Sell Gold Coins: A Beginners Introduction Made Easy
Sell Gold Coins: A Beginners Introduction Made Easy
Collecting, buying and selling gold coin is not an overwhelming subject. It is not meant to be monopolized by jewelers, bankers and certified gold coin dealers. If you are interested to learn about it, you have landed the right page online. This article aims to give you basic information without giving you a mental indigestion.
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History
The first gold coin was created in Egypt. The Pharaoh commissioned his goldsmiths in 2700 B.C to create token of gold that he can dispense as gifts and it was not created as a legal tender for business transactions. It was only in the 6th century B.C in Turkey when coins were created for commerce. They were stamped with the image of either a bull or lion and stamped with the king’s seal. Coinage spread in the Persian Empire. Persians even built a big gold treasure which was looted by Alexander the Great when he conquered Persia. He then used the gold coins to obtain military supplies and pay his armies. The whole Roman Empire followed suit and used coins for army pay, and commerce. Minting and use of gold coins spread from Europe, China and to other parts of the world.
During the Great Depression in the US, people begun hoarding gold and the American government issued a law recalling all gold including coins and it became the end of the worldwide gold coinage.
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Gold Coins In Modern Times
Today, a gold coin is for collecting or investing. Some people buy it for its numismatic value and the rest invest in gold bullion coins because it is a safe investment especially when the economy is unstable like what we have now. The value of a gold coin in the market now depends on the following factors: weight, amount of gold in it, rarity, number of coins similar to it that were minted and when it was made. The condition of the coin will also highly affect its value. Another factor that will highly affect the value of a gold coin is its brand. The top brands today are the Canadian Maple Leaf coin, American Eagle coin and South African Krugerrands coin.
Selling Gold Coins
There are many ways one can sell a gold coin and the traditional way of disposing it online is to auction it through Ebay. It is very easy because you only have to set it up for online auction for 5-10 minutes and you will just sit back and wait as people start bidding. You can also post an ad in Craiglist, but post your ad within your area only otherwise you will be spending money for shipment and insurance. If you want to have cash in your hands instantly because you have an immediate need, the best option is to sell it to a pawnshop. However, you will only receive the amount that the pawnshop is prepared to offer and it would be less than a fraction of the value of your gold coin. Some people who want to sell their coins hassle free, safely and receive the highest payout possible, sell it to legitimate online jewelers. Legitimate online gold jewelers have insurance coverage, they cover for shipping costs and they offer full service guarantee. It is very easy to do business with them.
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