About Monterey Gold & Coin Exchange
Looking to sell your precious metals to the highest bidder? If you are in Pacific Grove, California contact the Monterey Gold & Coin Exchange as they pay the highest price for gold, silver, jewelry, and coins.
Where to Find Monterey Gold & Coin Exchange:
Located in the American Tin Cannery and Serving Monterey County
Location: 125 Ocean View Blvd #208, Pacific Grove, CA 93950
Contact Phone Number: 831-521-3897
Store Hours: Monday to Saturday 10 am - 5 pm
In its retail location, Monterey Gold & Coin Exchange offers a variety of coins, collectibles, gold, and silver. In addition, they sell gifts in their local shop for visitors to the area.
Pros and Cons of Monterey Gold and Coin Exchange
What to Know About Selling Gold and Silver Coins & Bars
You collected several gold and silver coins, rounds, and bars over the years and you figure now is a good time to sell.
Here are the Top 5 Things to Know about Selling Precious Metals
- Gold and Silver Prices start with the current Spot Price. The Spot Price determines the starting point. Most Bullion will get paid less than Spot. Some exchanges or dealers will pay anywhere from 3-10 percent below the current spot price for bullion coins and bars.
- Junk-Silver - Dimes, Quarters, and Half-Dollars produced Pre-1965 have less than .999 purity silver. All 1/2 dollars issued in 1964 and before have 90% silver or 11.4 grams of silver. If the spot price of silver today is $23.50 per troy ounce then one 1964 1/2 Dollar can have the silver value of 0.362 x $23.50 or $8.51. The collector value of these types of coins can be higher than the value of the silver. Kennedy Half-Dollars pre-1965 have greater collectability.
- Every dealer will have a different "buy" price. The local coin dealers or larger online Gold or Silver IRA dealers will pay differently. Do you have an existing relationship? Did you buy the bullion from them originally? Many factors go into your offered price. Dealers are in the business to make money. If you have a 1 oz American Eagle Silver Coin a dealer may have that item priced at $37-$42 each today. But with the current spot price of silver at $23.32 per troy ounce they will not pay you $40 per coin. They want to make money, so the price you will be offered will be at or below the current spot price.
- Need to Understand How Premiums for Bullion are Determined. Premiums originate from the mint company based on the cost of the metals along with the cost of production and minting. Once an item gets circulated, the cost of the premiums is the spread between what the dealer paid and what the buyer is willing to pay. The Premium for Silver typically is less than that of gold bullion. But, you must be aware of the premium to not extend your investment so far above the spot that you cannot recover from paying a high premium.
- Selling Sets or Rare Coins will get you the best price. The price paid will be based on several factors. One such factor is the demand for the product. If you have a BU Coin or Rare Coin or collectible, you could get a higher price and more than the spot price of the metal inside the coin. It seems like every year of production the U.S. Mint makes a mistake and there are coins circulated that are worth more than their face value.
What Service Does Monterey Gold and Coin Exchange Provide
As a local gold and coin exchange Monterey offers the ability to buy and sell bullion, rare coins, and numismatics. They also offer a variety of gift items in their store.
According to their website, the primary business is the purchasing of bullion, gold, silver, jewelry, and scrap silver.
Quoted "We pay the highest price of gold and silver in Monterey County".
Trustworthy Gold Buyer:
- Gold Bullion
- Gold Coins
- Scrap Gold
- U.S. Gold Eagles
- Luxury Watches
Dependable Silver Buyer:
- Silver Coins
- Silver Bullion
- Scrap Silver
Knowledgeable Jewelry Buyer:
- Antique Jewelry
- Estate Jewelry
- Broken Jewelry
- Unwanted Jewelry
- Scrap Jewelry
- Engagement Rings
- Tennis Bracelets
FREE Appraisal on US Coin Collection - Bullion Buyer:
- Junk Silver
- 1/2 Dollars
- 1 oz or Fractional Gold Coins
- Gold Rounds
- Silver Rounds
- Silver 1 oz Coins
- Fractional Silver Coins
How to Sell to Monterey Gold & Coin Exchange
The best way to get your items sold when you live in the Monterey County area is by stopping by their location. For larger collections, it would be best to schedule an appointment by calling 831-521-3897.
Many of the reviews found on Google and other locations indicate the customers were extremely happy with the offers made for their gold and silver at Monterey Gold & Coin Exchange. Several indicated they stopped at various coin shops prior to Monterey and was extremely satisfied with their CASH offer.
Is Monterey Gold & Coin Exchange a Good Place to Buy Gold and Silver for my IRA
The short answer is No!
While Monterey may have a few bullion pieces available to buy that would qualify for a SDIRA, you cannot purchase and hold them at home. They have a small quantity of bullion available and you most likely wouldn't get the quality of gold or silver required for your IRA. In addition, to buy within a self-directed IRA you must go through your custodian and store the metals in a secured storage facility.
Where Should I Buy My IRA Gold and Silver Bullion?
The Plug has several gold IRA dealers we have reviewed. We believe there are two that top the list that are for those looking to diversify and invest using existing retirement savings. Having an existing IRA or 401(k) that you can roll over is ideal for a self-directed IRA started by those nearing or in retirement. The most reputable Gold IRA Dealers want to educate you before you purchase from them.
Goldco and Augusta Precious Metals top our list of the two best Gold IRA Dealers. Click on the links below if you wish to get more information. Check out our 5 Best Gold IRA Companies review to get more information about each business. Remember Gold IRA Companies are Gold and Silver Dealers, they are not custodians. They will help you facilitate the set-up of your SDIRA and provide education and assistance when purchasing your metals. They will not advise you on investment purchases. They are the authority when it comes to understanding how precious metals can benefit your retirement savings and they provide some excellent educational resources.
Final Thoughts on Monterey Gold and Coin Exchange
It is apparent that the Monterey Gold and Coin Exchange is an excellent choice for those looking to sell their precious metals, gold and silver jewelry, watches, and silver flatware. Their location in Monterey County, California gives those residents in the area an excellent opportunity to get the best cash offer for the items.
While not the best choice for buying gold and silver bullion, the knowledge you get from a local dealer can be invaluable for making larger IRA transactions.
Check out their location in the Old Tin Cannery Building next time your on Ocean View Blvd in Pacific Grove.
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