You may have been collecting gold coins for years, and have decided to stop due to budget constraints or lack of interest. Or, you might have collected them as a child, and retained your collection throughout your adult years. You might have inherited your collection. Whatever the case, you can sell your coins to an online gold buyer, and raise funds that can be used for more important things in your life.

Many people who own coin collections are unaware they can sell them for cash by working with an online buyer. Some of these collectors, desperate for money during tough economic times, sell them to pawn shops for a fraction of their value. This is unnecessary. An experienced, dependable online buyer will pay much more for your collection. They’ll also make sure you have a check in hand within a few days of accepting their offer.

Below, we’ll explain the criteria that are used to determine the value of your coins, and how to have them appraised. You’ll also learn what to do when your collection is worth a substantial amount of money. Lastly, we’ll describe how to get the best price online if you need to sell your coins quickly.

What Determines The Value Of Your Gold Coins?

The rarer a piece is, the more it is worth. Oddly, most of the coins found in modern collections include American Gold Eagles, South African Gold Krugerrands, and Canadian Gold Maple Leafs. These are called bullion coins. They are common, and thus worth less than truly scarce coins.

Another factor that influences value is the condition of the piece. This is unsurprising. The better preserved a coin is, the higher its price on the open market.

Aesthetic beauty is also important. Two coins of the same design and condition may differ in the quality of the execution with which they were minted. Collectors are usually willing to pay a premium for such quality.

The popularity of your pieces also plays a key role in their values. Essentially, there is a higher demand for some coins than others. For example, an Austrian Philharmonic commands a higher price because it is more popular than many coins that are rarer.

Having Your Coin Collection Appraised

If you’re an experienced collector, you may be able to appraise your gold coins without the help of a dealer. Doing so is difficult, however, since small errors can produce large inaccuracies in value. There are several resources you can use for guidance, including the “Black Book” and “Greysheet.” Most professional appraisers use the Sheldon Grading Scale. Thus, if you truly want to appraise your coins yourself, you should become familiar with its system.

Most collectors – even those who understand the basics of coin appraisal – will take their collections to an experienced dealer. It’s simpler, and the dealer is less likely to make mistakes.

How To Sell Your Gold Coins

Your strategy for selling your gold coins will depend largely on their value and your need for funds. If your pieces have substantial value, and you have no immediate need for cash, you may want to sell them to a private collector. Realize that such collectors rarely buy entire collections. Instead, they pick the pieces they want, and leave the rest. For this reason, selling your collection this way can take several months.

If your gold coins are worth a relatively small amount, or you are in dire need of extra funds, consider selling them online to a gold refiner. Refiners will offer a price based on the gold content in your pieces, as opposed to their collectible value. Moreover, they will usually extend a higher offer than most gold buyers because there are no middlemen involved in the transaction.

If you have Krugerrands, American Gold Eagles, or other gold coins collecting dust in your attic or garage, think about selling them online. It’s a quick, easy, and efficient way to turn your forgotten gold coin collection into cash.

Author Bio: Find out more information online from Refinity.com or the Sell Gold Online News.

Category: Finances
Keywords: selling gold, sell gold, selling scrap gold vs keeping it, hoarding gold