Gold prices are soaring. The price of gold per ounce is currently over $2.500, which is approximately 2.100 Swiss francs. For individuals who have inherited coins or jewelry they no longer use, this is certainly a favorable time to sell. It is also no coincidence that in recent months, flyers advertising mobile buyers seeking old gold and other valuables have been arriving in mailboxes.

It appears that people are taking advantage of the opportunity. The World Gold Council (WGC), the international industry organization for major producers, recently recently reported , a significant increase in the supply of recycled gold from Europe in the second quarter of 2024.

Gold Coins Can Be Worth a Small Fortune

In this context,  auction house Rapp advises caution. Owner Marianne Rapp Ohmann warns against «thoughtlessly selling valuable gold coins that could be worth a small fortune.» One should not «fall for so-called gold specialists who may not recognize or may even conceal the true value and ultimately profit from it themselves.»

Instead, it is important to be thorough and consult «genuine experts.» Rapp, based in Wil with representation in Zurich, considers itself among the «leading stamp and coin auction houses in the world» and claims to have auctioned «rarities and treasures» worth more than half a billion Swiss francs over its 50 years of business.

Numismatic Department Expanded

Mauritius Faber, new head of the numismatic department at Rapp (image: Rapp).

The auction house has noticed the growing interest from private individuals and recently strengthened its numismatic department with the addition of Mauritius Faber as its new leader. Faber brings extensive experience in numismatics from a prestigious German auction house and valuable connections with collectors and dealers.

An important point is that the collector's value often exceeds the material value. Faber explains that a gold coin is not just a gold coin. Significant price differences can exist depending on the year and condition. «Protect your gold coin as you would your most treasured possession and sharpen your eye for what is truly valuable.»

Open-Door Valuation Daz on Wednesday

Rapp Ohmann adds: «Just because a gold buyer is temporarily operating next door doesn’t mean you should rush to sell your entire collection.» However, internet research can also be fraught with challenges, notes the owner. «It’s often difficult for laypersons to get accurate information.»

Gold fever has led coin owners to frequently visit the auction house directly. Normally, the house offers valuations by appointment only but will conduct an «Open-Door Valuation Day» in Wil this Wednesday as an experiment.

Experts will provide advice, perform free valuations, and, of course, offer a sales proposal if requested.