Who Wants Cheap Gold Coins?
January 10, 2010 - Who wants cheap gold coins? On the surface, it seems like everyone would want cheap coins. Buy them cheap and sell them for a big profit…but there is one problem with that statement. Since the price of gold is fixed, the only way to define “cheap gold coins” would be coins that have poor quality, and nobody wants to pay big bucks for those!
One of the most expensive coins ever sold was an 1804 dollar that brought $4 million at an auction. This coin is very rare and in very good condition. If another one was found that was damaged and worn, it wouldn’t be worth anywhere near $4 million, hence, it would be a cheap coin.
The danger with coins like our hypothetical is their true value; this is the reason that rare coins are independently certified. In order to know if you are getting a coin at fair market value, it is crucial to know what it is worth. Thinking that a coin is in uncirculated condition when it would only score 45 out of 70 on the Sheldon Scale can mean you get burned when you try to sell it down the road. Certification is the only way to guarantee that you don’t get stuck with a cheap gold coin.
For this reason, working with a company that specializes in certified coins is a must. A mistake of a couple of points on the scale can mean the difference of $215,000 and $35,000, as in the case of a high relief 1907 Double American Eagle if it drops from a 67 grade to a 65. Dealing with a company like gold-coin.com can help you avoid making the mistake of buying a cheap gold coin. Gold-coin.com is part of the Certified Gold Exchange and its specialists are skilled at helping customers get fair prices on the coins they want.
Stewart Lawson
Senior Staff Writer - Gold-Coin.com
