Selling youre gold coins might not be as easy as everyone thinks, there are lots of dealers but a lot of them only seem to be interested in buying back the coins they sold. The way a lot of them make there money is from the difference in the price fluctuations, which is called the spread. Here is a great article on one investors expierience
Bullion dealers, cash-for-gold outlets and hundreds of online companies selling gold coins and bars have sprung up in recent years as investors have looked to cash in on rising gold prices. You can now buy and sell bars on your mobile phone, and there are even vending machines dispensing ingots in shopping centres.
But how easy is it to cash in gains if you have invested in the precious metal? For many investors the attraction of gold is that it is a tangible asset. After the financial crisis many want to invest in a product which should hold its value should stock markets crash, banks collapse or if governments printing more money decreases the value of “paper” currencies.
But how easy is it to sell and realise the value of gold ingots, sovereigns or exotic coins such as the US Buffalo, the Chinese Panda or the Austrian Philharmonic?
After all, even if these real assets have risen in value, it is of limited use if you can’t derive an income from them, sell them at their current price or spend them.
One reader who contacted The Daily Telegraph said the sales process may not be as transparent as many people think. He bought a 1oz Britannia gold coin for £1,129 just over a year ago – as gold prices peaked. With prices falling, he decided to try to sell it.
You can read the full story over at the www.telegraph.co.uk