The South African gold Krugerrand is one of the most collectible coins. In fact, no coin collection is complete without some of these valuable and durable gold coins. But selling Krugerrands requires a bit of research to ensure you make a satisfying profit. The key to successfully selling Krugerrands and getting the most value from them is knowing how the gold market is doing. The price of Krugerrands is directly related to the current market price of gold. You can find the current price of gold by doing a web search for “gold spot price.” The second half of the Krugerrand’s value is a premium, which is charged for shipping, handling and minting. You can see what that is by taking the price of the currently listed Krugerrands and then subtracting the spot price.
Those sellers who have studied the gold market will be able to recognize a good price. Even more important, they will also recognize a bad one. With the popularity of eBay, many people choose to sell their gold Krugerrands through the online auction house. This is a fairly simple process. But it requires some patience. You will have to wait for offers, for example. And often those offers will be lower than what you’re looking for. To speed up the process and attract the best online buyers, be sure to upload a photo of your gold Krugerrands. This will allow eBay visitors to see that you offer a quality collection. You’ll find that the deals add up much faster when you include photos in your listing.
The most traditional way to sell Krugerrands, and the way preferred by most, is to deal directly with a reputable coin dealer. The key here is to only work with ethical distributors. The best way to find reputable dealers is to log on to the US Mint home page. From here, you can access the Mint dealer locator page. So it’s a simple process to select your own state and get a list of reputable coin dealers in your area.
Once you have a list of dealers, visit as many as you can. Most dealers will rely on the current market price of gold when quoting you a selling price. But there may be some fluctuations. If you are patient enough and willing to do the necessary legwork, you will certainly find a dealer who will offer you a fair price for your gold Krugerrands. Most dealers will, of course, want to verify the authenticity of their gold Krugerrands. Please factor this short delay into your selling plans. South African Krugerrands never go out of style with serious coin collectors. That’s good news if you’re trying to sell them. Remember, however, to trust your common sense. If an offer, whether from a dealer or an online bidder, seems too low, you have the right to withdraw. You never know: a much better deal may soon be on the way.