What Is Secondary Market Gold?
Investors interested in buying the cheapest gold for investment should look at secondary market gold first. We provide such products, should you wish to to buy secondary market coins and bars.
What Is Secondary Market Gold?
Secondary market gold refers to gold that has been purchased secondhand. It may also be referred to as pre-owned or second hand.
Pre-Owned Gold Coins For Sale
This term is used when selling gold and other precious metals that have been acquired from parties who are not the original sellers. The gold content remains unchanged, regardless of the condition of the secondary market items, whether they are new or old. The secondary market can encompass coins, bars, coin sets, and medallions.
Benefits of Buying Secondary Market Gold
One advantage of buying secondary market gold is that it is often less expensive than newly minted gold. The smaller buying-selling spread on secondary market bullion makes it a cost-effective option for investors looking to grow their portfolios and get more gold for their money. Another advantage lies in the availability of older coins or bullion. Mints will usually only create a select number of a commemorative coin, for example. Once these have sold, they are usually only available on the secondary market. The secondary market is a vital resource for the avid collector.
Damage to Secondary Market Coins or Bars
Bullion Coins Are Not Always in Perfect Condition
It's important to note that secondary market coins and bars may show signs of wear or have small scratches, scuffs, or edge knocks. In cases where they are severely damaged, they may be sold as Grade C or scrapped.
Can Secondary Market Be Newly Minted?
Secondary market products are generally coins and bars issued in previous years. If we have bought gold which is in its original newly minted state, we may sell this as our choice newly minted or as a dated coin or collectable bar.
Any goods sold as our choice will offer good value to the investor.
Rarity and Increased Value of Secondary Market Coins or Bars
Collectable vs Bullion
There may be some coins, commemorative coins, coin sets, or medallions that are more valuable than others. Dealers often sell these as dated or graded coins. Collectors should examine coins carefully for rare coins, low mintages, mint marks, and key dates as there is always a possibility of receiving something more valuable when buying pre-owned gold.
What is the Primary Gold Market?
The primary gold market refers to the sale of new coins or bars, often referred to as newly minted gold, directly from a mint to an investor or through dealers like ourselves.
How Can I Sell My Gold Coins?
We buy gold coins at premiums which are close to the intrinsic metal value - or more, for certain coins. If you want to sell your gold coins, visit our Sell to Us page for the live prices, or give us a call on 01253 343081 . You can either send your coins to us with the downloadable form on our website or you are always welcome to come and see us in our showroom by making an appointment.
The process is simple, and whether you are liquidating your whole investment portfolio or a few coins, we can usually offer payment either immediately or within a few days.
How Do I Know If The Gold Is Genuine?
All precious metals that we buy are checked by our highly trained team. You can be assured that second hand gold coins, bars and coin sets that you buy from Chard are genuine. If this is something you would like to discuss in more detail, please do feel free to give us a call.
Jewellery is one of the more common precious metal items that are faked, but be aware that fake bullion and coinage is also on the market. If buying from private or unknown sellers and dealers, there is a risk that your product is counterfeit. Knowing how to tell if gold is real could save you a lot of hassle and, most importantly - money. Luckily, due to gold’s unique properties, accurate fakes are incredibly difficult to make and there are a few easy tests you can do at home to tell if your gold is real.
If you are looking to buy the best value secondary market gold, take a look at our choice secondary market coins such as Secondary Market Sovereigns, Secondary Market 1oz Gold Coins and Secondary Market Britannias.
The easiest way to compare the prices of coins is to look at the premiums, as these show you the additional amount being charged on top of the intrinsic value of the metal: