You might think that all gold coins are worth more or less the same, but that’s like saying every car is worth the same. Gold coins will vary in value depending on how rare they are, when they were minted, in what condition they’re in, the metal content, the standard of production, etc.
To determine how much a gold coin is worth, check the current gold price and the metal content. This will give you an idea of the coin’s most basic metal value and will be a good indication of the coin’s worth. Bear in mind that when you sell a gold coin, you’ll usually get slightly lower than what it’s worth. This is normal and covers the dealer’s costs to test and process the coin.
As stated, a coin may often be worth more than its basic metal value because it’s considered collectable. The value of a collectable coin could be higher because of its rarity or because it’s been produced to a much higher standard than a normal bullion gold coin, such as a proof or brilliant uncirculated coin. It might also be a commemorative coin with limited mintage numbers. These are issued to mark a key event or person.
Where to Sell Gold Coins for Cash?
If you’re looking to get cash for gold, then know that gold coins and bars are always in demand. Gold coins are typically easier to sell for cash than gold bars, as you can sell them in far smaller denominations than when trying to sell a gold bar. This allows you to sell what you need and keep the rest for a rainy day.
Gold coins can be sold to collectors and other investors, but the most common option is to sell your gold coins to a bullion dealer. Always choose a reputable dealer that’ll honour current gold market prices. No dealer will give you the precise market value as the difference allows them to make a profit while covering their overheads.
So, it’s always a good idea to aim slightly above the value you wish to sell your coins for. Know what you’re selling, understand its value, and steer clear of pawn shops and brick-and-mortar jewellery stores.
This is because you’ll nearly always receive a subpar price for your gold. Pawn shops and jewellers must make a large profit from each transaction to cover their overheads and make a profit. They are also generally not experts in precious metal trading, so they likely won’t recognise the value of what you bring them.
Can Gold Coins Be Sold?
Absolutely! You can sell gold coins regardless of their basic metal value and collectability. Gold coins are a very flexible means of selling gold, as you can sell as little or as much as you need to generate the income you require. This makes gold coins a preferable investment for many people who choose gold coins over bars for their greater liquidity.
Gold coins are also minted at a standard weight. This makes it much easier to trade gold coins internationally, allowing you to tap into a wider buyer’s market. At Gold Investments, we can assist you when you’re trying to sell your gold coins. We provide a safe and secure online platform through which you can assess current market prices and sell your coins.
This ensures that you get the best price for your coins and that you can breathe easy knowing you’re fully covered every step of the way. We accept ALL minted coins, regardless of origin or dealership. The only requirement is that they are bullion gold coins.
We list all live market prices – all you need to do is click the sales tab when your target price is reached. This price will be locked in for a set period of time. You can also use our price limit alert system to notify you when your target price is reached.
Which Gold Coins Are the Best Investment?
The best gold coins to invest in are the ones that yield the most benefits, such as assuring you of a decent sale price in the future. Here at Gold Investments, we stock a wide range of popular gold coins which are perfect for investment purposes. We have coins that will make a fantastic addition to any portfolio and are a great way to diversify.
Typically, you want to go for gold coins because they have low premiums and are highly flexible. What is a premium? A premium is an extra sum added on top of the spot price of a gold coin. The spot price is the price you’re paying for an ounce of gold. A premium is what you pay on top, and this is determined by factors such as:
- Manufacturing Costs
- Distribution Costs
- Profit Mark-Up for the Wholesaler Selling the Coin to a Retailer
- The Retailer’s Mark-Up to Cover Costs and Realise a Small Profit
So, you’ll never pay the spot price. The beauty of gold coins is that they have far lower premiums than gold bars, meaning you’ll pay less on top of the spot price.
Gold coins are also exempt from VAT in the UK, and The Royal Mint’s Sovereign and Britannia coins are capital gains tax-free. Invest in quality coins from reputable mints, and you’ll be guaranteed a solid return on your investment.
Check Out our Gold today!
If you’re looking for the best gold bullion, look no further than Gold Investments. We’re the company to choose if you wish to buy gold and silver coins and bars. We’re one of the oldest gold bullion dealers in the UK and one of only a few to offer live online market price tracking. We’ve supplied high-quality gold bullion for over 40 years, establishing trust with our ever-growing client base.
With Gold Investments, you have a great choice of precious metals, competitive pricing, insured delivery, and optional storage in our secure London vaults. To learn more about what Gold Investments can offer, call us today on 020 7283 7752.