If you need cash for gold, one way to achieve this is by selling your gold coins. Whether you need to pay bills, save for a holiday or are not interested in your coin collection, it helps to know who to sell your gold coins to get fast money.
Always Know the Value of Your Gold Coin
When the time comes to sell your gold, a gold dealer is one of the best options for fast cash. Still, before heading out to a gold buyer, it helps to know what your gold is worth. At a minimum, a gold coin is worth the value of the gold it contains.
Still, it depends on the gold purity and the weight of your coin. Once you know what type of coin you have, you can quickly figure out the value and visit a gold buyer to have it appraised to help you further.
Is Gold Coins Easy to Sell?
Yes, gold coins have value whether it is collectable or not. When you sell your gold coins to a gold buyer, you sell them for the gold value inside the coin. But avoid selling your gold coins for cash to a pawn shop.
A fact is that pawnbrokers only pay you less than 50% of the resale value of your items when they buy them. So, if you need money fast, visit a gold buyer instead. The gold dealer will pay you 80% to 90% of the gold’s market value.
How to sell your gold coins for cash?
When you need cash for gold selling your coin collection is easy. First, you can start searching online for gold buyers near you to pay them a visit. At the same time, you can check the current gold selling price on their website.
Then, pay them a visit as they are always available to pay you cash for your gold. Gold dealers use two factors to estimate the price of your items to buy. First, they look at the purity of the gold and then weigh them.
So, the closer to 24 karats, the heavier the coin, the more it is worth to sell as scrap gold. The gold dealer will then compare it to the current gold market selling price of the day and provide you with a quote.
If you accept the quote, you can leave with cash in your hand or opt to have the money transferred to your bank.
Gold Hits a Record High
A fact is that the gold price is hovering at a seven-year high. Moreover, since February 23, 2022, the resale value of gold has hit a record high of $1898 per ounce and $61 per gram. This makes for an exceptional price and the right time to sell your gold. So, check your gold coin collection and head out to a gold dealer today to have it evaluated to get a fair market price today.