Shop Around For The Best Deal
Once you have a rough idea of what your gold is worth, you shouldnt accept the first offer you get thats close to the right number. Take the time to look up multiple gold buyers and shop around.
Dont be afraid to take your collection to several buyers and have them give you an offer. Making buyers compete usually means youll get a better deal.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Do Banks Buy And Sell Gold Coins
The answer to the above question will depend on where you live. A lot of banks in the US sell gold coins but they would not usually publish information about it on their websites or advertise it openly for security reasons.
Banks like HSBC and Leader Bank sell gold coins but to get a comprehensive list of banks that sell gold coins in your location, visit the website of the US mint, and use their authorized dealer locator to find banks that sell gold coins around you.
You can also call your bank and ask them if they sell gold coins. Many banks would not openly advertise the fact that they sell gold coins but if you call them, they would readily offer you helpful information on how to buy gold coins from them.
Just like it was stated above, in some countries it is quite common to buy gold coins from banks however in the US it is not the case. Federal Reserve does not deal with individual customers and only sells directly to banks.
In very rare cases, some banks might offer commemorative series gold or silver coins but this might take place only for very limited time periods. So, if you want to buy gold coins from a bank in the US, this will not be possible because most US banks will not sell gold bullion coins or bars to the public.
While most banks hold a portion of their securities in gold bullion bars, these are not for sale to the public. It may be possible to buy gold coins from a bank in Switzerland and some other countries but not in the United States.
Don’t Miss: How To Unlock Gold Saucer Ffxiv
Find A Merchant That Specializes In Gold Bullion
Many businesses that offer cash for gold do it to resell your gold at a markup, meaning the price they offer to buy your gold for will be a lot less. These stores, such as pawn shops that operate on a buying and selling model, need to offer less than what your gold is worth in order to make a profit.
Gold bullion is held as an investment, as the price of gold will almost certainly rise over time. So, when you sell gold bars or gold coins, youre selling close to the market price, as the buyer can expect to profit just by holding on to the gold for a length of time.
Thats why you should always sell gold bullion to a buyer that specializes in gold bars and coins, rather than a retail store that most likely wont offer fair value for your bullion.
Check Businesses Before Selling Your Gold
And as long as were discussing precautions, with potentially significant amounts of money changing hands, you want to do at least as much due diligence as if you were, say, trading in a car. In addition to professional associations and recommendations, you can check with the Better Business Bureau to find out if there are complaints against a business you’re considering, and if so, how they were resolved.
Its smart to weigh your gold before taking it to a buyer — a kitchen or postal scale should give you a reasonable idea of the weight of your items. And make sure that when the buyer is weighing the gold, you pay attention to the procedure.
Also Check: How Much Is 2 Grams Of Gold Worth
Selling Gold To A Jewelry Store: Low Price Worst Experience
I walked into a jewelry store in a nice shopping district of my small city, a place that advertised on its Yelp profile that they bought gold and silver. The store smelled like cigarette smoke. Despite the fact that Omicron was raging near peak levels, neither of the two employees wore a mask.
The worker did not get up from his seat at the rear of the store, but was friendly and seemed helpful. He weighed the necklace with a digital scale and then plugged a few figures into the website he had up on his computer. He offered me $95. Thanks but no thanks, I said. Bye!
Commandment : Thou Shalt Not Buy Obscure Coins In The First Place
This may sound like a lot of forward-thinking but if you want to obtain the best possible prices for your gold, then you need to consider this even before you buy coins. Thats because not all gold is created equal. In a similar way to buying and selling property, some gold coins are deemed very liquid and others are far more obscure and may prove difficult to sell. Its comparable to buying a 2 bedroom flat, close to a main station in the UK, rather than a quirky property in the middle of nowhere, that only a small handful of people will like.
Remember, the larger the buyer market for your particular coins, the easier it is to sell, and the better value youll receive. Play outside of these guidelines and youre playing with fire. It may well be that you buy a strange and wonderful gold coin which was either going cheap or had a fantastic design, but when you try to sell, no one wants it.
Infact, the three key things that you need to focus on when building your gold portfolio are liquidity, variety and value. Focusing on liquidity gives you the opportunity to rake in your capital at the time when you need it most. By buying obscure coins, you are defeating the very purpose of your investments. In order to capitalise on liquidity, your coins need to have a strong secondary market. Some of the most liquid coins in the world are the Britannia, the Krugerrand and the Sovereign. Invest in these and you cant go wrong.
