sales of platinum, as prices have been on the rise again. Demand for the metal is once again increasing. Palladium might have been found to be a more efficient metal in the process of vehicle production, but it is also 15 times rarer than platinum, meaning that platinum is very much still in need.

Platinum plays a large part in the production of low emissions vehicles, and as the trend towards their manufacture increases, it is likely that the value of platinum will go hand in hand with this.

It is also a premium product when it comes to jewellery production, and its popularity in this market has started to soar in recent years. When it comes to investing, the demand for platinum bars and coins seems to be high.

The majority of platinum comes from South Africa, and the markets do not tend to like the fact that all of the platinum eggs seem to be in one basket. One strike from the miners, a power failure, political coup of natural disaster could bring everything to a juddering halt, making it a very vulnerable market.

There is currently a surplus of the metal in the market, which has contributed to its price being lower than most of the other precious metals that could be invested in. You might think that this is bad news, but it is forecast that platinum might now be moving into a deficit, and when rising demand meets rarer availability, prices can soon begin to rise.

What to Consider When Selling Your Platinum

When you do decide to sell you platinum, timing is everything. As with any investment, prices will rise and fall, so it is important to try and sell when the market is heading in the right direction.

The price you sell your platinum for will always depend on your own financial situation, so keep in mind how much you purchased it for, and what you need to achieve to determine whether now is the time to sell or whether you should hang on to it for a little longer.

You also need to find the best method of selling your platinum, as this can determine how much you make. Dealers and auctions have traditionally been the most popular way to go, but they tend to have high fees attached to them and can be difficult to use. Online dealers now present one of the easier and more effective ways to sell, and they can be much easier to compare to make sure you are getting the best deal.

When selling any precious metal, there will be taxes and fees associated with it, so it is important that you have a good understanding of these in order to know how much will realistically finish up in your pocket when you come to sell your platinum. You should also get your platinum professionally appraised, so that you know exactly what you are selling and can get the best price for it.

Tips for Selling Platinum at the Right Time

To sell your platinum at the right time, keep a close eye on market trends and the news. This can help you predict what it likely to happen to prices and allows you to move quickly while prices are at their highest.

Make sure that you know what value you want to achieve and be realistic with it – consulting with experts and financial advisors can help you to do this. You should also make sure that platinum is not your only investment so that your risk of market changes is reduced.

Is Now a Good Time to Sell Your Platinum?

Whilst platinum has not recouped its all-time highs, it looks set for a resurgence. Watching factors such as the green vehicle emissions developments will help you to see what is likely to happen to platinum, but you should also couple this with other factors in the world and your own personal situation to pick the best moment to sell.