How To Sell Your Gold Coins For As Much As Possible

21 May 2017
 Categories: Finance & Money, Blog

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If you are planning on selling gold, it is best to begin the process as early as possible if you want to make the maximum profit. There are many ways in which you can sell gold fast, but you will usually make less money as a result. Coin shops, for example, will need to buy wholesale and will then need to sell at a retail price in order to generate a profit. However, there are many coin shops and pawn shops that are willing to haggle, so you might be able to get a better deal, especially if the owner believes that he or she can easily move your gold.

Sell To A Private Buyer

If you would like to earn the most money possible for your gold, it is better to sell your gold yourself to a private buyer. Then, you can keep the markup that a gold coin shop would be forced to include for yourself instead. Then, the only cost of selling your gold will include shipping and the cost of marketing it.

Sell In Bulk

Given that shipping costs will likely be your biggest expense when selling gold, you may want to offer a discount for those who buy gold in bulk. This is because shipping one or two coins individually can be very expensive.

Know The Value Of Your Coins

In order to avoid wasting your time or the time of the buyer, and to generate the highest profit, it is important to find out how much your gold coins are worth. Fortunately, there are several standard coin pricing guides that you can purchase that will allow you to determine how much your coins are worth. However, coins that are in poor condition will not be worth as much. Make sure to separate the better coins from the worse ones. Also, give your coins a good scrubbing.

Sell Online

The cheapest way to sell your gold coins is to simply sell them to those whom you know or to put up a sign advertising the coins in your local area. However, your venture will be less discrete and you may attract unwanted attention. Therefore, it makes more sense to attempt to sell your gold online. Depending on the service you use, there may be a small fee, and you may have to market your gold, but if you have time to wait, this is the most profitable option in the long run.