Recommended Reading: Does Mitchell Gold Make Pottery Barn Furniture
Top Bullion Products We Buy
*When selling to us, our minimum purchase amount is $1,000 per transaction.Our buy back prices are for sales over $7,500. Sales below $7,500 will be evaluated slightly below our live prices. We are only able to purchase products from customers who are located in the United States.
Sell To A Reputable Trusted Vendor That Offers A Fair Price
Instead of selling to a pawn shop or local jewelry store, its best to sell to a trusted and reliable gold buyer. These vendors offer competitive prices and will buy your gold coins based on their market value.
Weve listed the best places to sell gold coins, both online and in your local area, in the section below.
Don’t Miss: How Much Can I Buy An Ounce Of Gold For
Sell Coins In Toronto Without Anxiety
If you have been worrying about how youre going to sell coins in Toronto lately, then its time to find the solution that can disarm your worries. Even if some quick cash is all you really want or need, avoid pawn shops and mall retailers who are buying coins from a booth. Selling your coins in Toronto can be accomplished just as quickly for a lot more cash if you go with the family-owned gold and jewelry business Toronto Gold, who will see to it that you are adequately compensated for your coins.
How Much Is A Gold Bracelet Of 14k Worth
Like other precious metals jewelry your bracelet is worth as much as the weight of the gold x the karat. If it has stones, such as diamonds in a tennis bracelet, those gemstones may add value to the bracelet. Learn more about selling your bracelet online.
For other kinds of jewelry with precious metals and gemstones, educate yourself about selling jewelry online before you accept any offer.
*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 is gold worth?
The resale value of your gold is based on the current market price of gold bullion but considers several other factors. The higher the percentage of gold in your jewelry or coin, the higher the value.
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, online gold-buying business is convenient and should give you the most cash.
Should I sell my gold now?How do I sell my gold?How much does gold sell for?
Don’t Miss: Where Can I Watch Kingsman The Golden Circle
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.
Sell Gold And Silver Rhodium Platinum In Nyc
If youre looking for a We Buy Gold, sell gold and silver, sell precious metals location in NYC, stop by our shop! We are located in the heart of New York Citys Diamond District. At our local store, you can sell gold and silver and other precious metals* to us and complete the transaction in less than one day! Stop by during our business hours!
Our address is: 30 West 47th Street, Store 1, New York, NY, 10036, USA
Recommended Reading: How Much Is One Gold Bar Worth
Why Should You Choose Muthoot Gold Point To Cash For Gold
Muthoot Gold Point is one of the trusted companies in the precious metal space. We buy Gold from the customer for market value and promise to provide the right amount for Gold.
- The process is 100% transparent and efficient.
- Selling Gold in its old condition, which may affect its weight and overall valuation. Muthoot Gold Point cleans the Gold with the ultrasonic machine right in front of the customer. Cleaning dirt from Gold helps estimating the appropriate value.
- Advanced XRF machines are used to check values, weight and purity of the Gold.
- At Muthoot Gold Point, the customers can sell Gold for cash. Our services are designed to meet requirement of every customer.
- The current market price is used every time while evaluating Gold.
- Up to 3 decimals points are considered as shown on the weighing scale. It helps with the accuracy of the overall weight, and hence the highest value of the Gold is assured to the customers.
- Muthoot Gold Point uses high quality crucibles to melt the Gold which do not retain any Gold on it after melting.
- A customer gets up to Rs. 10,000 cash is direct. Amount more than Rs. 10,000 is instantly transferred to the customers bank account.
- One of the most trusted companies to exchange Gold for cash in India. Muthoot Gold Point is the part of Muthoot Pappachan Group which has legacy of more than 133 years built on trust.
Sell To A Trusted Gold Buyer
Finally, ensure you sell your gold bullion at the right place. Youre most likely to get the best prices selling online, as these merchants have lower overhead and can thus offer better prices.
You may also be able to find local bullion dealers in your area, in which case these dealers can also be a good option. Just be sure to thoroughly research the dealer beforehand, to ensure they are reliable and trustworthy. Its also a good idea to get a quote or approximation of your gold bullions value before you go in.
