Looking to sell gold coins for cash? Given gold’s value, if you have gold coins inherited or bought years ago, there’s a high likelihood that their current market price will be significantly higher. As of April 28, 2024, the price of gold per ounce $2,338.61 (per Kitco).
Where to Sell Gold Coins
Wondering where you can sell gold coins?
“Sell Coins Near Me” to Local Gold Coin Buyers
Typically, people tend to search terms like “sell gold coins near me,” “sell gold coins for cash near me,” “where can I sell gold coins near me,” or “coins for cash near me.” This usually leads them to local pawn shops and jewelry stores. However, a local shop might not be the best place to sell gold coins.
Physical stores often provide lower offers due to overhead costs such as rent, utilities, insurance, maintenance, and cleaning. These costs influence the price they are willing to pay. Here are a few other challenges that may arise when trying to sell gold coins “near me”:
- Buyer Knowledge: The buyer may not be well-versed in gold coins, leading to a lower valuation.
- Coin Condition: If the gold coins are not in good condition, local buyers might not make an offer.
- Profit Margin: Local buyers must maintain a profit margin, especially if they plan to resell to a gold and silver buyer like Cash for Silver USA.
Sell Gold Coins Online
If you want to know what is the best way to sell gold coins, we believe it is ideal to sell gold coins online. When dealing with an online buyer of gold coins, like we do at Cash For Silver USA, you can sell your coins effortlessly and secure a fair price because we beat any written offer. Here are some advantages of selling gold coins online:
- Competitive Payouts: Online buyers, having less overhead, are more likely to offer a reasonable price for your gold coins. Cash for Silver USA promises to beat any written offer.
- Swift Payment: With an online buyer, you can receive payment quickly. We give you an offer within 24 hours of receiving your gold coins.
- Current Selling Price: Compared to pawn shops, online buyers are more likely to provide the latest rates for your gold. Your offer is based on the current gold price.
- Simplified Process: An online buyer can send a mailer directly to your address, eliminating the need for travel.
Expanded Selling Options: Online buyers are often willing to consider badly damaged coins that jewelry shops and pawn shops might reject. They focus on the weight and purity of the gold. - Price “Beat” Guarantee: Cash for Silver USA promises to beat any competitor’s written offer or return your items to you free of charge.
Cash For Silver USA has served thousands of customers, paying millions of dollars to those selling gold coins and other precious metals, including silver, platinum, and palladium. We accept all gold coins regardless of denomination, condition, or country of origin.
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How to Sell Gold Coins for Cash
When you want to sell your gold coins, here are some tips:
- Find a reputable buyer. Look at their Better Business Bureau rating and customer reviews. We have an A+ BBB rating and many five-star reviews from our customers.
- Consider selling gold coins online. When you sell gold coins, getting multiple offers is a good idea. The common view is that if you need money fast, you should sell locally, and Cash for Silver USA pays out quickly within 24 hours of receiving your gold coins.
- Research the value of your coins. While the value is primarily based on the gold content and weight, coins with numismatic or historical value might be worth more than gold.
What Gold Coins are Worth
Three factors are considered when trying to calculate the value of a gold coin:1
- Date – When was the coin made?
- Mintmark – This small mark indicates the mint where the coin was made.
- Condition – What is the coin’s physical appearance?
A method to estimate the worth of your gold coin is to check the current retail price that dealers are asking. It’s important to note that the retail price is nearly always more than the amount you would receive if you decide to sell your coin to a dealer.
Using a gold coin grading scale can offer a more precise evaluation of your gold coins. These scales are universally accepted methods for determining a coin’s actual worth. Coin grading scales are standardized systems for assessing a coin’s true value. The most recognized grading scale is from The American Numismatic Association (ANA).2
A gold coin’s value is based on its Actual Gold Weight (AGW), which is measured in troy ounces. To determine the AGW, multiply the weight of the gold by the purity.3 How do you find out the purity? Look for the coin’s karat number, a coin marking that refers to the relative amount of gold in the coin. A 22-karat coin is 22 parts gold and 2 parts are non-gold materials. Here are common karat numbers and their gold composition:
- 24 karat: 99.9% gold
- 18 karat: 75% gold
- 14 karat: 58.5% gold
- 9 karat: 37.5% gold
It is common for gold coins with historical significance or unique features to be valued for more than their gold content’s spot price. If you find it challenging to estimate the value of your gold coins, it could be beneficial to seek a professional appraisal from a trustworthy dealer. If you want to sell your gold coins, request a free Appraisal Kit. We will evaluate your coins and make you an offer.
