Gold bullion coins are easy to sell and there are many options available for a coin seller. However, just because it is easy does not mean you always get the best deal.
Before trying to sell gold bullion Brisbane, you must know at least approximate value. If you are experienced enough, you can estimate the value yourself, however for beginner coin collectors, or someone who got the coin through inheritance or as a gift, the best option is to have the coin appraised.
Once you know the value, it is time to look for the best place to sell your gold bullion coin.
- Local coin dealers.
These people are true coin specialists and they know what it is you are trying to sell them. The thing is, they run a business, and as such, you may not get the best price from them, as they need to keep their profit margins high enough to be able to resell the coin and make some money off of it too.
- Coin shows.
Coin shows are a great place to sell your gold bullion coins, as you will have dozens of qualified and interested buyers, literally under one roof. You will be able to find buyers and compare offers pretty much in real-time, giving you not only an advantage in price negotiations, but also enable you to sell the coin right away.
- Coin clubs.
Coin club’s membership is a mix of enthusiasts and professional coin collectors, and you will find there both beginners and very experienced collectors. This presents both advantages and disadvantages.
The advantage is, that you will have a very easy time to find an interested buyer. The disadvantage is, that you may find across an inexperienced buyer, who does not really know the value of the coin, or anything about actually buying gold bullion coins.
- Antique shops.
Antique shops typically buy only coins with historical value and do not buy newer coins. You can always try to sell your coins there, but chances are you are not going to get a good deal unless you are offering coins with historical value.
- Pawn shops.
Unlike antique stores, pawn shops are very likely to buy gold bullion coins. The chances are, that the owner or an employee will also know enough about coins and coin collecting to be able to make you an offer. However, it is unlikely that the offer will be too good for you. Just like with coin dealers, pawn shops only buy what they can resell for profit.
- Online auctions.
Online auctions are probably the easiest way to sell gold bullion coins. However, you are presented with a couple of challenges too. You absolutely need to know the value of your coin, and you need to set a minimum price you are willing to accept. Otherwise, if there are not enough interested buyers, you may easily end up selling your precious coin for pennies.
- Classifieds
Placing a short classified in your local newspaper can be quite effective. You will be able to quickly spot potential buyers and compare their offers as well. The disadvantage is, that you may have a lot of tire kickers calling you, and your reach with local classifieds is fairly limited. And of course, you need to pay the fees for having your ad published.
In order to find the best place to sell your gold bullion coins, you need to put some effort into your search. Unless you absolutely need the money right away, take your time and compare several places and offers before making your final decision. Otherwise, you may later regret it.