Selling your gold coin collection is one of the best ways to clear up clutter around the house while cashing in big on your valuables.
However, the process of selling gold is sometimes complex and has a few pitfalls you should always try to avoid. Once you understand this, you can start to earn cash for your gold that will help loosen up your budget.
Here are four things everyone needs to know before they sell gold coins for cash:
1. Don’t sell gold coins for melt-down purposes: You shouldn’t do the same things when you sell gold coins as you do when you sell gold jewelry. Whereas you can sell your gold jewelry as scrap gold for melt-down purposes, you should never do this with gold coins — because older gold coins are worth much more to antique dealers than to other places that buy gold.
2. Always get more than one appraisal: Your gold coin collection has a value — and different “we buy gold” stores will give you different appraisals for its value. To get the best payout when you sell gold coins, make sure to bring your coins to more than one gold buyer. This gives you the option to choose the best offer and get the most money.
3. The price of gold is always changing: Staying up to date on the market value of gold is an integral aspect of selling gold for cash. Because the price of gold is always fluctuating, you should make sure you sell your gold at the right time, when gold is rising in price.
4. Don’t sell your gold online: There have been countless of examples of people who have tried to sell gold coins to online gold buyers, only to never see a check or their gold collection ever again. To avoid the risk of selling gold online, simply make sure you take your gold to buyers that have physical storefront locations. More like this.