Popular Gold Coins
Gold coins remain a popular investment for many in the United States. While there are many gold coins from which to choose, some attract buyers and sellers. Factors behind the most popular gold coins include:
- Historical Significance: If a coin is considered a historical object or artifact, its academic and societal value often transcends its material worth.
- Craftsmanship: A coin’s desirability can increase based on its intricacy or the quality of its creation, which represents the skill and labor required to produce it.
- Uniqueness: A coin’s collectible and artistic value can be incredibly high if the design is limited, the piece is rare, or if it’s a misprint or other unusual coin.
- Quality and Purity: A coin’s material value typically increases with the amount and quality of its gold content.
- Investment and Trading Value: Some coins are particularly sought after due to their ease of trade and acquisition for investment purposes.
These are some of the most popular gold coins that are bought and sold:
United States Saint-Gaudens Double Eagle
The $20 Saint-Gaudens double eagle4 was produced from 1907 to 1933. It is widely considered the most beautiful gold coin ever made. The obverse shows Lady Liberty with a torch in her right hand, and in the left is an olive branch. The reverse has an eagle flying over the sun. It is named for its designer, Augustus Saint-Gaudens (1848-1907).
The United States American Gold Eagle
The American Gold Eagle5 coin was minted in 1986. Its popularity made it one of the most prized collectibles. There are four denominations of American Eagle coins: 1/10 oz ($5), 1/4 oz ($10), 1/2 oz ($25), and 1 oz ($50). The coin’s obverse is similar to the Saint-Gaudens double eagle design, with its rendition of Lady Liberty. The reverse shows an eagle flying over a nest (1986-2020) or an eagle’s head in profile (2021-present).
United States Indian Head Eagle
The Indian Head Eagle6 is a spectacular coin featuring Augustus Saint-Gaudens’s unique designs. It was produced from 1907 to 1933, but production was sporadic after 1916. The coin has a $10 face value and features a profile view of the goddess Liberty wearing a headdress (obverse) and an eagle on an olive branch (reverse). These coins were melted in great quantities in the late ’30s, making certain years relatively scarce.
Canadian Gold Maple Leaf
The Canadian Gold Maple Leaf7 was first minted in 1979. A profile of Queen Elizabeth II is on the obverse, and the Canadian Maple Leaf is on the reverse.
Gold Maple Leafs were minted with .999% purity, but that changed in November 1982. Since then, the Royal Canadian Mint has produced the coin at .9999% purity. Some special edition releases were minted with a “five nine” purity (.99999%). The Big Maple Leaf (BML) of 2007 was one of those special editions. Only six were produced, making it a very rare coin. The face value is $1 million.
The early Gold Maple Leafs were issued only in 1 oz denominations, but the range of options has since been expanded to include 1/2 oz, 1/4 oz, 1/10 oz, 1/20 oz, and 1 gram coins.
South African Krugerrand
The Krugerrand8 has been synonymous with wealth and prestige since its release in July 1967. It is among the most desirable of the gold bullion coins. However, being associated with South Africa’s apartheid government resulted in it being impacted by sanctions, which restricted access to the coin. In 1985, it was banned from being imported into the United States. After apartheid ended in 1991, Krugerrand collecting exploded.
The Krugerrand was named after South African president Paul Kruger (1825–1904). The South African Mint produced it and limited-edition variations for collectors. A special 50th anniversary Krugerrand was released in 2017 in platinum, silver, and gold.
The obverse of the Krugerrand shows the bearded Kruger in profile, while an antelope is on the reverse.
Vienna Philharmonic
Easily among the most popular European bullion coins, the Vienna Philharmonic9 was first minted in 1989 to honor the world-famous orchestra of the same name. Globally, it was the best-selling gold coin in 1992, 1995, 1996, and 2000. It is still in demand among collectors. The Musikverein Pipe Organ is on the obverse, and other musical instruments are on the reverse.
