A lot of our website discusses online gold buyers and sellers that you can approach to sell your coins. While it’s extremely convenient and there are great people to work with, sometimes nothing beats going and doing it in person.
If you’re interested in finding the value of coins quickly with someone in person and you live in the Rochester, New York area, then you’re in luck. Ridge Coin & Gold Exchange has been in operation for decades, and they’ve been growing quickly the past couple years. They just opened a second location on Jefferson Road in Henrietta to compliment their Irondequoit location, so whether you’re North or South of the city they’ve got a centrally located location for you.
Ridge Coin isn’t just limited to gold coins. They aren’t even limited to just gold, jewelry, diamonds, and precious metals. You’ll find a wide range of collectibles in their store, and they’re experts in buying and selling collectibles. Whether you want to sell some of your valuables or just get them appraised, the knowledgeable staff at Ridge Coin will be happy to take a look at your items, explain them, and give you a price for what you’ve got.
With gold prices simmering at similar levels over the past year and a half, many consumers are coming to terms with the fact that gold isn’t going to go up forever. That makes it a good time to cash in on current prices if you’d like to earn a little bit of extra cash with that extra gold sitting around the house.
For some gold coin sellers, they’re curious about whether the collectible value of their gold coins exceeds the gold value of them.
“Many years ago, that was often the case,” explains John Kolokouris, owner of Ridge Coin. “But as the price of gold has risen, more and more coins have been sold for their intrinsic value rather than the collectible value. Or in other words, the intrinsic value and collectible value are the same.”
According to Investopedia, the intrinsic value is the actual value of the asset.
The value of coins varies based on how pure the gold in the coin is. Some coins are 24k gold (pure gold), many are 12k, and still others fall somewhere between those values. A simple test can be performed at the shop to determine the purity of the gold, although in all likelihood the professionals at Ridge Coin will recognize the coin and know it’s gold value based on what it is and when it was made.
For more details on how the price of gold is calculated, take a look at the Gold Selling Guide, which goes through all the calculations to determine the value of your gold.
Visit Ridge Coin today at one of their two Rochester locations:
Irondequoit (North Rochester, NY)
2064 E Ridge Rd
Rochester, NY 14622
Henrietta (South Rochester, NY)
945 Jefferson Rd.
Rochester, NY 14623