Expert: Dmitry Livshits - 10/27/2009

Question
I have two 1987 100 yuan gold panda coins in their original sealed plastic.  What is the safest way to sell them for the best value?

Answer
Hi Deborah,
The best way of selling them yourself is to either auction them off on ebay, or to sell them to a local dealer that will pay very close to bullion value.
Such coins, when in mint condition, usually sell for gold value plus 10% or a little less. However, there are about 10% worth of fees associated with the auction. If you can find a local dealer that will pay close to full bullion value, which would be between $950 and $1,000, that is preferable. This way, you get about the same amount and do not have to deal with the hassle of shipping the items.
Be very wary of local dealers that offer a low-ball figure. Many of them try to make unethical gains by assuming that people do not know the current value of gold. The current trends are at $1,040 to $1,050 for an ounce of .999 pure gold.
Thanks for the question! =)