The economy is a fickle thing by its very nature. Today it is up, tomorrow it is down. One year we are in a recession, the next the economy is on the upswing. So a lot of people are attempting to turn to more stable ways to invest their money. This is where all those “we buy silver and gold” commercials you see on the TV come into play. But there are some important things to know before you start to sell coins of gold and silver to any old dealer.
Before you do anything as far as deciding to sell coins goes, you might want to check between your couch cushions for more money before you head out to the coin dealers. That is because approximately ten billion dollars in loose change is sitting between the couch cushions of American households. So, really, before you sell coins, you might just want to go door to door asking your neighbors if you can search through their couch cushions.
Once you have searched your neighbor’s furniture for all it is worth and you still decide to sell coins, then you need to make sure you are on your guard when you head to the coin dealers. It is very easy to get ripped off when selling coins and gold. You should always have a clear idea of what you are selling before you go to a buyer. Do not go in blind, or you will get ripped off. Here is a small piece of information that should help you when you sell coins: gold transactions are generally measured in pennyweights. Twenty pennyweights (DWT) equal one troy ounce of gold.
When looking where to sell gold, you do not want to be dealing with any shady characters when making your gold transactions. When you decide to sell coins of gold or silver, you should always find a bonded buyer. This way you will know that you are getting the best deal.
While most people have only recently seen gold and silver buying dealers on the TV and internet, it is also worth noting that coin grading services in general are a relatively recent development in the industry. It was not until the 1980s that buyers and sellers decided that they needed a common measure for determining a coin’s value.
So when you decide to sell coins to make a few bucks on the side during this turbulent economy, make sure to keep this information in mind. Who knows, you might not even have to sell coins at all if you find enough loose change in your couch cushions. For more information, read this website: www.countrysidetrading.com