Take your gold coin to a jewelry store or pawn shop. It's an option to sell directly to a jewelry store or pawn shop, but you should go to one or both locations no matter where you sell. Look for a reputable jewelry store or pawn shop, bring them your gold coins and ask for an estimate to assess their value. Since you'll be buying gold or other precious metals below market value, you can sell them quickly and make a small profit.
If you're looking for a more secure investment option, consider researching a Gold IRA rollover review to learn more about investing in gold. However, waiting until the market rises is a better idea, and then you'll get a better return on your money. Gold bars are held as an investment, as the price of gold is almost certain to increase over time. Therefore, when you sell gold bars or coins, you sell close to the market price, as the buyer can expect to make a profit simply by holding the gold for a period of time. For this asset to be profitable, it can be achieved by purchasing gold in the form of coins or ingots.
Here at Atkinsons Bullion, we have a guide that shows you how to buy not only gold and silver coins, but also gold and silver ingots. Instead of buying gold coins from Europe or America, the best investment you can make is to buy gold coins from the United Kingdom issued by the Royal Mint, such as Britannias and Sovereigns, since they are exempt from capital gains taxes. That's why you should always sell gold bars to a buyer who specializes in gold bars and coins, rather than to a retail store that probably won't offer the fair value of your bars. Selling with a reputable online dealer like Abe Mor is the best way to get closer to market value and convert your gold bars into cash without any undue hassle.
Gold is a good investment and if you plan to have a buying and selling business, here are some tips for selling gold that I learned from David Goldstein of Biltmore Loan and Jewerly. For the past 20 years, the price of gold has reached its highest point during the month of September, so you may consider selling gold during this month. Buying British and Sovereigns allows you to maximize gold prices, in addition to avoiding having to pay a capital gains tax (CGT) on your gold coins. You can check the value of your gold bars with your gold price calculator and then fill out a simple form to get a quote for your gold.
The largest funds in this sector include the VanEck Vectors Gold Miners (GDX) ETF, the VanEck Vectors Junior Gold Miners (GDXJ) ETF and the iShares MSCI Global Gold Miners (RING) ETF. This contrasts with the owners of a business (such as a gold mining company), in which the company can produce more gold and therefore make more profits, increasing investment in that business. Therefore, if you keep physical gold as savings or for investment purposes, it is best to store it in ingots or coins. If you know what you have and what it's worth, in addition to selling it to a reliable gold buyer, you'll go a long way in getting a fair price for your gold.
Many companies that offer money for gold do so to resell it with a profit margin, meaning that the price at which they offer to buy their gold will be much lower. My best purchase was a white gold Rolex President for 3000 pounds that I bought for 5000 pounds (it was very frowned upon).