If you have invested in gold by buying gold coins you may wonder how much could you make by selling gold coins back. If you want to know how to evaluate the price of gold coins and how much could you get from them continue reading this article.

Before selling the gold coins you must take a few steps. The first one is determining the gold percentage in the coins. Since gold is a very soft metal it must be combined with other metal that will make it more durable and stronger. Usually the gold coins available on the market for sale have a gold composition starting from 40% to 99%. The second step is to determine the weight of your coins.

Next comes the challenging part – selling the coins. You can sell them directly to another person or to gold bullion dealers. The last ones will have two different prices: “bid” and “ask”. “Bid” refers to the price they are willing to pay for your gold while “ask” refers to the price they are willing to sell their gold. Usually the gap between ask and bid is up to 4%.

If you want to be sure that the price offered by coin bullion dealers is fair you could check the “spot price”, the price of gold on the futures market. Of course this is only a simple estimation because on gold futures market they purchase and sell hundreds of ounces daily. Even so, you will have a good starting price.

When the dealer will tell you his “ask” price, compare it with his “bid” price. The difference between ask and bid price determines his discount. If the discount is really big then you have a bad deal, if the discount is low then it is in your advantage to sell the gold to him.