Last updated on June 7th, 2018 at 12:36 pm
Last Updated on June 7, 2018 Posted by Colonial Acres Coins
Selling world gold coins, know their value first
Buying and selling world gold coins can be quite lucrative as long as you are well-informed and aware of the value of your collection. A good way for beginners is to go online and view the gold coins that are the most advantageous to collect for resale. Also, read books about collecting gold coins of the world, the various shapes, dates and the karat worth of the gold content. This is important for people starting to collect, as old coins that are not in a good condition can only be sold for the melt-down value and not for antiquity value. However, gold coins are a good investment as long as you invest wisely. Usually, when the price of a given currency weakens, the gold price tends to rise.
Standard gold coin weight
The standard weight for a gold coin is one Troy ounce. (31.1 grams, a little heavier than the standard ounce.) Note the difference between an ounce and troy ounce. The coins that weigh less than one Troy ounce (10zt) trade less often and the premium price you pay from dealers is higher and limits potential profit. Rare collectible numismatic coins sell at a high premium, way above the gold value. Most of the buyers and sellers of numismatic gold coins are very experienced. Examples of very rare gold coins are $20 (1933) the most expensive gold coin in the world or the $50 American Gold Eagle with a metal value of over $1,000. A very rare coin is the British Crown of the Rose introduced in 1526 during the rule of Henry Vlll. Another is the British gold guinea made of 22 karat gold.
The end of gold coins as money
Using gold coins as money came to an end in 1933 due to the Great Depression. The United States Government made it illegal to own gold in quantity and melted all of that year’s coinage.
When you want to buy gold coins
Make sure you are not being overcharged when buying. Look into the shipping costs, insurance fees, hidden commissions or extra charges due to the type of payment. There are many websites you can check to buy gold coins from online and most sites accept payment from credit card, money orders, or through PayPal.
Selling world gold coins
When you want to sell world gold coins, get the gold price for the day first, and don’t sell unless the type of coin you have is doing very well, or, when you really need to sell it. Even if the coin is doing particularly well, it often proves wise to wait years before selling certain coins.
At Colonial Acres Coins our knowledgeable and pleasant staff are here to appraise your valuables. All you need to do is bring in your old Jewellery, Silverware, Coin and or Paper money collections to our store for our assessment. We will pay you top dollar if you decide to sell. Contact us today!