Gold bullion is the term used to refer to any form of gold bought and sold for the value of the metal, as opposed to collectible coins or jewelry. Gold bullion comes in coins and bars of various sizes. If you live in Illinois and have gold bullion to sell, you'll find you have many options open to you.

Gold Market Basics

The value of gold investment coins and bars depends on the market price for gold bullion, which fluctuates daily. Before you sell gold bullion, you should always check the current prices. There are many online financial websites like Kitco.com that provide up-to-date quotes (see Resource section). Reputable dealers generally pay a price discounted a few percentage points from the market. The difference goes to cover their costs. Any gold bullion you choose to sell in Illinois or elsewhere should be certified. For example, a certified gold investment coin like an American Eagle is encapsulated (in a sealed package) and accompanied by documentation. If any of your gold bullion is not certified, you can have it tested and re-certified by a recognized firm such as National Guaranty Corporation (see Reference section). Established dealers won't buy uncertified gold, or will have it tested at your expense.

Finding Bullion Dealers

Any good-sized city in Illinois has coin and jewelry shops that buy and sell gold bullion. For example, in Peoria you can call Westlake Rare Coins at (309) 686-2535. In Rockford, try Cherryvale Coins and Stamps at (815) 322-2477 and in Decatur, Centurion Coins and Collectibles at (217) 422-3433. If you are in Chicago, you have many dealers to pick from. Two are Gold Dust Coins (312) 842-4240 and World's Money Exchange (800) 441-9634. For listings of more dealers throughout the state of Illinois, check the online listings of the U.S. Mint or the American Numismatic Society. The U.S. Mint does not buy gold bullion (but they will be happy to sell you some). However, nearly all of the dealers in their state-by-state listing buy as well as sell gold bullion. The American Numismatic Society Dealer Listing features city-by-city as well as statewide dealers.

Source:

U.S. Mint Dealer Locator

About NGC Certified Coins

National Guaranty Corporation