Wednesday, May 22, 2024

How To Sell Gold And Silver Coins

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What Do The Dealers Peers Say

How to Sell Silver & Gold to a Local Coin Shop

An excellent way to determine whether your prospective buyer is reputable is to assess their reputation among other dealers. Coin dealers often get a bad reputation among their peers if they engage in unethical and dishonest practices. You might also want to ask other coin collectors about their experience with a particular dealer to learn more about their reputation.

Consider The Payment Method

Perhaps the most critical question you should ask yourself when thinking of how to sell silver or gold is how youll receive your payment.

Are you looking to liquidate in a hurry and get an instant payment, or can you wait a little while longer to realize a higher premium on your coins or bars?

Your urgency to sell will eventually determine which type of buyer youll pick. For instance, pawnshops may pay you immediately, but youll get a worse price for your items than if you chose to use an auction, which could take time to give you your money.

How Much Is 24k Gold Worth

24k gold is the purest form of gold that youll find. As such, youll get more money for 24k gold than for any other kind, such as 18k or 14k.;

In order to determine how much your 24k gold is worth, all you need to do it:

  • Look up the current spot price of gold in grams
  • Weigh your 24k gold
  • Multiply the weight of your 24k gold by the current spot price of gold

Also Check: How Much Is The Price Of Gold Per Gram

Sell Gold And Silver For Cash

If you’re searching for where to sell gold and silver, you can end your searches for a reputable dealer. With some of the best ratings and reputation in the industry, look no further than Bullion Exchanges. We buy a variety of products including precious metals such as gold, silver, platinum, palladium, rhodium, and even other items like diamonds and scrap metal! Our team is ready to assist you with selling your precious metals to Bullion Exchanges, your trusted NYC precious metals dealer.

How To Sell Gold And Silver A 4 Step Guide

How To Sell Coins Online: A Few Essentials

Wondering how to sell gold or silver should you need to liquidate your reserves in the future?

Perhaps youve recently received some gold from an inheritance and dont know what to do with it, or youre a precious metals investor looking to offload some of your collection.

Whatever the reason, youll want to consider several important factors to ensure you get a sizeable return on your investment. Undeniably, youll want to get the best price for your gold and ensure that you dont sell off too much of your collection at once, leaving you at a price disadvantage.

Whatever the reason for selling your precious metals, this guide will help you make sure your transaction is worth it and goes as smoothly as possible. It explores the most important factors to consider before selling your gold or silver, including:

  • who to sell to
  • Final Thoughts
  • Read Also: What Is Vermeil Gold Plated

    Where To Find Scrap Gold Around The House

    Scrap gold that you may have on hand to sell includes:

    • Dental fillings, bridges and gold crowns
    • Broken jewelry
    • Antique china you can chip off gold trim on these dishes
    • Gold plated silverware
    • Gold is found in the processors and connectors in computers, circuit boards, tablets, and smartphones use gold ;though extracting this gold is complicated
    • Gold heat shields, gold reflectors, gold mirrors, gold optics
    • Gold solder

    What Silver Coins Are Worth Money

    Any silver coin minted before 1965 contains a significant amount of silver and hold an intrinsic value due to that silver content.

    The following coins contain a large amount of silver by content:

    • Morgan Dollars
    • Flowing Hair Silver Dollars
    • Draped Bust Silver Dollars
    • Gobrecht Silver Dollars
    • Seated Liberty Silver Dollars
    • Silver Trade Dollars
    • Barber/Liberty Head Half Dollars
    • Walking Liberty Half Dollars
    • Franklin Half Dollars
    • 1964 Kennedy Half Dollars
    • 1965-1970 Kennedy Half Dollars
    • Liberty Head/Barber Quarters
    • Standing Liberty Quarters
    • 1932, 1934-1964 Washington Quarters
    • Liberty Head/Barber Dimes
    • Winged Liberty Head/Mercury Dimes
    • 1946-1964 Roosevelt Dimes

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    Can I Buy & Sell Gold Without Paying Taxes

    The GoldSilver Team;

    If you feel a little daunted by the way gold is taxed, dont fret. Youre not alone. Gold is a unique investment. Like any investment, its subject to some pretty complex tax rules. Add in the many ways you can own it and the complexity goes up. In this post, well try to answer some of the common questions around taxes on gold & silver investments including:

    • Can you buy & sell gold without paying taxes?
    • How much gold can you buy without reporting it to the IRS?
    • What are the IRS requirements for investing in gold & silver?
    • Do you have to pay capital gains taxes on gold & silver investments?
    • Does GoldSilver report my investments to the IRS?
    • Do you have to pay taxes if you sell your gold jewelry?
    Quick pre-emptive strike from the lawyers: Were not providing tax advice here, just certain general information. We aim to be accurate, but cannot guarantee that all information here is accurate or current or covers every individual case, and we do not assume any obligation to update any of the information contained here. Always consult a CPA and/or an attorney on tax issues.

    Heres why its important to check with your certified public accountant about taxes on your gold investments…

    ;Rules can and do change. Getting it wrong can be very costly .

