Do you have gold bullion coins you bought as an investment or have inherited? If you would like to sell there are a few things you need to know.

You need to investigate all the options that are open to you and make sure you deal with a reputable and legitimate companies. A lot of people often get less than what they deserve for their bullion coins because they don’t know enough about the market or take enough time to find the right buyer. Not all gold coins are bullion coins. Bullion coins are made with the purest quality of gold and are minted by government mints. Some of the most popular gold bullion coins are: The Canadian Maple Leaf minted by the Royal Canadian Mint, the Gold Eagle minted by the US Mint, the Krugerrand produced by South African Mint and that Australian Kangaroo made by the Perth Mint. They are bought more for their investment value and not their collectability like other numismatic gold coins.

You should never try to sell gold bullion coins until you have a firm grasp of what they are valued at.

When you have an idea of their value then you can worry about where or how to sell your gold bullion coins. There are some important do’s and don’ts when it comes to this step:

  1. Do plan ahead

If you have decided to sell gold bullion coins, plan ahead instead of leaving things until the last minute. The price of gold can be volatile. It could spike in a short time you need to be ready when that spike happens. So, it is always a good idea to keep your gold coins in the best condition possible so that you are ready to take advantage of short-term market upheavals.

  1. Don’t allow yourself to be forced to make a sale

The bullion buying industry is competitive and coin dealers can be sharks sometimes. They can smell desperation from afar and if they can, they will take advantage of it. You should never rush a sale of a bullion coin. Forced sales can cause you to lose as much as 30% of what your coins are really worth.

Give yourself more than just a couple of days if you want to get the most for an individual coin. Take your time to clean your coins, prepare them and market them to as many buyers and collectors as you can.

  1. Do find a trusted gold buyer or Bullion dealer.

When you buy gold coins, you should get a Certificate of Authenticity. Having a document like this comes in handy when you have to sell. Most buyers will pay more for gold coins that have been authenticated and come with all the necessary documentation. When you sell gold bullion coins, the best place to start is the dealer you bought them from. A lot of dealers have a buy-back policy and in most cases, such dealers offer more for gold bullion they themselves sold. The advantage of doing this is that you will have first-hand knowledge and the process is much faster.

A gold dealer may offer less than an individual buyer because, the dealer has to consider how he or she is going to sell the gold on and what profit he can make. An individual buyer on the other hand will buy gold bullion to save on paying a premium from a gold bullion dealer.