How to Sell Gold Coins Locally

by Rich Finzer ; Updated July 27, 2017
U.S. Walking Liberty, $20 gold piece

Items you will need

  • Access to local coin dealers
  • Current copy of "The Official Red Book: A Guide Book of United States Coins"
  • Working knowledge of the Sheldon coin grading scale

Since the year 2000, there as been a steady and dramatic rise in gold prices. If you have decided to take advantage of these market conditions by selling your gold coins to a local dealer, it's a fairly easy task to undertake. It may net you more money than selling your gold to an out-of-town dealer, because you'll avoid shipping and insurance expenses. It will be even easier to sell your coins if they have been independently graded and encapsulated by either the Numismatic Guaranty Corporation or the Professional Coin Grading Service.

Step 1

Research the catalog values of your coins. Based upon their condition or grade, this knowledge will assist you in determining their potential value.

Step 2

Contact one or more local coin dealers. Inquire as to whether they are actively buying gold coins. Explain that you have gold coins you wish to sell.

Step 3

Visit the coin dealers and present your coins for examination. If your coins have been professionally graded, it will eliminate any guesswork about their condition and grade.

Step 4

Obtain a buy price offer from each of the dealers.

Step 5

Compare their price offers, sell your coins to the highest bidder, and receive your payment.

Tips

  • Whether buying or selling gold coins, their prices are influenced by three factors; their grade on the Sheldon grading scale, their rarity, and the current per ounce price of gold.

About the Author

Rich Finzer earned his boating license in 1960 and started his writing career in 1969. His writing has appeared in "Northern Breezes," "Southwinds," "Living Aboard," "Good Old Boat," "Latitudes & Attitudes," "Small Craft Advisor," "Life in the Finger Lakes," "BackHome" and "Dollar Stretcher" magazines. His maple syrup has won awards in competition. Rich has a Bachelor of Science in communications from Ithaca College.

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