    ;Your tax bracket and other personal considerations may make a difference.

    ;State capital gains tax rates vary.

    ;Those outside the US must adhere to their own countrys tax laws.

    Find Out How Much You Have To Sell

    Buy and Sell Gold and Silver – How It Works and Expert Tips

    How much your metal is worth depends on the amount of it, as well as current market prices.

    Precious metals are typically sold . If you are selling gold jewelry or a gold coin, instead, the metal is unlikely to be pure. Multiply the percentage of purity by the total weight to find the total amount of gold or other metals that you have.

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    European And World Coins

    Historically, European gold and silver coins were in circulation from around 1880 until 1930.

    Gold coins like the British Gold sovereign and others from France, Austria, Italy, and Switzerland are still traded today. Likewise, historical silver coins like the Netherlands Silver 1 Gulden and Denmarks Silver 10 Kroner are still valuable.

    Popular modern European and World gold and silver coins that are readily accepted by dealers in the U.S. include:

    • Australian Gold Kangaroo
    • Austrian Silver Philharmonic respectively

    Grading And Authenticating Coins

    Grading and authenticating coins is done to increase the buyer’s and seller’s comfort levels when dealing with high value and rare coins in the market. These third-party grading companies provide a service for a fee, but are impartial and independent from the buyer and seller within a transaction. At Sell Your Gold we take all graded coins! Call us today at to discuss the details of the coins you are selling.

    ANACS: The First Coin Grading Service

    Grading services started back in the 1970’s with the ANACS . The goal was to uphold and protect the integrity of the coin industry. The ANACS grader would examine a coin, determine its authenticity and give it a grade for each side of the coin. The coin would then be returned to the sender with a certificate and picture

    PCGS and NGC: Todayâs Leading Experts

    In 1986, the Professional Coin Grading Service , which also grades coins for a fee, started encapsulating the coins in plastic holders with its graded certificate. This is to ensure the graded certificate and the coin are never separated. A year later the NGC also started a similar service. These are now the top leading coin grading firms in the U.S.

    Subjectivity: The Human Element

    Gradefiation: Rising Standards

    Over the years grading has also become stricter. Collectors have nicknamed this “gradeflation”. Over time, the standards for a specific grade have risen and coin that was graded in the early 90’s may now have a lower grade if it were graded today

    Read Also: How Much Is 18 Karat Gold Per Ounce

    How To Sell Your Gold Or Silver Online: Step By Step

    When selling precious metals, reputable dealers are increasingly moving to the internet. This is good news for sellers: buyers on the web need to compete with businesses that buy items nationwide.

    Go over your items details. For example, if youre selling silver bullion, determine its weight. If you have gold coins, note their date, condition, and characteristics.

    Making an inventory like this will help you approach buyers more confidently, as youll know exactly what you have to sell.

    As you do this, keep in mind the most common categories and methods used to sell different types of metals. Heres how to get the best price for your items!

    Determining The Value Of Your Coin Collection

    Learn How to Sell Gold and Silver Coins easily?

    Now that you have identified and graded the coins in your coin collection, you can now determine the approximate value. There are many factors that go into determining the value of a coin, but the bottom line is that a coin is only worth what someone will pay you for it. However, we can come up with a ballpark estimate of the value of your coins.

    Using a handbook like A Guide Book of United States Coins is a great start to determining a coin’s value. But keep in mind, this book lists approximate retail prices that you could expect to purchase a coin from a coin dealer. Like any retailer, a coin dealer makes his profit by buying coins below the retail price and selling them to coin collectors at a reasonable profit. Therefore, the prices that you see in this book will be 30% to 50% greater than what a coin dealer will pay you when you sell your collection.

    Also Check: How Much Is 10 Ounces Of Gold Worth

    How Much Is 18k White Gold Worth

    18k white gold contains 75% gold.

    To find out how much your 18k white gold is worth, all you have to do is:

    • Look up the current spot price of gold.
    • Weight your 18k white gold and multiply that number by 0.75 to determine how much pure gold is in the item.
    • Multiply the number above with the current spot price of gold to determine how much it is worth.

    Why Gold Is Valuable

    Gold is a fascinating commodity one of the oldest forms of investment, wealth, as well as deeply sentimental when in the form of jewelry and other art. Plus, unlike stocks and bonds, gold is beautiful, and unlike real estate, highly transportable.

    Because pure gold is a chemical element, it is finite it is impossible to manufacture new gold . The limited, finite nature of gold is what gives gold value.

    Gold recycling is also one of the most environmentally sound processes reusing a natural resource again and again causing minimal environmental impact each time, and using tiny sums of energy.

    Gold is believed to have been first used in 40,000 B.C. in what is now Spain, with evidence of smelting dating to the fourth millennium in Mesopotamia. Gold is mentioned frequently in the;Old Testament, starting with;the story of the;golden calf, and the;New Testament mentions gold as one of the gifts of the;magi;in the first chapters of Matthew.;

    Despite its ancient roots, and millennia of use, gold remains mysterious. However, there are some basic facts you should understand before selling your gold:

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    Bottom Line: Sell Your Gold To A Legit Online Gold Buyer Now

    Online gold buyers; are in a strong position to offer high prices, since they dont have the expensive overhead of a retail store, and the competitive nature of the Internet means they are motivated to lower their fees.

