Selling gold coins can be an excellent way to make some extra money. Depending on whom you sell to and the state of the gold market, your potential payout can increase. To get the best return on your investment, you should seek out gold appraisals on your coins.

Here is what you can expect from the appraisal process:

Free Gold Appraisals

If you are interested in selling gold coins, consider finding a place that offers free gold appraisals. During the appraisal, an expert gold buyer will examine your items to determine their worth.  

Finding The Right Appraiser

Keep in mind, however, that not all free gold appraisals are of the same quality. Look for an appraiser with experience and specified knowledge in this area. For example, if you find an appraiser that only has experience with diamonds and not gold, they may not be able to provide the most accurate quote. 

Coin Identification

The coin identification process will help you determine the rarity of your coin. Many factors go into determining a coin's rarity, including misprints, demand, and historical significance. With few exceptions, the rarer the coin, the greater its value. 

Coin Authenticity

Once your coins are identified, the next step in gold appraisals will be determining their authenticity. What you may have been led to believe could be a historically significant gold coin may in fact be a fake replica. An appraiser will help you make sure that your gold coin is authentic so that you can pursue the sale process with accurate expectations.

Coin Grading

Like diamond and gem grading, coin grading determines the condition of your coin and how it relates to its approximate value. For example, a common coin in unusually excellent condition may retain significant value. 

Precious Metal Prices

Gold appraisals may reveal that an otherwise unimpressive gold coin has significant worth because its materials have a high percentage of gold or other precious metals.  However, be sure to remember that the estimated value of the materials of your coin isn't necessarily permanent. The market value of precious metals can fluctuate, so if gold appraisals reveal a current low value for your coin, you can always hold on to them to have them re-assessed later. 

As you can see from the criteria above, gold appraisals are shaped by many factors. If you have questions about the gold selling process, visit Ralph Mueller & Associates or call 480.949.9229.