Gold coins have become a hot commodity recently as the price of gold has inexorably climbed upward. American Gold Eagles are a popular investment coin because of their purity and because of their association with the U.S. Mint.
The American Gold Eagle is the official bullion coin of the U.S. It was first minted in 1985. American Gold Eagles come in 1/10, 1/4, 1/2 and 1 ounce denominations and have a purity of 22 carats.
Gold recently smashed through the $1,400 per ounce and appears set to climb even further. At some point, holders of gold coins like the American Gold Eagle may want to cash in their investment. Knowing the best ways to sell the American Gold Eagle is key to ensuring you get the most out of your investment.
When preparing to sell your American Gold Eagle coins, you’ll first want to check the price of gold. You’ll then want to apply that price to the weight and purity of your coins to determine their value.
Prior to putting your coins on the market, check and see what other gold eagles are selling for. They may be selling for higher than the metal value based on demand. You can check various online auction and sales sites for prices.
When you prepare to sell your coins, make sure you have all documentation of authenticity for your coins ready to go. Documentation helps you reassure buyers that your coins are legitimate.
You’ll need to decide a venue for selling your coins. You can take your coins to coin dealers or auctions, but you may get a better deal by trading online. You can start by listing a Craigslist ad. The ads are free and have a nationwide audience. You may also want to try auctioning off your coins on eBay. This may get you a high price as buyers will compete to buy your coins. However, the site does charge an auction fee and their may be other costs associated with selling on the site.
When preparing to sell your coins online, you’ll want to post pictures and provide as much detail as possible about the coins (year minted, weight, purity, etc.). This makes the coins more attractive to buyers.
When selling your American Gold Eagle coins, it’s important to establish a goal price and also a minimum price. This will give you a realistic expectation of how much you can expect to make from the sale of the coin.
American Gold Eagle coins are a solid investment. With the proper diligence, selling them at the appropriate time can be easy and profitable.
