Gold Coin Sales Increase as Price of Gold Rises
Rochester, NY (PRWEB) February 27, 2014 -- As the price of gold increases, so does the number of people selling their unwanted gold. Typically sold to jewelers or online cash for gold stores, this old gold is then melted down at a refinery and turned into something new.
The price these stores are willing to pay is closely tied to the price of gold.
Gold coins used to be an exception to this rule. Due to the collectable value of many gold coins, they were sold not as scrap gold, but as individual coins. With the rise in gold prices over the past several years, now most gold coins are worth more from their gold content than their collectible value.
"It's been a very strange shift in our collectible business," explained Nelson Hamwey of SellGoldCoins.org. "Our quotes used to be based on the rarity of coins, but now it's usually just based on the value of the gold."
At over $1330/ounce, it's not surprising that gold coins are worth quite a bit just based on their gold content.
Prices are determined on gold purity (24, 20, 18, 16, 12, or 10 karat gold) and weight. Using these and the current price of gold, gold buyers are able to pay cash for unwanted coins and jewelry alike.
John Kolokouris, President of ExpressGoldCash.com, explained, "We've seen an uptick in gold coin sales for sure. Now we offer more competitive prices than jewelers and collectable stores."
Examples of types of gold coins Express Gold Cash purchases can be found on the Express Gold Cash website.
For more information on determining the value of gold coins or selling them online, visit the Sell Gold Coins website at http://www.sellgoldcoins.org/how-to-sell-gold-coins/.
NelsonHamwey, Sell Gold Coins, http://www.sellgoldcoins.org, +1 5856173242, [email protected]
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