For centuries, gold has been considered and perceived as an asset that preserves wealth in turbulent times. There is a lot of information about the different forms of gold. However, nuggets have minimal effect on how and where you sell bullion. People don’t buy gold bars or any other kind of precious metal and hold it because that shiny yellow metal is beautiful but because it has monetary value. People hold on to physical gold to survive economic shocks. Eventually, you will sell your gold. There are bullion dealers who offer different ways to invest in gold and turn the gold you have into cash. You have three basic options when selling bullion: Selling your gold to a private individual, a local gold dealer, or an online gold dealer.
Sale to a private person
Selling large amounts of precious metals to individuals can be risky. There is always a security concern when selling to a stranger. You can sell to someone you know as a personal friend or family member, but it’s always a question of whether they’ll give you the best price.
Local vendors vs. Online Precious Metal Dealers
You can sell bullion to a local or online gold dealer. Local bullion dealers and their online counterparts generally offer the same price, although online dealers often claim their prices are the best or most competitive. That may be true, but you have to factor in insurance and shipping costs. That is too much of a hassle and an unnecessary one, considering that dealers are scattered everywhere in Melbourne.
Most online sellers will charge more than 1% of the spot price for government-backed gold bullion, such as:
– Australian Philharmonic Coins
– Australian Kangaroos
– The Mexican Libertads
– American Eagles
– Canadian maple leaves
– British Britain
– Chinese pandas
Most dealers would instead buy gold bullion products produced in their own countries or products well sought-after worldwide. The above-mentioned gold bullion coins are the most sought-after products considered to be of the highest standard.
Online gold sellers allow people far from a gold dealer to sell their gold. You can find one online if there is no gold dealer near you.
It’s easy to make a quick buck if you sell a bull to a local dealer. You also don’t have to worry about shipping or insurance costs. Shopping is important. Different gold dealers will offer different prices for the gold they buy. However, not all bullion buyers will want to buy your gold. Some gold traders buy gold coins to sell themselves. Those who buy gold they did not sell can do so at a lower price. People who bought gold stored in a dealer’s facility can easily sell the gold metals to the same dealer at a profit.
The bottom line is that you should research the different options you have and choose the one that gives you the best price