Being a collector, it is hard for you to part with some pieces of your gold coins—however, there may be times that you have no other choice but to let them go. Your son needs money for his college education, and your coin collection is the only significant asset you have that you can possibly exchange for cash. So you decided to sell your gold coin in exchange of quick cash to support your son’s studies or other reason, but you ask yourself: “Where can I sell gold coins in Scottsdale AZ?”
Before You Sell
It is important that before you approach some gold buyers, you know the value of what you own so you have an estimate of what you are supposed to receive. For instance, the U.S. 1854 Liberty Head Dollar designed by James B. Longacre was sold for almost $400 in 2006. It has 90% gold and 10% copper. The next one was the 1858 Indian Head U.S. Dollar, which was sold for a little over $200 also in the same year. Should you want to be more accurate with your gold coins, you may call reputable gold & silver dealers to inquire about the worth of your treasured coins or you may speak with other collectors who have more experience in selling their gold coins. In addition, if you have quite a number of gold coins, you may inquire with the Professional Gold Coin Services.
Where to Sell
To answer your question “Where can I sell gold coins in Scottsdale AZ?”, look for coin dealers. If you are selling in bulk, you may contact those who live or do business in your area or city. They buy and sell coins to gain profit; thus, they look into three factors before they will purchase your gold coins:
- The market demand (Can they resell it fast?)
- The capital cost (How high is the value of the dollar?)
- The market dynamics (What is the general status of the gold coin market?)
If yours are too common, do not expect to receive much from them. Obviously, the demand of the market is not that high; reselling may not be easy or may take them awhile.
There will be instances when some dealers will only glance at your album. They will not make an effort to closely take a look at each one and then make the lowest offers you have ever heard. Do not be disappointed because this may just be their trick of showing you how “low” the value of your coins are. However, some do these with honesty. They offer you too low because as mentioned earlier, what you have are not rare coins. They only have minimal value that they are difficult to sell.
Place a local advertisement for your coins to target coin collectors if you are not willing to do business with coin dealers. You may be lucky to find those who will buy pieces in top dollars. If this strategy will not work, try other opportunities.
Online auctions like eBay are the most popular options among those who want to sell their gold currencies. This is done in bidding process so do not get excited easily because the bid may come too low. Your target buyers may not be checking at the time you place it in the online market. More often than not, traders do not receive what they expect.
Contact every single-coin buyer you know in Scottsdale, AZ. If you do not know of someone, you may ask referrals from friends or you may want to check local directories online. You may be surprised to discover that some loan providers, lending institutions and pawnbrokers do purchase these types of coins and even make you an offer higher than the dealers or at least, according to the fair market value.
Your question “Where can I sell gold coins in Scottsdale AZ?” has been answered above. But you have to realize that it is not easy especially if what you have in possession are not the rare ones. But do not be disappointed because they still have value. If you sell them in bulk, you may still get the amount that you need for your son’s education. But if you have the exceptional pieces, do not get excited with higher bids. You may want to spend more time looking for the highest value for your gold coins.