Introduction
Are
you aware of the potential opportunity waiting for you in ventures that require
you to sell coins? On the other hand, did you know that many people around the
world who have taken selling coins as means for a secondary income?
Well,
I think you are already aware of the potential this industry has to offer, but not
come across a real opportunity that you can turn into a viable source of income
that selling coin has to offer.
Appraise your coin collection.
You
need to appraise the value of your coin to give you an idea how much it worth.
Whether
you only have a single coin or more, do not sell or trade gold coins without an
unbiased professional appraisal. Because the appraised value of your coin may
be far greater than you assume. At the very least, your coins are worth the
going rate of the actual gold weight.
Take inventory of your collection.
Coin buyers seek particular
pieces, so to trade your coins for cash you need to have an idea of how much it
worth. Obtain an up to date pricing guide for precious metals. Study the
inscriptions to find out the year, country of origin and face value. Catalog
each coin in a journal for appraisal.
How to determine the value of your coin
Look for the highest bidder
You can look for coin dealers, pawnshops,
auction, and collectors choose for a buyer who can give a good offer but always
be careful and make sure to back check the person you are dealing with to make
sure that he or she is not a fraud before making a deal.
Complete the transaction.
If you already found the right
buyer, and you already secured payment arrangement, go through the actual
inventory together. Make sure to compare the journal for accuracy. Ask someone
you trust to be present during the transaction to avoid any discrepancies, no
matter what the method of payment, confirm the account, and close the deal.
Selling Gold
Coins.
As
the values of currency go down, the price of gold tends to go up. You can
profit from this pattern in a variety of ways.
Things
to remember, watch out for gold-plated coins. Just because it is gold plated does
not mean it is worth lots of money. The actual gold is a very, very thin layer
on top of the coin, making it worth less than pure gold coins.
How to identify a gold coin
Evaluate the condition of a
particular coin.
The
condition of a coin, greatly affect its value. Dealers and collectors grade
coins according to their condition. Coin whose condition is describe as
extremely fine (EF), extremely fine, to very fine (E/VF), very fine (VF), and
fine (fine). Familiarize the process of coin grading before selling.
Keep
track of gold value.
Most
newspapers report the price of gold daily, and you can get almost instantaneous
updates online at several sites.
The
value fluctuates regularly, so watch for unusual activity and world events, as
they may affect the rate.
Gold Coin Outlook 2012
Selling Silver
Coins.
Like
gold, silver has many investment asset options as well as a strong presence in
a market where most other forms of investment are questionable.
Likewise
silver is the best and the safest
alternative to dollars and gold—most see the dollar in a downward
spiral, and gold is expensive.
Silver
investing offers the ease and accessibility of an incredible opportunity in a
system without much left for the masses. Try to figure out what the possession
is worth. Only if the seller has a mental idea of the worth of the silver coins
will he be able to get a good bargain for it. Chances of being ripped off are
minimized.
The
price of silver frequently change, so check the market rate and also wait for
the prices to go up before selling.
Try
the different selling options. Like pawnshops, jewelers, collectors, and
dealers that purchase silver items, which are willing to pay good money for the
items.
Online
trading companies are also available to the sellers nowadays. Many of these
online stores also are in the business of buying and selling coins.
Find
the quotes from different sources for selling silver coins. Find the right
buyer who offers the best price with the least hassle.
Silver Coin Outlook 2012
Junk Silver Coins.
Junk
silver coins.
Which
may not be that popular, but still profitable.
These
are silver coins sold in bulk primarily because of the lower silver purity in
each coin. A coin is considered junk silver if it contains 40-90% silver as
opposed to bullion coins which have 92% silver or even higher. The profitability
of junk silver coins depends largely on the rise and falls of the spot price of
silver. It works much like a stock where one can sell coins if the spot price
is higher and conversely buy coins when the spot price is lower.
What is a silver proof coins
Rare and
collectible coins.
Occasionally
a coin investor stumbles across a coin based on its uncommonness.
The
increase in price is depend on the numismatic value of the coin
Among
the other factors that contribute to driving the price up, aside from rarity,
are:
The
overall demand.
The
shape of the coin.
The
history of the coin.
In
many cases, low mintage volumes of certain coins in specific US mint locations
also become a guiding factor for the profitability of coin ventures.
That about sums everything up! Coin sellers should also know the current value of precious metals. Currently, gold and silver prices are high but, if they go down, do not panic. Just wait and study the trends. In fact, just a few weeks ago, gold took a hit but they are back up now.
ReplyDelete- Ted Winebrenner