What would you do with a gold coin?

[cntrydncr1]

My sister was given a new 1 oz gold coin by a friend and told to use it to fly where ever she wants to go...of course she will use it to visit that friend in Germany. Boy do I wish I had a friend like that!

Anyway...she will watch gold prices....but when she is ready...who should she sell it to in order to get the most for it

 

[Jeffro]

There really isn't a good answer to that question without sounding like a smartass.... heheheh! Answer is "whoever pays the most".

Try coin shops, pawn shops, people at work, friends, etc. until she gets the best price. She ought to be able to find one source who will pay spot. Coin shops will probably pay pretty close, but not quite. And a pawn shop, probably a lot less. Depends on how quick she wants the cash.

 

[dahut]

Also check with online dealers and buyers. They dont have the overhead so may be closer to current spot value.
Anyway you go, you will have a hard time getting spot price for minted coin. But you can get close.

What I would do is buy my OWN ticket and put the coin where it belongs - in my collection.

 

[sniffer]

I've got a 5 dollar gold piece, and it's going to stay in my possession.

 

[Square Nail]

When you buy a troy ounce coin you will pay more than the quoted spot price, and when you sell you will receive less than spot. When gold was $380 I paid $395, when gold got over $800 the first time I sold it, and he actually paid me right at spot for it. If you don't have a dealer handy, check out ebay. Also google "Live Market Quotes." That will give you the spot price.