How To Determine Gold Coin Value

Although you wouldn’t sell your car without knowing its value, many people don’t research gold coin value before exchanging it for cash. This isn’t something that’s advisable especially since there are a lot of quick and easy ways to determine the value of your gold coins today.

Learn What Gold’s Currently Priced At

Anyone who bought gold before its value spiked in the 1970s could be sitting on a lot of money right now. This is because the price of gold has increased by as much as 30 times since then. When you consider this as you look at your gold coins you’ll already know what their minimum value is.

Learn What Your Coins’ Actual Gold Weight (AGW) Is

When you sell gold you’re selling it by both its purity and its weight. The closer your coins are to 100% gold, the more valuable they’ll be. This is why you should take AGW (raw weight multiplied by purity) into consideration in the beginning. While you can easily use a kitchen scale to weigh your coin you’ll need to research your coin’s year, mintmark, and style to determine how much gold it contains.

Learn About Your Coins’ Melt Value

This is the amount of pure gold you’d have if you were to take the time to melt down your gold coin collection yourself. When you do so you may discover that there isn’t as much gold there as you’d think since most coins are “cut” with a low-value metal like zinc. Unfortunately, your gold coins are only worth their melt value though.

Take Time to Shop Around

You should never sell your gold coins to the first person who makes you an offer. You’ll find that it’ll pay for you to take some time to shop around to ensure you receive the highest possible offer for them. You’ve got nothing to lose in doing so because a reputable dealer will provide you with a quote for your coin’s resale value and help you determine their melt value so you’ll know how much your coins are truly worth.

The Bottom Line

It can be both fun and educational to sell your gold coins especially if you find a dealer who’s eager to talk about their coins and some of the previous trades they’ve made. Taking the time to research gold coin value ahead of time will enable you to negotiate a more favorable trade so take some time to do your homework so you get an honest price for your gold coins.

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