How to Sell Gold Coins - a Collector's Guide

To sell gold coins, you first need to get an appraisal on your coin collection. Depending on the size and value of your collection, consider multiple appraisals.

Then, determine whether the offers you get make it worth parting with your collection, and decide if it’s time to sell your gold coins.

Selling your gold coins ultimately comes down to getting a fair market price from a dealer you trust.

Keep in mind, some gold and silver coins carry extra value compared to gold and silver bullion, while others do not. To ensure you get a fair appraisal and minimum market price for your coins, make sure you deal with reputable numismatic coin buyers.

If you have any gold coins you already know you want to sell, or some would like to know more about, you can get a free coin appraisal for an initial market value estimate and ensure you get a fair price for any coins you’d like to sell.

Steps to Sell Your Gold Coins for the Best Price

Take the following steps to ensure you’re selling your coins to a gold buyer giving you a fair price.

1. Gather and assess your coins prior to appraisal.
2. Get at least one appraisal from a reputable buyer.
3. Compare prices from different offers.
4. Decide to sell or keep your coins.

Most major metropolitan areas have some local coin stores with reputable dealers, but there is always the risk of getting ripped off if you are not careful.However, getting an online appraisal is a risk-free and convenient option as well. Additionally selling your gold coins online can make the whole process easy and avoid the need to transport coins and commute to stores.

Are Your Gold Coins Worth Selling?

The value of your gold coins comes down to two factors:

1. The value of the gold in the coin itself
2. The numismatic premium, or value associated with rarity and condition of the individual coin

The gold content in your coins will literally always be “worth its weight in gold.”

For gold and silver bullion coins and bars, you can at minimum get spot value, just be sure you know the price of gold and can take advantage of any high periods in the market before you consider selling.

Since gold and silver prices both affect the potential value of a coin at any time, it’s always best to sell to coin specialists as opposed to generalized gold buyers.

Additional price above spot value, known as the “numismatic premium”, is where coin values can drastically increase beyond the gold prices.

This is where you want to avoid selling to a pawn shop, jewelry shop, or other bullion dealers who may focus on the per gram gold value versus the true numismatic value, which depending on the coin, can be a substantial markup.

So, you can always get cash for gold coins, it comes down to whether you need to sell the coins to pocket the money or make a profit and invest it elsewhere.

Many collectors take advantage of high gold prices to offload coins with no numismatic premium, whereas rare gold coins are typically always an attractive sell.

Value in Gold Bullion Coins

Your coin’s value being in the bullion would be based on the amount of gold in your coin. As such, a 1oz gold coin will always be worth the same as an ounce of gold, at minimum.

When you are ready to sell, the percentage of gold in and the weight of your coin are taken and compared with where the gold market is at the time. This would be the same as selling gold jewelry or selling precious metals.

Just like how any gold, silver, platinum, palladium, or any other precious metal is weighed in troy ounces (approximately 31 grams), so is the gold in your coins. 

Value in Rarity

This is when a coin is so rare that the amount of gold in it is insignificant in comparison.

If you are looking at a coin collection you inherited, it can be hard to think there is any worth in these coins outside the face value or precious metals in them.

Sometimes the history of a coin is more valuable than the gold inside of it.

The selling price of gold changes more frequently and rapidly than the rarity of a coin does.

The Best Way to Sell Gold Coins

You effectively have two options to sell gold and silver: online and in-person.

How to Sell Gold Coins Online

To sell gold coins online, simply fill out an appraisal form and get a free appraisal. If you like the offer, you’ll ship your coins via a carrier such as Fedex, and a good online coin buyer will even offer fully covered shipping and insurance.

If you work with Coinfully to sell your coins, on qualifying collections, an expert will schedule a pickup, come to your home, and do the transaction in person. We also buy gold bullion and gold bars online. If you are able to sell in person, you’ll find it even easier online.

Regardless, it always starts with getting an appraisal.

Where to Sell Gold Coins In-Person

Coin dealers and coin shops will buy your gold or silver coins from you, although many folks who sell their gold to local stores are not going to get the full numismatic value.

For a traditional in-person store experience, you’ll need to find a nearby dealer in your area. The only advantage would be you do not need to ship your coins.

However, you still need to gather and pack up all your gold coins and take them where you want to sell them.

They will make you an offer and you can either choose to sell your coins there or take them somewhere else.

A downside to selling your coins in person is that if you take them somewhere and get a price that does not line up with their true value, such as the dealer just wanting you to pay based on ounces of gold, you then have additional commuting, packing, and risk from transporting your valuable U.S. coins. Finally, to emphasize one more time, we recommend you never sell to a pawn shop or jeweler.

If you want to sell coins online easily, you’ll need to compare your options. Some places specialize in bullion, while others focus on numismatic (collector) value.

At Coinfully, we provide a free online coin appraisal service, and for large collections, we will meet you at your home to evaluate and make an offer on your gold coins.

How to Find Gold Buyers Who Pay Cash for Gold

Most websites that give appraisals will also be willing to buy your coins online. 

This process involves sending your coins in and waiting for payment to be sent back.

Some people do not like to sell their coins online because they feel that the customer service is never as good or that it is hard to trust a process you cannot see. Which can be true.

That is why we decided to start Coinfully. We wanted to make a quicker, transparent, and more pleasant experience for everyone involved when selling your coins. With payments sent to you in one business day. 

For a simple and stress-free experience, consider zero-pressure coin selling with Coinfully.

We will even send additional money if, upon delivery, we discover your coins are more valuable than the initial assessment – that’s part of our Coinfully guarantee.

If you want to get the best price for gold coins, our experts can ensure you receive a fair and accurate offer.

We are especially fond of buying pre-1933 gold coins if you happen to have any in your collection.

How Much Will I Get if I Sell My Gold Coins?

At Coinfully we cannot say how much you will get for any of your coins without seeing them either in pictures or in person.

The price of your coin depends on the condition as well as supply and demand. Coins in closer to uncirculated conditions sell more than worn coins. Harder to find popular coins sell for more as well.

Even if you have worn and common gold coins, they still hold value in their gold content long term. If this is the case for you, consider your gold coins an investment in precious metals. If you want to know the value of your collection, request a free appraisal for your coins.

What Gold Coins Have the Highest Prices?

Categorically, the most valuable gold coins include the following:

1. American Eagle Coins
2. American Buffalo Coins

Record American Eagle Sale

In terms of total record, a $20 Gold Double Eagle coin has the highest price of any coin ever sold.

Named for being twice as much as the $10 American Gold Eagle coins (which are the most popular gold coins), no other coin has been bought at a higher price than a 1933 American Gold Double Eagle coin at an auction in 2021.

However, you will probably not see this in your coin collection.

Of the 14 known examples of these coins, 13 are owned by the United States while the 14th was sold to an unknown buyer for $18,900,000. Making it the most expensive coin ever. Check out our guide on the most valuable gold coins to learn more.

With that said, there are many coins in this category whose value drastically outweighs the gold price of the coin per ounce, so any gold coins in your collection should be appraised by a professional.

Should I Sell My Gold Coins?

No one can decide that but you.

At Coinfully we will never try to tell you if you should sell your coins or talk you into selling your coins. We can help by telling you how much they are worth, offering you competitive prices, and showing you where any value your coin has is. 

Our experts want to make sure you are knowledgeable about your coins so you can make the right choice in selling or keeping your coins.If you want to learn more about your gold coins, reach out for a free zero-pressure appraisal.