2007-12-27 09:46:54 · 4 answers · asked by Mark H 1 in Business & Finance ➔ Other - Business & Finance
No. The bank is not the right place to go to sell a gold coin. They will either refuse the item or will simply give you face value.
You need to contact, ideally, a reputable dealer in gold bullion (key word being REPUTABLE). In other words, do your research and don't use one of the late night "informercial" buyers of gold bullion.
One reputable site that I'm aware of is located at www.blanchardonline.com though there are many out there.
Generally, a local dealer should pay you the current "spot price" of gold less 10% unless you are dealing with a unique or very old (and good condition) or a proof coin. In that case, there would be a collectible premium.
Hope this helps!!
2007-12-27 09:58:34 · answer #1 · answered by Joe 3 · 1⤊ 0⤋
No a bank is not the place to go. Where are you located and what kind of coins and years do you have as I might be interested in them and yes will give you fair market value write to bankerbobretired@yahoo.com hope to hear from you soon.
2007-12-27 10:38:49 · answer #2 · answered by Robert N 2 · 0⤊ 0⤋
no, banks only pay face vaue, you need a coin shop or a serious collector to buy them for the actuall value. I recomend getting them appraised first, that way you know where you stand and don't get ripped off.
2007-12-27 09:54:53 · answer #3 · answered by randy 7 · 1⤊ 0⤋
bank will give you face value. You'll need to go to a coin store.
2007-12-27 09:51:51 · answer #4 · answered by Tim 7 · 0⤊ 0⤋