Investing in gold collectible coins or bullion remains a popular option for many people. Gold has an enduring reputation for retaining its value during times of economic uncertainty. If you live in Michigan, you can choose to buy or sell gold online with a dealer or on eBay. However, if you are like most people, you will want to find a dealer in Michigan where you can do business face-to-face.

Check Prices

Before you buy or sell gold in Michigan, be sure you have an idea of the market value of the items involved. For gold bullion (bars and investment coins like Krugerrands or American Eagles) this is simple since their value depends on the current market price for gold bullion. You can check daily prices online at Kitco.com (see Reference section) and hundreds of other financial websites. Determining the value of collectible gold coins is more complex because the condition and rarity of the individual coin is usually the major consideration. Check a good up-to-date numismatic catalog like the ones maintained by Professional Coin Grading Service (PCGS) or Kraus World Coins (see Reference section). Be sure the gold you buy is authenticated. For collectible coins, this means a certificate of authenticity that comes with each coin issued by a recognized grading service. For gold bullion, the gold should be certified either by the issuing mint or by a trusted service like the National Guaranty Company. You can try to sell gold in Michigan that is not properly authenticated, but in most cases a dealer will require that you pay the cost of having the necessary tests done. You'll have less hassle and probably get a better price if you have this done yourself.

Find Dealers

Most towns of any size in Michigan have at least one coin or jewelry dealer who buys and sells gold. For example, in Birmingham there is Birmingham Coin and Jewelry, at (248) 642-1234. In Grand Rapids, you can go to Accent Jewelry and Coin or call (616) 552-5060, or for Lansing, try Liberty Coin Service at (517) 351-4720. Two other examples are Redford Jewelry and Coin in Redford at (800) 541-3862 and Small Town Collectibles in Davison, at (810) 658-1992. To find additional dealers in Michigan communities, check the American Numismatic Association (ANA) Dealer Listing and the U.S. Mint Dealer Locator (see the Resource section). Both have state-by-state search capabilities and provide full contact information for dozens of coin and jewelry merchants in Michigan.

Make Arrangements

It's generally a good idea to call ahead for an appointment when you want to sell gold in any form. That way the dealer can set aside time to assess your coins or bullion. If you are trying to sell raw or scrap gold, regular jewelry and coin dealers may not be set up to help you directly. However, most dealers will give you a referral to a trustworthy assay service or refiner in Michigan if you ask.

Source:

Krause World Coins Catalog

PCGS Catalog and Coin Grading

Kitco Daily Bullion Quotes