Before trying to sell your gold bullion coin, you must know at least approximate value. If you are experienced enough, you can estimate the value yourself, however for beginner coin collectors, or someone who got the coin through inheritance or as a gift, the best option is to have the coin apprised.
Typically, there are fees attached to the appraisal, but knowing the value of your coin will enable you to negotiate a better price. Imagine selling the coin only to later realize you could have gotten much more, if you only knew what it was worth.
Once you know the value, it …show more content…
You will be able to find buyers and compare offers pretty much in real-time, giving you not only an advantage in price negotiations, but also enable you to sell the coin right away.
3. Coin clubs.
Coin clubs membership is a mix of enthusiasts and professional coin collectors, and you will find there both beginners and very experienced collectors. This presents both advantages and disadvantages.
The advantage is, that you will have a very easy time to find an interested buyer. The disadvantage is, that you may find across an inexperienced buyer, who does not really know the value of the coin, or anything about actually buying gold bullion coins. In other words, you may find yourself tied up in a never-ending circle of questions and delays, all the while you could be spending your time to negotiate with a truly interested and qualified buyer.
4. Antique shops.
Antique shops typically buy only coins with historical value and do not buy newer coins. You can always try to sell your coins there, but chances are you are not going to get a good deal, unless you are offering coins with historical …show more content…
Unlike antique stores, pawn shops are very likely to buy gold bullion coins. The chances are, that the owner or an employee will also know enough about coins and coin collecting to be able to make you an offer. However, it is unlikely that the offer will be too good for you. Just like with coin dealers, pawn shops only buy what they can resell for profit.
6. Online auctions.
Online auctions are probably the easiest way to sell gold bullion coins. However, you are presented with a couple of challenges too.You absolutely need to know the value of your coin, and you need to set a minimum price you are willing to accept. Otherwise, if there are not enough interested buyers, you may easily end up selling your precious coin for pennies.
On the other hand, if you set your minimum price to high, it may discourage buyers from bidding. You definitely need to plan your auction carefully. Timing, duration, minimum price, your current feedback, used images - all of it are crucial elements that can make or break the sale.
Placing a short classified in your local newspaper can be quite effective. You will be able to quickly spot potential buyers and compare their offers as well. The disadvantage is, that you may have a lot of tire kickers calling you, and your reach with local classifieds is fairly limited. And of course, you need to pay the fees for having your ad