There are a few different options for individuals looking to sell gold coins. One option is to sell to a company that specializes in the purchase of gold and silver coins. Another is to sell to a company that focuses on the purchase of gold in general.
The term "eBay gold coins" refers to any type of coin made of gold sold through the auction website eBay.com. The site allows users to sell any style of coin from any country, with prices set by the seller and influenced by current gold and coinage values.
Banks generally deal in United States currency, and while the U.S. Mint produces gold coins for collectors and investors, they are not legal tender and not handled by banks. Most people buy gold coins from private gold dealers or from the U.S. Mint.
The value of gold coins is ultimately decided by the coin market. Reputable coin pricing guides look at the average prices across a number of coin dealers. These prices are driven by the condition of the specific coin as well as the supply and demand of the market.
Simply put, a coin is a round shaped object that is also metallic. It is created with the purpose of having and transferring currency, says About.com coins expert Susan Headley.
There is no gold in a 1-pound coin. According to the Royal Mint, each British pound coin is made of a nickel-brass alloy that consists of 70% copper, 24.5% zinc and 5.5% nickel.
Coin collectors and appraisers rate coin condition on a grading scale from Poor to Brilliant Uncirculated. Scales differ slightly by country of origin. Some appraisers use their own internal scale to grade coin condition and determine value.