Not all Gold Buyers are the same

With the gold values having increased over the last few years, it has brought many people to the conclusion that taking the gold coins and even jewelry which they own and selling them instead of holding on to them. Prices may be a strong decision factor in this, but when you combine the bad economic conditions around the world with this rise in gold coin values you can see how this is actually a combination of events which provides those selling the gold pieces with a potentially significant influx of cash when they most need it. However coins are not necessarily the only things which people have which is made of gold, and the other items such as jewelry for instance are also being traded in for the cash. This can be a difficult step to take when there is some form of sentimentality associated with the gold pieces which are being sold to buyers, yet there is no shortage of buyers willing to pay top dollar for anything made of gold.

You can find these buyers in small shops in most towns, often multiple shops in larger areas, and they tend to be very competitive amongst each other as well. After all, they all want your business. Still, it may be advantageous to shop around if you can because some buyers will offer more fair prices for gold than the others will. Not all companies are going to play fairly though and they may be offering far below what the next buyer will be willing to offer you. The reputation of any well established buyer should be researched ahead of time in order to help you as the seller determine whether they are going to be trustworthy during the transaction which will include weighing the gold as well as assessing its value and making a cash price offer for it.

This can become a bit more involved though when dealing with gold coins because aside from the value in the actual weight of the gold there can be a potentially substantial numismatic value associated with it too. If you are dealing primarily with coins then the extra time that you put into checking around with coin shops and professionals may indeed be worth it.

Tips Before You Sell

  • Check the reputation of the buyer
  • Know the value of gold at the time you sell
  • Compare offers from multiple buyers
  • Research and numismatic values of the gold coins

The same approaches to researching the reputation of any long standing coin shop or dealer is still imperative to helping you avoid getting ripped off in any way. There are numerous gold coin examples which can have values far exceeding not only their face value but their gold market price as well. Unless they are in extremely poor condition or merely bullion then this extra effort is highly recommended because those buyers who are not familiar with the numismatic side of this could under pay you for the coins even when their intentions are completely honorable.