    Plus, you enjoy the convenience and safety of not leaving your home, and in the case of our recommended gold buyer a 100% guaranteed highest price for selling gold jewelry, gold watches, scrap and gold coins. Get started with CashforGoldUSA now >>

    Need cash? Learn about our $500 single-mom monthly grant.

    *10% bonus offer. Customers who send in their item within 7 days of receiving the shipping materials will automatically receive an additional 10 percent bonus on top of the appraisal value of their items, compared to standard pricing. Total payout may not exceed melt value of items. The 10% bonus offer is not valid or able to be combined with any other special offers.

    How much do you get for selling gold?

    Where you sell your gold, what type of gold coins, jewelry, bullion, scrap and whether you sell online or at a location near you all affect how much money you can get for your gold.

    What is the best way to sell gold?

    While there are certainly reputable local jewelers who can give you an honest gold resale price for your jewelry, coins, bullion or other items, selling your gold online with a reputable business is advantageous.

    Is it safe to sell gold online?

    Reputable gold buyers guarantee safety by insuring your shipments.

    How can I sell my gold online?

    Understand The Value Of Your Coin

    How to Sell Gold, Silver, Eagles, Maples, and Collector Coins.

    You shouldnt put your coins up for sale until you know what they are worth. Since various factors can affect the value of gold coins, its essential to consider the following: weight, condition, age, and size. For example, you could have a rare coin with a high value that an inexperienced collector wouldnt recognize.

    You should have your coins appraised before putting them up for sale; knowing the estimated value will help you avoid getting ripped off.

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    What Is Gold Plated

    Gold plating involves affixing a thin layer of gold onto the surface of another metal copper or silver, by a chemical or electrochemical plating process.

    What’s the difference between gold, gold filled, and gold plated?

    Unlike plated , gold-filled items are legally required to contain 5% gold by weight.;Gold items are the same gold alloy all the way through.

    How Much Is Rose Gold Worth

    As with regular gold, how much your rose gold is worth will depend on its karat.

    18k rose gold contains 75% gold. To determine how much your 18k rose gold is worth, just find its weight in grams and multiply that by 0.75. Then, multiply that number by the current spot price of gold.

    14k rose gold contains 58.3% gold. To figure out how much your 14k rose gold is worth, find its weight in grams and multiply that weight by 0.583. Then multiply that number by the current spot price of gold.;

    Also Check: How Much Is 12 Grams Of Gold Worth

    How To Sell Silver Coins For Cash In 2021

    Some links below are from our sponsors. Here’s how we make money.

    Did you inherit your grandfather’s buffalo nickel? What about a silver dollar collection? Rare quarters or Canadian silver dollar or French frac?

    The value of these collectible silver coins varies by age, condition and rarity as well as the going price for silver at any time.

    This post will help you find the value of your silver coin, and the best way to sell it for the highest price.

    Only Work With A Reputable Dealer

    Sell Silver Coins with NYCBullion

    Many individuals and companies advertise that they will give you an incredible price for your coins. Its crucial to make sure youre dealing with a reputable buyer who strictly follows the industrys guidelines.

    Many inexperienced investors make the mistake of taking their coins to dishonest dealers, such as pawn shops. Working with an established precious metals dealer is the safest way to ensure you get the best price for your coins.

    Also Check: Can You Buy Gold On Etrade

    Where To Sell Your Silver

    Once you have some gold and silver to sell, you need to decide where to bring it. Generally speaking, most people go to a pawn shop or bullion dealer. Reputable precious metals dealers are often few and far between in person, but many are moving their business online, opening up new possibilities . Weve looked at these two common sale locations to help you understand what youre getting yourself into.

    Types Of Coins We Buy

    As a customer of Sell Your Gold you can sell coins online using our secure and insured FedEx shipping. We accept all precious metal coins including but not limited to bullion, numismatic and commemorative coins.

    A bullion coin is a coin purchased for investment, not circulation. Bullion coins are available in various weights and their precious metal content value will often exceed the face value of the coin. The U.S. Mint produces two type of bullion coins: Uncirculated and Proof Coins.

    Uncirculated Coins:

    Uncirculated coins are coins that have yet to enter the commerce stream. All coins start out this way after they are minted, but some coins will remain uncirculated. To be an authentic uncirculated coin it must be certified. It can only be certified if has its original sheen/luster – which it won’t if it has been in circulation. There also must be no signs of wear on the coin. If an uncirculated coin does show any signs of wear it may have physically contacted other coins at mint or when the coins were transported from the mint. Don’t fear: experts will be able to tell the difference between these marks and marks from circulation. Sell your gold and silver coins today! to get a quote.

    Proof Coins:

    Numismatic Coins:

    Commemorative Coins:

    Also Check: How Much Is 24 Karat Gold Per Gram

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