gold spot price

wishiknew

I been told that if your selling gold coins it doesn’t matter which jeweller you go to they all will pay the spot price on that day

Also even if you have good condition coins its the same price as if they are damaged or circulated
Is that true

Thanks

[Deleted User]

wishiknew wrote: »

I been told that if your selling gold coins it doesn’t matter which jeweller you go to they all will pay the spot price on that day

Also even if you have good condition coins its the same price as if they are damaged or circulated
Is that true

Thanks

Jewellers pay the "scrap price" for gold coins/bars., regardless of condition. The prices are per gram. Check out this link to a well established london gold bullion dealer to see the prices for today..

http://www.goldline.co.uk/goldlinedev/GC/Global/GLHomeFrame.ghtml

Click on SCRAP PRICES on this web site.

Hope this helps :money:

Stonk

The scrap prices on that site work out at about an 8% discount from spot. I find it odd that they don't quote scrap prices for 24ct gold, which is what bullion bars and some bullion coins are.

I bought some fine condition gold bullion coins from ATS Bullion (https://www.atsbullion.com) a while ago, and at the time I worked out that their buy/sell spread was roughly 8.5% in total. I paid about 6% over spot to buy, and they were offering about 2.5% below spot to buy on the same day. So, if you have nice-condition coins, you will probably get a better price from ATS - most of the spread is on the buy side.