The Vienna Philharmonic has a 99.99% pure gold version, a 99.95% platinum version, and a 99.9% silver version. The silver coin was introduced in 2008, and the platinum in 2016.
The Gold Philharmonic can be found in 1⁄25 ozt, 1⁄10 ozt, 1⁄4 ozt, 1⁄2 ozt, and 1 ozt versions.
Australian Gold Nugget
Beginning in 1986, the Perth Mint produced the Australian Gold Nugget10 in several denominations: 1⁄20 oz, 1⁄10 oz, 1⁄4 oz, 1⁄2 oz, 1 oz, 2 oz, 10 oz, and 1 kg—the last few named in this sequence are among the largest gold coins in the world.
The design of this coin undergoes an annual update. Between 1986 and 1988, the reverse design showcased the gold nuggets that gave the coin its name. Since then, the coin’s reverse has portrayed various kangaroo designs, leading to its common reference as the Australian Gold Kangaroo. The obverse consistently presents a profile view of Queen Elizabeth II.
In 2011, the Perth Mint manufactured an exceptional version of this coin to commemorate Queen Elizabeth’s visit to Australia. Weighing ten times more than the Big Maple Leaf, the 1000kg coin is the world’s largest, with a value surpassing $53 million (AUS).
While these gold coins are popular with collectors and investors, it’s important to realize that gold coins that are not mentioned above might still be valuable. No matter what, gold coins are always worth their melt value.
Gold American Buffalo
The American Gold Buffalo, a 24K gold coin with 0.999 fineness and a size of 1 troy oz, holds the distinction of being the first of its kind in the U.S. Launched in 2006, this coin is renowned for its exquisite artwork by American sculptor James Earle Fraser. Its design, reminiscent of a 1913 buffalo nickel, features a buffalo image on the reverse, inspired by a buffalo that resided in the Central Park Zoo in the 1910s.
Gold British Britannia
The Royal Mint in Great Britain introduced the Gold British Britannia in 1987. Admired for its sophisticated design and high fineness, the coin’s obverse varies, featuring different British monarchs according to the year it was minted. The reverse showcases Britannia, a symbolic representation of Britain. Although primarily minted in a 1 troy oz size, other sizes such as 1/2, 1/4, and 1/10 oz have also been produced.
Chinese Gold Panda
The Chinese Gold Panda, introduced in 1982, is a highly sought-after coin made from 0.999 fine gold. The coin’s design changes annually, except for 2001 and 2002, which shared the same design. The reverse design always includes at least one panda. The Chinese Gold Panda coins were initially measured in troy ounces, but since 2016, they’ve been measured in metric units (grams) to align with China’s metric system. The coins are now issued in sizes of 1 gram, 3 grams, 8 grams, 15 grams, and 30 grams.
Australian Gold Kangaroo
The Australian Gold Kangaroo, originally launched as the Australian Gold Nugget in 1986 by the Perth Mint, underwent a design change in 1990 to feature a kangaroo. The reverse image, which changes annually, always includes at least one kangaroo, while the obverse maintains a portrait of Queen Elizabeth II. It is also legal tender and recognized as one of the most valuable coins currently available. The Gold Kangaroo is available in 1 kilogram, 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz.
Austrian Gold Philharmonic
Introduced in 1989 as legal tender worth 2000 Schillings (equivalent to 100 Euros today), the Austrian Gold Philharmonic is a 0.999 fine gold coin. Its design, influenced by the Vienna Philharmonic orchestra, features a beautiful pipe organ on the obverse and an assortment of other instruments on the reverse.
As one of the best-selling coins globally, it is available in sizes of 1/25 oz, 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz, with the 1/25 oz introduced in 2014.
While some of these coins are not minted in the United States, they are frequently traded. Each of these coins, produced by their respective national mints, boasts distinct designs on their obverse and reverse.
FAQs About Selling Gold Coins
Is it safe to sell gold coins online?
Selling gold coins online is safe as long as the business is reputable. Companies like Cash for Silver USA can often provide more competitive prices than physical stores as they don’t have the overhead costs of a retail location. They also offer industry-leading service and a secure, efficient experience. The safety of our transactions has been well-established, and we provide support throughout the process.
