Carmel Stamp & Coin Shop
MISSION St & 8 St / P O Box 3366, Carmel By The Sea, CA 93921(831) 624-3951
Should You Or Should You Not Sell Gold Coins?
It's a question that many often have to ask themselves. Even if they love their collections, sometimes money becomes so tight that they have no choice but to sell some of their prized possessions. Coins of all metals come into play here.
But should you or should you not sell gold coins? Is it better to hold on to them now to see if they will earn you more later? Or should you sell now, just in case the price goes down?
It's a lot like the stock market. Scarily so, sometimes! Deciding when to buy and when to sell has a lot of the same repercussions as playing the stock market game. Yet what you have on your side is that gold lasts forever and has always been assigned a high level of wealth by us humans. Even thousands of years ago we were starting wars over gold. It's doubtful we'll be starting fights thousands of years from now over certain stocks.
Selling is a good idea if you're pretty sure your coins are worth thousands of dollars, and even more worth it if you need that money a lot. Medical expenses, taxes, a new car... whatever you reason for selling, if you think it's time, then it's time!
Reasons to hold on to your coins include using them as heirlooms for future generations, or because you have reason to believe the price will continue to go up. Other people keep them because they enjoy looking at them. Regardless, if you hang on to your coins, there is no harm in having them appraised, especially if you are passing them on to someone else after you die. While prices will continue to change, having your collection graded by an expert will help out a lot.