How to sell your gold coins

July 15, 2019 by Buy-Gold.Link in Precious Metal Investing

Even though the gold price went up a bit in recent times, it is definitely not the time yet to sell your gold coins. However, that time may come at some point so investors should have an idea and perhaps even a plan how to eventually sell their gold that they acquired over the years.

The best option to sell gold coins is probably to sell them to the same dealer that you originally bought them from. Most gold dealers buy back the products that they sell and you can usually find a page on their website that states their policy in this regard. As an example, check out this page of the dealer Money Metals Exchange that lists all the information you’ll need to sell your gold coins and other precious metal products to them.

You could possibly sell your gold coins back to the dealer you bought them from

You could possibly sell your gold coins back to the dealer you bought them from

The second way to sell your gold coins is to walk into a physical store that sells them. Gold shops/stores have become quite rare these days in the Western world apart from certain areas. That is not the case in places like Dubai or Hong Kong where such stores are still quite common. Not every gold store will be interested to buy your gold coins however since it takes quite a bit of expertise and equipment to distinguish genuine gold coins from counterfeit gold coins. Stores that only sell gold jewelry but no gold bullion products may also be reluctant to buy your gold coins, especially if you’re an unknown customer to them. In any case, it never hurts to ask and you should always get at least the spot price for any gold coins that you sell to them.

Now, if you have proof coins or other collectible gold coins to sell, your best bet might be to sell them on eBay. On this platform, you might be lucky to find a buyer that is willing to pay the substantial premiums above the spot price that such coins are worth for collectors. However, if you have a large number of gold coins to sell, selling them individually on eBay would be a time-consuming hassle of course.

Therefore, investors that are looking for a hassle-free way to profit from the gold price hikes that many experts have been predicting for some time already, buying gold through an app like Glint could be an alternative. If you bought all your gold through Glint, you could then sell it at any time at the touch of a button on your smartphone, ideally at the time when the gold price has reached its peak!

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