Whatever you do, try to stay away from local jewelers or pawn shops. While these stores can offer cash for gold fast, they wont give you good prices, particularly for investment gold such as gold bars and coins, which should be sold quite close to the market value.
You May Like: How Much Is 9 Grams Of Gold Worth
Commandment : Thou Shalt Plan Ahead When Thinking Of Selling Gold Coins
If youre willing to plan ahead rather than leave your sale to the last minute, you can sell when the market spikes. While the gold price rises over the medium to long-term, it can be notoriously volatile in the short term. In any short-term window, the underlying price can vary considerably, and thats the first reference point for the value of your gold coins. Preparing your sale ahead of time enables you to have everything in place to quickly close the sale when you see a daily spike in the price.
How Much Are Gold Coins Worth
The value of your gold coin will depend on these factors:
- The purity of the gold
- The weight of the gold
- The current spot price for gold
- Whether or not your coin has any value as a collectible
Whether or not your coin has any value as a collectible, it will always be worth at least its weight in gold.
You May Like: Should You Buy Gold Now
How To Sell Gold Jewelry For Cash Near You
Theres no doubt that Indians are one of the biggest consumers of Gold. Indian households are believed to have accumulated an astonishing 25,000 tonnes of Gold whose value would be approximately equivalent to 40% of Indias GDP in 2019. Indian families tend to hold Gold for many decades and also pass them on to the next generation. There is not only an emotional attachment to the yellow metal but also a tremendous appreciation for its quality as a dependable asset. One may also sell Gold for cash whenever there is a need to do so.
While selling Gold Jewellery, some of the most important factors to consider are Gold value and the trustworthiness of the place to sell your Gold. Even after having many dealers who buy Gold, people are not certain when the question where to sell Gold arises.
Are you searching cash for Gold near me on the internet but not getting any promising results? Dont worry! Now it is easy to sell Gold jewellery with Muthoot Gold Point. We have 11 branches spread across India and mobile vans in Mumbai & Bengaluru which are well equipped with modern ultrasonic and XRF machines. Search cash for Gold near me to find any of our offices in India. For example, people residing in Delhi can find us at our branch located in Karol Bagh. And, you can walk-in to any of our branches located in Bengaluru, Chennai, Ahmedabad, Coimbatore, Delhi, Hyderabad, Kolkata, Mumbai& Vijayawada and sell Gold to get instant cash.
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.
Don’t Miss: How To Move 401k To Gold Without Penalty
Should You Sell Your Gold Online
Like with almost every other business transaction, the internet is an option for selling your gold. Ebay, for example, has a marketplace where sellers can send a photograph of their item and receive a quote — without sending in their item. Notably, their buyback partner, APMEX, only accepts bars, coins and rounds.If you have coins or bullion, Smith said, selling the items on eBay is better than a pawn shop. But he prefers local in-person transactions to online sales. Basically you know who you are dealing with, he explained. I guess Im old school inasmuch as I like to deal face to face. If I dont get that warm fuzzy vibe of trust I go elsewhere.
Special caution is warranted, though, if you elect to mail your items to a potential purchaser as part of an online sale. Make sure to take photographs of your items and make a list before mailing them out. Also, you should insure the package before mailing it.
Where To Sell Your Gold Coins
If you have gold coins or bars that youd like to sell, you have several online and offline options to choose from:
- Abe Mor. Located in New York City, Abe Mor operates an online gold buying program that lets you quickly and easily sell your gold coins, bars, jewelry and other items. To sell your gold coins, all you need to do is request an offer online. If you accept the offer, Abe Mor will provide free, fully insured delivery via FedEx or US mail. Once you send in your gold, youll receive a final offer and payment within one business day.
- Local gold bullion dealers. If you live in a medium-sized or large city, theres likely at least one or two gold bullion dealers located within driving distance of you. You can find gold bullion dealers by searching for things like gold bullion or gold coin collectors located in your city. For gold coin collectors, check that theyre members of trusted organizations such as NGC or PCGS.
- Coin shows and expos. There are numerous coin and bullion shows held throughout the year, usually in major metropolitan areas. If you have a reasonably large coin collection, visiting a show could help you learn more about reputable places to sell.
Also Check: Gold Sovereign Value By Year