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.

Related posts:

  1. Investment or insurance? Defining the difference for today’s precious metals buyers
  2. Getting started with coin collecting: discover a fun and educational hobby for the New Year
  3. Commodities versus collectibles: a precious metals buying guide
  4. Buying precious metals: a beginner guide
  5. Talking cars: the latest in car accident prevention

Short URL: http://www.lajollalight.com/?p=57983

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.

Leave a Reply

La Jolla Community Calendar

Facebook

Bottom Buttons 1

Bottom Buttons 2

Bottom Buttons 3

Bottom Buttons 4

Bottom Buttons 5

Bottom Buttons 6

RSS North Coastal News

  • Del Mar couple to present program about Bhutan at Solana Beach Library September 1, 2014
    Join cultural anthropologist and photographer Roger Harmon and his wife, Nancy, at 6:30 p.m. Tuesday, Sept. 9, in the Solana Beach Library for a free presentation of their travels to Bhutan through slides and artifacts. […]
  • Carmel Valley Boy Scouts climb Mount Whitney September 1, 2014
    Several boys from Boy Scout Troop 765 (Carmel Valley) made the climb to the tallest peak in the contiguous 48 states this summer. They spent the summer hiking the tallest peaks of Southern California, preparing for their hike of Mount Whitney. These peaks included Mount Baldy, Mount San Jacinto, and Mount San Gorgonio. The boys made the 22-mile round-trip tr […]
  • Multimillion-dollar renovation complete at Hilton San Diego Del Mar September 1, 2014
    Hilton San Diego Del Mar announces the completion of its multimillion-dollar renovation. Funded by Wheelock Street Capital and Sage Hospitality, the hotel’s completed renovation includes the lobby, business center, fitness center, restaurant, meeting spaces and all 257 guest rooms. “This renovation has truly transformed the Hilton San Diego Del Mar property, […]