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.
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.