Blog Selling Gold to Buy Gold Coins
gold coins and bars and bullion

Selling Gold to Buy Gold Coins

Sell Your Gold for Gold Coins?

Gold coins aren’t just for pirates. As the demand for gold has soared over the past couple of months, the price has reached all-time highs ($2,350 per troy ounce as of May 2024).

While gold bullion has seen a recent resurgence in popularity, it’s been a reliable investment asset for millennia, especially as a hedge against inflation. Gold tends to maintain its value amidst times of economic uncertainty for several reasons, including its use as a universal currency, supply constraints, investor behavior and more. But as with any investment, precious metals have their risks.

So, is investing in gold right for you? This will ultimately depend on your risk tolerance, financial goals, and individual preferences. Some people find an element of comfort in tangible stores of wealth. If this sounds like you, then a tried and true safe-haven asset like gold may bring you peace of mind. Personal interests play a role as well – are you attracted to gold bullion from an investment standpoint, or more so from a coin collector’s perspective?

A Balanced Gold Portfolio

Gold can help to balance your portfolio if you’re looking for a way to preserve wealth. While other assets such as stocks, real estate, and even some forms of cryptocurrency may offer stronger potential for growth, gold is a reliable inflation hedge that’s been trusted for centuries.

Gold bar bullion produced by Argor-Heraeus SA in Switzerland

While gold shouldn’t be the primary component of an investment portfolio, it can provide comfort and stability through times of uncertainty. Amidst rising geopolitical tensions, economic turbulence and the climate crisis, many people are once again looking to gold. However, as with any commodity, gold is still subject to market volatility.

Gold bullion and coinage make up a significant portion of the heavily traded commodities market. This means that they’re subject to price swings contingent upon global mining, minting, and trading activity. These swings can be dramatic, which is why gold coins should be one component as part of a balanced portfolio. As with any other investment vehicle, gold coins should be steadily purchased over time (dollar cost averaging). This is the best way to avoid going “all in” at the top, and risking a painful ride down if and when prices drop.

Gold Collector Coins

Gold bullion and collector-grade coins are available in a variety of options. Though gold coins have stylistic nuances from country to country, any given 1-ounce gold coin is equivalent to another 1-ounce gold coin in terms of precious metal value. Bu for numismatists and collectors, design aesthetics will also play a role in choosing which coins to buy.

Bullion coins trade at a daily market spot price (often with a seller’s premium), rather than at face value. When traded, they must adhere to generally recognized purity standards. Gold coins will always have an inherent precious metal value, with a potential premium on top of that, depending on how rare or special the coin is from a numismatic perspective.

An array of different gold coin bullion from around the world

Choosing a Trustworthy Vendor

In today’s world with more online bullion buying options than ever, it’s important to be careful and make sure that you’re dealing with a reputable vendor. Because all gold coins have an inherent precious metal value, bargain shopping and blowout sales are not part of the gold coin trading equation. Be wary of coin dealers touting huge discounts, because there’s a good chance it’s too good to be true. An ideal gold coin vendor will demonstrate significant experience in the industry (like Garfield Refining’s 132 years in business, for example), a repertoire of positive reviews, and top-notch customer service.

Refining Gold to Buy Gold Coins

If have unwanted gold, silver or platinum jewelry, or even dental material, selling it to a refinery like Garfield is a great way to generate some extra cash that could be put towards gold coins or bars. You can always purchase bullion outright from us without refining any precious metals. But if you do have precious metals to refine, we also offer bullion exchange as a payment option. You can take bullion in full or partial payment for your scrap. While buying gold coins may or may not be the right call for you, selling precious metal scrap is never a bad idea!

Looking to sell your unwanted precious metals or buy bullion? Download a free shipping label today to start refining, or browse our bullion coin and bar products!

Established in 1892, Garfield will get you the most for your gold, silver, platinum, and palladium, and we offer the industry’s best customer service. Call us today at 800-523-0968 to find out why Garfield is a premier precious metals refinery!