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The value of gold coins can be determined easily enough by a licensed gold dealer. In the United States a good first step would be to find a dealer who is a member of the professional numismatists guild (PNG) or other reputable numismatic organization.
The most important tool for finding the value of gold coins is an accurate , certified weigh scale. Professional dealers need to have their scales inspected and certified by their State's weights and measures department. This is a third party government agency that certifies that the weight the gold dealers scale is showing is accurate and reliable. A dealer can be charged for using an unreliable scale.
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http://monetaoro.unicatt.it/referenze.htm
| Determining the value of Gold CoinsTypically gold dealers use their scales to measure by the troy ounce, the pennyweight or by the gram. A troy ounce equals about 20 pennyweights or 31.1 grams. In addition the dealer needs to know what the purity of the coin is, or how much gold it has in it. Some bullion coins such as the Canadian Gold Maple Leaf are 24 Karat or almost pure gold. Many gold coins though are less than 24 karat.
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http://monetaoro.unicatt.it/referenze.htm | For example, lets say you want to sell an 18K gold coin on a day when the spot gold price is $900 per troy ounce:
The dealer weighs the coin and finds it is 4 pennyweight (or 1/5 of an ounce).
If the coin was pure 24 karat gold its value would be: $900 x .20 (1/5) = $180.
But, because this coin is 18-karat or 75 percent gold the value is: $180 x .75 = $135
This value is the coins "melt value." Typically a reputable dealer will pay you about 65-70% of the "melt value". So the the amount the dealer would pay you would be:$135 x .65 = $87
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http://monetaoro.unicatt.it/referenze.htm | Other things you should be aware of are "holding periods". The dealer may pay you less if the price of gold drops during the holding period.
Most gold dealers will not reveal the price they pay for gold over the phone, they want you to come into the store for a proper valuation. You should visit at least three dealers to get a valuation since the amount the gold dealer pays out can vary widely.
Dealers factor in more than just the value of the gold into the amount they pay you. Some add in a factor for gold they have bought which turns out to be worthless. Most will deduct some amount to cover their overhead expenses.
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Dealers are also sellers too, they buy your gold along with other customers and sell it to a refinery which melts it down. So bear in mind that you are not going to get paid the value of the item strictly based on the spot price of gold on that day.
Another factor to consider is that gold coins often have historical and collectable value. This may be more than the "melt value" of the coin at any given time. You need to compare your coin against other similiar coins on ebay or with other collectors, so you can get a good idea what the actual value really is.
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