Scrap gold jewelry vs. gold coins: how to get the best gold prices

The Coin Shop | Michael McConnell

There are significant differences in both gold content and value between most scrap gold and gold coins.

By Michael McConnell

In the current economic climate, many people in possession of scrap gold jewelry and gold coins are looking for ways to get the best gold prices and convert unused precious metals into ready cash. And while there are plenty of websites and buyers ready and willing to pay quickly for all forms of gold, it is important for sellers to understand the difference between scrap and collectible or gold bullion products – as well as the significant variation in purchase price that comes with approaching the right buyer in the first place. By consulting an experienced rare coins dealer and familiarizing one’s self with the difference in gold content and selling format between gold jewelry and gold coins, sellers can learn how to make the greatest possible profit and avoid losses at the hands of misleading buyers.

When deciding where and how to sell old gold coins and scrap jewelry, one of the first things to consider is how the items will be used or resold by the buyer. For example, scrap jewelry is almost always melted down for consolidation or re-use, while gold coins are frequently resold in their existing form to rare coins collectors or bullion buyers interested in the value of the item itself in addition to its gold content. This means that scrap gold will almost always bring a lower price than gold coins — especially in light of the fact that coins also tend to have a higher gold content than most scrap pieces. For instance, a 14kt jewelry item has a gold content of 0.585 fine, whereas most coins have a gold content of 0.900 or higher. Between their gold content value and present-form resale value, coins are a superior asset to those looking to cash in on gold: but in order to get the best price, it is important to sell those coins to a precious metals dealer like those at The Coin Shop in La Jolla.

Find honest, experienced precious metals buyers at The Coin Shop in La Jolla

It’s not difficult to find buyers willing to pay cash on the spot for gold coins; but here at The Coin Shop, we understand both the gold value and numismatic value of collectible gold coins – and we can pay more than other buyers because we re-sell the coins in their present form. With years of experience and extensive knowledge of gold, silver and other precious metals and coins, our San Diego coin dealers can ensure the best possible price for your gold – as well as a pleasant experience.

Located on Girard Avenue in charming La Jolla, The Coin Shop is a historic landmark that combines local character and contemporary convenience for rare coin collectors, new buyers and sellers alike. Visit our shop to learn more, of check out our blog online: www.sandiegocoinblog.com.

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  3. Commodities versus collectibles: a precious metals buying guide
  4. Buying precious metals: a beginner guide
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Posted by Social Media Staff on Jan 27, 2012. Filed under Columns, Michael McConnell, Sponsored Columns. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

2 Comments for “Scrap gold jewelry vs. gold coins: how to get the best gold prices”

  1. Muhammad Ismail

    Increasing Prices of Gold in the international market is amazing which is beyond the approach of a common man. Developing countries having less storage of gold as compared to developed countries.

  2. John

    Before I sold my gold online I used a review site called http://top10bestgoldsites.com Its better to use review sites before selling your gold online to make sure you get the most money for your gold and also so you know if the site is legit or not. This way you avoid scams.

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