5 Critical Mistakes Everyone Makes When Selling Gold Coins (And How to Avoid Them)

I’ve watched these same errors play out time and again. Let me help you steer clear of the traps that catch so many sellers when deciding between Gold American Eagles and classic pre-1933 coins like Saints.

Mistake #1: Not Understanding the Gold Content Difference

One big error? Sellers often don’t realize that 10 Gold American Eagles hold more pure gold than 10 pre-1933 $20 Saint Gaudens coins.

American Eagles each contain 1 troy ounce of gold. Pre-1933 Saints have about 0.9675 troy ounces per coin.

So selling 10 Eagles means you’re offering more gold than 10 Saints. That adds up fast.

Warning Signs

If you’re counting coins instead of weighing gold, you could be leaving money behind. I’ve seen it happen too many times.

Recovery Strategy

Always tally the total gold content. Use this simple formula:

Total Gold Ounces = Number of Coins × Gold Content per Coin

For Eagles: 10 coins × 1 oz = 10 oz

For Saints: 10 coins × 0.9675 oz = 9.675 oz

Mistake #2: Ignoring Numismatic Premiums

Another common misstep: treating every gold coin like plain bullion.

Some coins—like slabbed MS63 1924 Saints—carry extra value from collectors, even if the premium seems small.

What Not to Do

Don’t assume all old coins are valuable. But also don’t ignore possible premiums.

I’ve watched sellers let historically meaningful coins go for spot price, missing out on better returns.

Prevention Strategy

Check recent auction results for similar coins. Talk to trusted numismatic experts before you sell.

Coins over 100 years old, like 1924 Saints, often hold collector appeal—even in lower grades.

Mistake #3: All-or-Nothing Thinking

I often see people stuck between two choices: sell all Eagles or all Saints.

This rigid thinking usually leads to regret.

Warning Signs

If you’re only considering extremes, you might be in this trap.

Selling some of each—like five Eagles and five Saints—can offer variety and reduce risk.

Recovery Approach

Try a partial sale of both types. This lets you:

• Spread out your selling risk
• Stay in both bullion and collector markets
• Get cash while keeping your collection diverse

Mistake #4: Timing the Market Perfectly

Many sellers freeze up trying to catch gold’s peak.

I’ve seen folks hold coins too long, waiting for prices to climb “just a bit more,” and miss good chances to sell.

What Not to Do

Don’t try to time the market exactly. No one knows how high gold will go.

Waiting for certainty often means missing your window.

Prevention Strategy

Set clear selling rules based on your needs—not predictions. Think about:

• Setting target prices for partial sales
• Using a dollar-cost averaging approach
• Focusing on your cash needs, not chasing the absolute top

Mistake #5: Neglecting Personal Preference and Collection Goals

I’ve watched sellers make choices based only on money—ignoring which coins they love or long-term goals.

Warning Signs

If you’re only looking at numbers, not which coins you truly enjoy, you might regret it later.

Recovery Strategy

Balance finances with what matters to you. Ask yourself:

Which coins would I miss the most?

Keep the ones that bring you joy. Sell those that make financial sense.

Conclusion: Building a Smarter Selling Strategy

After years in this space, I’ve learned that selling gold coins well means balancing several things: gold content, numismatic potential, diversification, realistic timing, and your own attachment.

The real mistake isn’t picking Eagles over Saints—it’s not looking at the whole picture.

Avoid these common errors, use the tips I’ve shared, and you’ll make choices that boost both your returns and satisfaction.

Sometimes, selling some of each is the wisest move.

Related Resources

You might also find these related articles helpful:

• Sell Your Gold Eagles or Pre-1933 Coins in Under 5 Minutes: The Fast, Efficient Method That Actually Works – Need to sell your Gold Eagles or pre-1933 coins right now? I’ve been there – staring at my collection, wonde…
• The Insider’s Guide to Selling Gold: Why Your Choice Between Eagles and Pre-1933s Could Cost You Thousands – Let me let you in on a little secret most gold sellers never discover until it’s too late. After two decades in th…
• I Tested Selling 10 Gold Eagles vs. 10 Pre-1933 Saints: A Comparative Analysis of What Actually Maximizes Your Returns – Introduction I tested selling 10 Gold Eagles and 10 Pre-1933 Saints myself. I wanted to see which one actually pays off …