February 28, 2011
Selling American gold coins for cash can be a tricky endeavor. If you can find the right entrance to the market, it is entirely possible to sell these coins (especially since the gold market is at a record high). All you have to know is what the size of your coin means and where exactly you should sell it. Once you have this information, it is simply a matter of when you want to sell your American gold coins.
There is no consistent size for gold coins; in fact, their value is measured by the size of the coin. The value for each American gold coin changes in accordance to the coin’s size and weight. The finest form of gold is measured as 999 parts of 1,000. However, most gold coins are usually only 917 parts per 1,000 as they have been mixed with other metal to make them harden. This in turn makes the gold coin easier to mint. Therefore, if anyone tries to sell you a “pure” gold coin, they either do not know what they are talking about or are lying to you. Fortunately, you can easily be savvier than they are with a little research.
If your American gold coin collection is small, you may want to try to sell the coins to a scrap gold dealer. This dealer will pay you the value of your coin based on the weight and gold content. Ensure the dealer does not charge you unfair fees and will tell you how much they will give you, giving you the option to accept or deny their offer. They will then send you a check in the mail for your coins. However, if your gold coin collection is large and you believe the coins are old you may want to get them appraised before selling them. Once you discover the true value of the coins, your best bet is to sell them via an online auction site such as cashforgodusa.com to maximize your return.