Gold is a stable investment that can protect you from financial strain during times of inflation. Gold’s easy liquidity and high demand mean investors are willing to buy gold bullion bars, ingots, and coins to diversify their portfolios.
If you decide to sell gold coins from your collection, finding a reputable buyer is essential for getting the best price for your pieces. Discover where to sell your gold coins in Michigan safely and how to ensure you get the highest profit on your gold coin collection.
Assess Your Coins Before You Sell
Before selling your gold coins, it may help to have their value assessed first. You can work with the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Company (NGC) to have your coins graded and understand their value.
Some coins, like the United States Gold Eagles or Gold Buffalos, are bullion coins, which means you can use them as legal tender. Numismatic coins, such as commemorative and rare coins, can’t be used as legal tender; however, you may be able to sell them for a high value depending on their condition.
The best way to understand the value of your coins is to speak with a local coin dealer. Au Precious Metals is a reputable coin buyer located in Novi and Rochester, Michigan. We can use our state-of-the-art XRF equipment to test your gold coins and give you a top-dollar quote for your pieces. We will also use our years of industry knowledge and experience to assess the value of rare or collector’s pieces.
Safe Places to Sell Gold Coins
Choosing a safe and reputable coin dealer when selling your gold coins can help you receive a fair cash payment for your collection. Selling to a local, trusted precious metals dealer ensures a proper assessment of your coins’ value and a fair cash-back deal.
When looking for a buyer for your gold coins, consider the following checklist:
- Uses X-ray assaying. A reputable dealer will use high-tech assaying techniques to ensure you get the full value for your coins. AU Precious Metals uses XRF technology to ensure you receive the amount you deserve for your coins.
- Good reputation. A reputable dealer will have a good reputation within the local community, giving you peace of mind when making a transaction. Check the buyer’s website, social media, and Google listing for reviews and testimonials from other customers.
- Offers top-dollar. Reputable dealers offer a high price for valuable gold coins. Depending on the coin type, you may receive well over its ounce-per-ounce spot-price value or near the market value for bullion at the time you sell.
- Industry professionals. Safe coin dealers are owned and operated by professionals in the precious metals industry. The staff at AU Precious Metals understand the nuances of valuing gold coins and take pride in offering customers fair amounts when buying from someone’s collection.
Places to Avoid When Selling Gold Coins
Avoid unsafe buyers like pawn shops, jewelry stores, cash-for-gold schemes, or unknown private buyers when selling your gold coins. These businesses may lack the professionalism and industry knowledge to give you a fair price for your gold coins.
Pawn shops and cash-for-gold companies typically offer you a much lower price than your item is worth so they can make a profit. Private buyers are untrustworthy because it is too difficult to vet them properly to ensure they don’t pay with a fake check or underpay you for a valuable piece.
Sell Your Gold with AU Precious Metals
If you’re looking for a safe, reliable way to sell your gold and silver coin, call or visit AU Precious Metals. As a professional precious metal dealer in Michigan, we understand the value of bullion and numismatic coins and will pay you a fair amount for your pieces.
We are known for our helpful customer service and friendly staff and are always happy to answer any questions about buying or selling precious metals.