Good Time to Sell Gold?

Updated on January 05, 2011
J.D. asks from Grapevine, TX
8 answers

I've seen some of the old Q&A posts about where to do this...but IS this a good time to sell Gold? I'm but considering cashing in on a 1976 Kruggerand and want top dollar. Thought my Mamapedia friends might know. Thanks!

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S.L.

answers from Dallas on

Here's the information that you could use...
http://www.goldprice.org/
This site tells you the prices of gold and if it is going up or down.
And on the same site they have a specific page for the Krugerrand coin...
http://www.goldprice.org/gold-prices/1003-Gold-Coins/1003...
And last they have what the prices of gold are on ebay...
http://www.goldprice.org/ebay-gold-prices/

Hope this Helps!

3 moms found this helpful
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C.T.

answers from San Antonio on

Gold prices (much like cooper) can change daily, I know for a FACT that copper prices are going up in April, I would wait a couple of days until April. And do some research on the Coil dealer you sell it to. Depending on how popular this coin is will have a great impact on your payout.

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R.R.

answers from Los Angeles on

First you need to find out if the coin has intrinsic value. If the coin is in mint or gem condition, if it's a proof, etc. You might try taking it to a coin shop and seeing if you can find out any information about it. You can also find out online depending on how much you know about coins yourself. Be sure to check around to at least a few different coin dealers, know what the gold spot is for that day before you cash it in (www.kitco.com) and when you call around just say, how much under spot would you pay for a 1976 krugerrand in good (fair, gem etc.) condition? See who will give you the most. Any coin dealer is going to pay less than spot, that's how they make their money, but it shouldn't be too much less.

The price of gold will probably continue to go up, I might hold onto it if I were you. To get an idea of what gold has done in the past few years, look at the historical gold charts on the website above. You can also try selling it on eBay to get closer to spot. It's more of a seller's market than a coin shop is.

If the coin does turn out to be rare (it's probably not) you can have it certified by PCGS for a fee, and sealed in a plastic shell. This locks in the value and protects the coin should you decide to keep it long term. They are also easier to sell this way as buyers are guaranteed of their authenticity and value.

This is definitely a good time to sell gold, it might get better though.

2 moms found this helpful

T.F.

answers from Dallas on

Gold pricing flucuates daily. It depends on what you have and the shape it is in for highest value.

We collect coins and we only deal with reputable numismatic and gold dealers. We've had good experiences with Dallas Gold and Silver.

My husband does watch the values but we have chosen to hold on to our things longer. Ours is not a major investment, less than $30,000 but we watch it closely and we are not afraid to sell if the time is right. It's all about timing!

Good luck.

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J.G.

answers from Dallas on

We went to Dallas Gold and Silver to sell our Kruggerand. They gave us the exact price that gold was at that moment. Happy with their service.

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M.K.

answers from Dallas on

This is a good time to sell. Gold prices are up. I would recommend Randy Stern. His number is ###-###-####. He gives better pricing than the "exchange" places around town and is a very nice guy.

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K.H.

answers from Dallas on

Just FYI, wanted to share this information. Do not send them to Cash 4 Gold. They are a huge rip off. My daughter had a few odd pieces & sent them in. They sent her a check for $16.95. She immediately called them & they did send her jewlery back. She then took it all to a pawn shop & got $150.00 for it which probably still wasn't enough but better that the other.
Good luck in finding a trusting buyer.

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M.H.

answers from Dallas on

It is a great time to sell gold with gold being at an all time high right now. I recommend www.dallasvalleygoldmine.com ###-###-####. They are a trusted buyer of precious metals with an office in Highland Park. They pay more than the pawn shops and jewelry stores because they only deal in precious metals.

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