Selling Coins to Gold Coin Dealers

Selling gold such as gold coins is very easy and actually very convenient and the seller can get a fair deal for their valuables as long as they do their research and know what their property is worth before they enter into a transaction with gold coin dealers.

Gold coin dealers are the biggest buyers of high quality gold coins from private sellers and from the public. The goal of gold coin dealers is to pay as little as possible for a gold coin and to sell it for as much as possible. They are, after all in business to make a profit. This means they will offer a seller as little as possible when buying a gold coin. If selling gold coins, it is important to know what the coins are worth before beginning negotiations with a gold coin dealer. A seller can check the current coin price lists for the latest prices for certain coins.

Knowing the value of the gold coins that are being sold provides the seller a base price to start negotiations with and the seller will be able to tell if the gold coin dealer is offering a fair value for the gold coins. If the seller is not satisfied with the gold dealer’s offer for the gold coins being sold, the seller can counteroffer or not sell the coins to this gold dealer. This is another reason it is good for the seller of the gold coins to know the value of their gold coins before beginning negotiations with any gold coin dealer.

It is possible to sell gold coins to a gold coin dealer over the internet, but the seller must ensure they are working with a legitimate gold coin dealer before entering into a deal to sell gold coins over the internet. Confirm a gold coin dealer’s reputation and document and insure all transactions. Do not send any gold coins until payment has been received and when sending the coins, insure the package and send it certified mail and return receipt. If buying a gold coin with numismatic value, get a second opinion before paying a premium for the coin.

Ask to see credentials. Gold coin dealers will be licensed to buy and sell gold coins by the state they are working in. Ask to see these credentials. If they are legitimate, gold coin dealers will have no problem producing these credentials. Additionally, they will be required by state law to ask the buyer to produce a driver’s license, passport, or some type of photo identification. This is a federal law to prevent the sale of stolen property and money laundering.

If the gold coin dealer does not ask for a photo ID, it would be smart to seek out another dealer.  Selling gold coins can be a good deal for both the seller and the gold coin dealer as long as the seller knows what to expect and the gold coin dealer gives the seller a fair value for their property.

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