How to go about selling a krugerrand?

April 29, 2011 · Posted in Buying Krugerrand Coins · 2 Comments

Question by Ann: How to go about selling a krugerrand?
I received a krugerrand (a gold coin, weighing about 1 oz) as a gift a while back and would like to sell it for cash. I have never consigned or pawned anything in my life so I don't know where to begin. Will different buyers (i.e., jewelers, coin dealers, etc) low-ball me? Since the price of gold is so high right now, is there a chance that no one will buy it in fear they won't see a return in profit? How do I go about researching a valid coin dealer in my area? What should I look for in a dealer/buyer? Thanks.

Best answer:

Answer by Blazenskyy.com
Probably go to a coin dealer that sells it back to the mint or government and just make sure the date of the krugerrand is not special or has limited minting since sometimes special foreign coins are more valuable. It's great to sell especially since gold is at a high - your lock in a profit. Good luck!

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Tags: About, Krugerrand., Selling