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The gold industry has been profitable for centuries, all the way back to the American frontier period when classic bank robberies with horseback getaways would happen on occasion. There’s just something about the security and stability of this precious metal that has been valued by our ancestors all the way through to today. But with immediate access to more common and practical funding resources like paper bills and credit lines, how is gold still relevant? Gold coins in particular have gained popularity among investors and collectors alike, but how does one get into the trade?

The True Value of Gold Coins

At some point in the past, someone discovered the usefulness of gold and now it’s universally recognized as an incredibly valuable asset. But what about gold has everyone yearning for its stunning properties?

Why Gold?

Because the worth of gold can be measured by its physical properties and not just a predetermined value like a dollar bill, it’s not as affected by financial factors like the stock market. Gold is an item before it’s a currency, and that’s why while inflation will cause the value of legal tender to decrease, the value of gold will actually increase instead.

Aside from the monetary value of gold, it’s a very useful metal in other ways as well. Since it’s both non-corrosive and extremely malleable, it can be made into many different shapes all for various reasons. Beautiful jewelry, coating for electronics, remedies for medical conditions, there is such a wide variety of ways that gold can be used to improve our lives which is why the demand for gold is always so high.

Gold Coins vs. Other Gold Assets

You’ve decided that you want your very own piece of gold, but with so many shapes and sizes to choose from, what should you go with? Coins are the more practical option because of their small size and convenient shape which makes it easier to transport. There are many different types of gold coins to choose from, all with their own historic, collector, and monetary values. The two categories which help distinguish the value of a coin are bullion and numismatic. Bullion coins come out in regular sets (American Gold Eagles, Canadian Gold Maples, South African Krugerrands, etc.) which makes it easy for beginners to track while numismatic coins hold a number of varying factors and unique traits which makes it more difficult to determine the value of its rarity. Regardless, both types of coins have their benefits.

Bullion Coins Numismatic Coins
  • Weighted in even amounts
  • Produced annually
  • Mainly used for investment
  • Higher rarity
  • Above base value
  • Historical background
  • Unique traits

Buying and Selling Gold Coins

Now that you understand the desire for gold coins and which ones to collect to suit your personal needs, how do you go about buying and selling them? Regardless of what other people may tell you, it’s actually better to go to a pawn shop over a gold buyer mostly because of the flexibility of the exchange. You’re able to negotiate and decide on the form of payment such as straight cash or a collateral loan.

How to Buy Gold Coins

When buying gold coins, the most important thing to consider is the pawn shop at which you are making the purchase. If you go to a well-known pawn shop in Baldwin Park with a higher reputation and many online reviews, they are likely to be more trustworthy than other shops in the area. By visiting a reputable store, you can avoid ending up with coins that are:

  • Counterfeit
  • Low-quality
  • Faulty
  • Misrepresented

With the cost of gold not being exactly cheap, wasting your hard-earned money on a bunk piece could mean the end of your investment journey. Or worse, it could stir up some financial-related issues down the road. This is why it’s crucial to be absolutely careful with each and every coin that you purchase or else it’s like you’re literally throwing wads of bills in the trash.

How to Sell Gold Coins

Before you go off selling your precious gold coins, it pays to find out the current value of gold first so you have an idea of what to negotiate. Like with buying, finding a trustworthy pawn shop is a big part of the process as well. Once you have the information-gathering part of the process down, use the checklist below to ensure you get the best possible price on your coins.

Gold Coin Preparation Checklist
  • Do NOT clean your coins! (Pawnbrokers want to see the coin in its natural condition)
  • Minimize handling by using cloth or tools to grab your coins and keep them in containers
  • Weigh your coins ahead of time for accuracy
  • Making sure your cherished coin goes to the right place will give you peace of mind, especially if it’s an inherited or numismatic coin that holds unique personal value. It’s difficult to rest easy thinking that your coin might be getting mistreated or that maybe you didn’t receive its full worth. That’s why you should never rush to sell your coin. Take your time and do it right, you’ll thank yourself later!

    Where to Go in Baldwin Park

    If you’re looking for a pawn shop in Baldwin Park that you can trust, look no further than Azusa Pawn. The honest staff are experts at grading gold coins fairly and will give you the best price in the area guaranteed. Every member is extremely knowledgeable in the gold market so you’ll never have to worry about being shorted whether you’re looking to buy or sell.

    Have questions? Give Azusa Pawn a call at (626) 334-2274 today to speak with a professional about what you can do to properly invest your gold coins. They’ve been trained to recognize all of the various traits in both bullion and numismatic coins so you’re sure to get an accurate analysis and fair appraisal. You can also stop by for a walk in at 1028 West Gladstone Street in Azusa, California.