How to Cash in Gold Coins

You don’t have to collect gold coins or invest in them in order to have them. Many people get gold coins often without having any interest in them, beside a question they keep asking themselves: how to cash in gold coins.

There’re a few places where you can sell your gold coins: jeweller shops, coins dealers, pawnshops, and of course you can sell them online. Any gold coin or any coin made of any precious metal has two parts of its value: the gold value and the numismatic value (for bullion gold coins it can be just a premium on the gold value in percents).

The numismatic value of a coin can be affected by several factors: its grade (condition), its mintage (the number of coins issued), and its year of issue (how old it is). So obviously, an older gold coin in perfect condition minted in very small number will worth a lot more than some modern gold coin in poor condition minted in great number – that simple.

Before you hand your coin to any of the places mentioned above, you must find out the right value for your gold coin. The easiest way to do it is to have a coin catalogue and being able to grade your coin appropriately, and if you had one and were capable of doing coin grading, you probably wouldn’t be reading this article.

You can start with asking your local coin dealers, they may not give you the right price, but at least you’ll get some idea of what your coin is, what grade it is in, and what it’s worth. Going to a jeweller shop can be justified only if you don’t have any coin dealers around – they may know about numismatic value of coins, but usually, they just give you their gold value, which can be relatively small compared to their numismatic value. Going to a pawnshop can hardly be justified a