First time selling coins can be overwhelming. Who can you look to for selling coins, where can one find info on selling coins? If only there was a place where one could go with questions and get answers, oh wait there is it’s called the internet. We have so many more tools at are disposal than previous generations. The internet is essential when looking for a person who’s interested in letting you come in to there store or place of business selling coins to them. I have many friends who ask me countless questions about selling coins. Selling coins is not complicated. You can locate dealers who are interested in buying and selling coins in phone book. Or does a web search for selling coins locally in my area. Either route may assist you in selling coins.
Selling coins is a great way to make a little extra cash when times are tight. Maybe you inherited a box of what you view are junk coins and are interested in selling coins for money instead of taking up valuable space where a nice brand new hot rod can be parked instead. Well maybe not a hot rod but some coins have been bought for tens of thousands of dollars so make sure to know what you have before selling coins.
Dealers will buy bullion coins and sell bullion coins that come in many different weights. These are usually multiples of fractions of 1 troy ounce, but in limited quantities there are some bullion coins in kilograms and much heavier then that. There are premiums over the market price of metal on the commodities exchange for some bullion coins. In part this is because of their comparative small size and costs in manufacturing, distribution and storage. When determining price the margin paid depends on what type of coin it is along with the weight and precious metal associated with the coin. Another thing that affects price is demand for specific bullion coin.
When looking for a dealer who will sell bullion you must do your research and understand how bullion is bought and sold. The market price changes daily and can be up in the morning and plummet in the evening. Dealers use the same spot price that they buy bullion with to sell bullion. The spot price may be found by doing an internet search for gold spot price. If there are scratches or bag marks this may in fact adversely affect the price you receive if you sell bullion to a dealer. Well this should also be taken in to account when you look to buy bullion. Always ask for a coin case when buying bullion so you can store your coin properly.