How much will I get if I sell my gold coins?
Our process begins with the provision of a free Appraisal Kit. We send you a mailer for the submission of your coins. Upon receiving your gold coins and any other precious materials, our certified evaluators assess the weight and purity of the coins. Our offer, presented to you within 24 hours, is based on the current gold price. The amount you receive for your gold coins will thus depend on weight and purity.
Which gold coin is the most famous?
The South African Krugerrand is the most renowned gold coin. It was the first gold bullion coin produced in modern times (1967) and remained the best-seller for over a decade. Despite losing some market share over time, it is still very popular and recognized for its historical significance.
Which gold coin is traded the most often?
The Gold American Eagle is the most frequently traded gold coin in the U.S. and globally. Other commonly traded coins include the Gold Buffalo, the South African Krugerrand, the Canadian Gold Maple Leaf, and the Chinese Gold Panda.11
What are the most popular gold coins in the U.S.?
The American Eagle is the most prevalent gold coin in the United States. As the primary gold bullion program from the U.S. Mint, it saw over 1.5 million 1-oz coins sold in May 2023 alone.1
Are gold coins a good investment?
Gold investing, as a physical, tangible asset, provides a unique way to diversify your portfolio. Gold is seen as a safeguard against inflation and other economic fluctuations. Even if other currencies lose their value, gold retains its material worth.
Why should I sell my gold coins?
Here are reasons why you might sell gold coins:
- When gold prices are high (check Kitco12)
- You need cash now
- You want to diversify your investments
- Reduced interest in coin collecting
What is the best time to sell gold coins?
The best time to sell is when gold prices are at high levels versus historic values. For example, one could research the historical data chart for real (inflation-adjusted) gold prices per ounce to gauge the data. However, it is difficult to predict the gold market, making it hard to recommend the best time to sell gold coins.
Sources:
1. American Numismatic Association – Mintmarks on U.S. Coins, https://blog.money.org/coin-collecting/mintmarks-on-united-states-coins. Retrieved Jan. 9, 2024
2. American Numismatic Association – Official Coin Grading Standards, https://www.money.org/official-grading-standards. Retrieved Jan. 9, 2024
3. Bullion By Post – How Much is a Gold Coin Worth? https://www.bullionbypost.com/index/collectible-coins/how-much-is-a-gold-coin-worth. Retrieved Jan. 9, 2024
4. Wikipedia – Saint-Gaudens double eagle, https://en.wikipedia.org/wiki/Saint-Gaudens_double_eagle. Retrieved Jan. 9, 2024
5. Wikipedia – American Gold Eagle, https://en.wikipedia.org/wiki/American_Gold_Eagle. Retrieved Jan. 9, 2024
6. Wikipedia – Indian Head eagle, https://en.wikipedia.org/wiki/Indian_Head_eagle. Retrieved Jan. 9, 2024
7. Wikipedia – Canadian Gold Maple Leaf, https://en.wikipedia.org/wiki/Canadian_Gold_Maple_Leaf. Retrieved Jan. 9, 2024
8. Wikipedia – Krugerrand, https://en.wikipedia.org/wiki/Krugerrand. Retrieved Jan. 9, 2024
9. Wikipedia – Vienna Philharmonic (coin), https://en.wikipedia.org/wiki/Vienna_Philharmonic_(coin). Retrieved Jan. 9, 2024
10. Wikipedia – Australian Gold Nugget, https://en.wikipedia.org/wiki/Australian_Gold_Nugget. Retrieved Jan. 9, 2024
11. CBS News – 5 top gold coins for investment purposes, https://www.cbsnews.com/news/top-gold-coins-for-investment. Retrieved Jan. 9, 2024
12. Kitco – Precious Metals/Gold, https://www.kitco.com/price/precious-metals/gold. Retrieved Jan. 9, 2024
ABOUT CASH FOR SILVER USA
Cash for Silver USA is a prominent online buyer of silver, gold, platinum, and palladium in the United States. Since 2005, we have paid tens of millions to tens thousands of customers for their unwanted or broken precious metal jewelry. We offer a quick and straightforward selling process, ensuring customers receive prompt and competitive offers for their items. Learn more about us or request your free Appraisal Kit now: