Goldbugs! Can you give me advice?

[EstimatedProphet]

I have a small amount (~$3500) in gold bullion coins, which I am considering selling so that I can finance my upcoming wedding. I'm thinking now is a good time, because gold is pretty high right now. Has anyone out there sold gold before? Does anyone know of a good merchant to go through, so I don't lose it all to their fees?

Posted this in the Lounge, with no response...

[Maple]

1. Saw this before

but couldn't help you.

In Canada, I'd just go to a bank

I don't know what you'd do in the US.

[EstimatedProphet]

2. Fair enough

Thanks anyway

[amazona]

3. oh lord haven't sold gold in years but have you asked at the coin shop

There used to be a local coin shop in my area where gold was bought and sold but in the U.S. there are reporting requirements now and I'm sure the fees are higher than they used to be. Can you ask in your local banking community what other people with gold coins do? I got so disgusted I had one of my American Eagles made into a pendant!!! If you need the cash, not really an option, is it?

[EstimatedProphet]

4. Banks

Good idea, thanks

[silverlib]

5. Got this link from another DUer about one month ago

http://www.tulving.com/

Take a look at this site. I can't recommend it because I haven't used it yet, but it came highly recommended by another DUer who had used it. Do a search on the link name and you can probably come up with a reference.

I'm looking at buying some silver so I bookmarked it.

[donco6]

6. Find a reputable coin shop

There are many listed on the Internet. I've dealt with several here in Denver and have found them to be honest. Do some research on your coins.

Many people think buying gold means buying coins, but they couldn't be more wrong. The value of a coin is the coin itself - the gold simply adds value. You have to know standards for quality of the coin, types of wear, quality of the gold, production, etc, to truly handle a sale and get the most out of it. But if you need the cash, ask around for a good coin store and bring your stash.

[wishlist]

7. There are reputable dealers, coin auctions and Ebay too

I have used reputable dealers, coin auctions (but only with a specific auctioneer that I trust) as well as Ebay. You can always take your items to several different established dealers in your area and go with the one who offers you the most. I have sold most of my loose, odd and ungraded coins through a coin auction and done quite well but it was an auctioneer I have dealt with a lot and trust implicitly so in your case going the route of checking with about 2 or 3 reputable dealers would probably be the quickest and best way. Bullion and U.S. Gold Eagles also seem to consistently sell well and get market value on Ebay too.

[happynewyear]

8. www.kitco.com

They buy gold coins I have noticed.

I have never dealt with them personally, but I have some small holdings in gold coins myself. I wouldn't give them up for anything btw ... :D

I like gold, in fact A LOT! :dem:

:kick: