June 25, 2018, 5:08 am

Get The Best Price When You Sell Gold Coins

by: The Financial Blogger    Category: Investment, Market and Risk
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Investing in gold coins can’t be a one-way street. You need flexibility and the ability to trade gold coins back and forth to respond to market changes and adjust your portfolio appropriately. A smart investor doesn’t just sit on their portfolio. Even passive investors need to make adjustments to meet their investment goals. But when your portfolio includes gold coins (which it should), how do you sell gold and get the best possible price?

Expect Spot Prices on Gold Coins

If you’ve done your research on gold coins and invested strictly in bullion gold coins, expect to sell gold coins at or near spot prices at the time of sale. That’s the price you would pay if you bought gold coins today, plus premiums, so expect it when you cash in. There will likely be fees such as shipping and insurance, which should always be factored into your earnings calculations before you sell. Always know the exact gold contents of your coins, including purity and weight.

Sell Gold Coins to Online Gold Sellers

Reputable gold sellers should be the first place you go to sell your gold coins. If they operate online like Silver Gold Bull, it’s even easier to do business with them. Always do your research into gold buyers. Check their credentials and reviews online and make sure they’re the real thing. Here’s what happens when you sell gold to a dealer like Silver Gold Bull:

  1. -Fill out a quick online form with product details to get a quote
  2. -Get a shipping label with insurance from the company once you’re approved
  3. -Get paid as soon as your gold coins are verified

If you’re selling bullion gold coins, never go to a pawnbroker or a cash-for-gold business. These are better options if you’re selling gold jewelry that will fetch a smaller price. That’s because gold jewelry is typically melted down for bullion, incurring higher costs. That process doesn’t need to be done for bullion gold coins.

Hold onto Gold Coins

Successfully investing in gold coins means carefully watching the market. You have to take your portfolio’s needs into consideration when you decide to buy or sell gold coins. If you need to cash in to fund another investment and balance your portfolio, it’s time to take the profits. However, gold often does best in the long-term and it can be risky to sell off your insurance policy. You may want to hold out for higher gold prices in the long-term rather than opt for marginal gains today.

Trade Gold Coins for Silver

When you trade in your gold coins, you don’t necessarily have to do it for cash. With online gold sellers like Silver Gold Bull, you can easily exchange gold coins for silver or vice versa. Why would investors swap gold for silver? Both precious metals tend to move in tandem, but silver rises and falls at a greater rate than gold. On a positive upswing for metals, you may want a higher exposure to silver, but then trade silver for gold coins to protect yourself from downsides.

With these rules in mind, you’re ready to sell your gold coins.

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