How to Sell Small Denomination Gold Coins for the Best Prices
Small denomination gold currency have increased in value over the past few years in step with the increase in the price of gold. However, you may experience some difficulty when you sell small denominations gold currency unless you go about selling these currency the right way. Small denomination gold currency, also referred to as fractional gold currency, are typically composed of 22k or 24k gold, and are available in 1/20 ounce, 1/10 ounce, ounce, and ounce denominations.
As a very rough guide on how to price small denomination gold currency, consider the following estimated prices for the 1/10th, 1/4th and troy ounces American Gold Eagle:
* 1/10th troy ounce gold coin, $5 face value. This coin typically sells for around $150-$180 depending on the prevailing price of gold in the market. It has a purity of .9167 and a total weight of 0.1091 troy ounces.
* The American Gold Eagle tenth ounce gold coin has a face value of $5, but is worth well in excess of its face value. When selling it and basing the price on the spot value for gold, you should be able to get anywhere from $160 to $180 per coin. This of course varies based on the spot price of gold at the time of the transaction. The total weight of a 1/10th ounce gold eagle is .1091 troy ounces.
* troy ounce gold coin, $25 face value. The typical selling range is from $800 to $830 and contains 0.9167 pure gold in the 0.5454 troy ounce coin.
There are other small denomination or fractional gold currency that can also be sold at similar prices like the Chinese Panda, South African Kruggerand, Canadian Maple Leaf, Austrian Philharmonic, and the Australian Kangaroo, to name a few. The prices may not be exactly the same as the American gold eagle currency, but the differences will be slight.
As a business transaction, selling small denomination gold currency is mostly about pricing. For this reason, it is imperative that you select a gold coin dealer in Atlanta that is above board and is known for being fair. If this is your first time selling small denomination gold currency, you need someone who will not take advantage of your inexperience. Also, don’t be discouraged if you get turned down by some coin dealers, as not all gold coin dealers specialize in small denomination gold currency.
If you are totally new to the industry of selling small denomination gold currency, remember that the quote should be based on the spot price of gold. The spot price is the value of the metal as determined by the precious metals market. The gold content is then multiplied with the spot value to get the highest possible price for the coin. Consequently, you can expect to be quoted a price lower than the spot value as the gold coin buyer in Atlanta will need to profit from the transaction. For this, your task should be to find the most competitive prices from gold coin dealers in Atlanta and pick the one that will quote you the highest price.
If you happen to have small denomination or fractional gold currency that you’d like to sell, now is an excellent time to do so considering that the precious metals market is performing well. With the prices of gold nowadays, even 1/4th ounce and 1/10th ounce gold currency are extremely valuable. Perhaps it is time to liquidate your investment and profit from the sale of your currency while the price of gold is still high.
Want to find out more about how to sell small denomination gold currency, then visit Atlanta Gold and Coin Buyers’ site on how to choose the best way to sell fractional gold currency in Atlanta.
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