Selling gold coins has spiked since the price of gold first began to approach – and later top – $1,000 per troy ounce in early 2008. Many individuals who purchased gold coins at substantially lower gold prices have chosen to take advantage of today’s high gold prices and profit from selling gold coins. And, with economic uncertainty, the market for purchasing gold coins as a storehouse of value has also been brisk.
In today’s market, selling gold coins is less related to numismatic value and more about gold price. Unless a seller possesses a rare gold coin with value to a collector beyond its gold content, most gold coins are purchased for the amount of fine gold they contain. Most modern gold coins are marked with their fineness such as “.999” or “.9999” and by their fine gold content such as 1 ounce or ½ ounce. Coins marked as .999 and .9999 are 24K or pure gold coins. Examples of some commonly traded gold 24K gold coins are the Canadian Maple Leaf, Vienna Philharmonic and the American Buffalo. These coins come in the popular one-ounce denomination. Not all gold coins containing one ounce of gold are minted in 24 Karat. Coins like the US Gold Eagle and the South African Krugerrand, are minted in 22K gold. Yet the gold content itself of a 1 ounce Krugerrand or Eagle is equivalent to an ounce of 24 Karat gold. The reason some coins are minted in 22K versus 24K is 22 Karat gold is more durable. The one ounce 22K gold coins contain more than one ounce of 22K – and weigh more than one ounce – but contain exactly one ounce of 24 K. Remember, when selling gold coins (other than for numismatic value), the gold content and purity are what matters.
Selling gold coins to GoldFellow® is easy as it is based on the condition of the coin and its fine gold content. GoldFellow® encourages sellers to contact the company to discuss insurance options as the value of the gold coins may exceed the standard insurance limits.
http://en.wikipedia.org/wiki/Gold_coins – Gold Coins