Selling Gold Bullion

When the economy is doing poorly, gold prices are usually high. At times like these, many people holding gold bullion are eager to "cash out" and take their profits. Gold bullion tends to be a long-term investment. People buy it without thinking about when they will sell. Others inherit gold bullion. It can be owned by a family for generations before being sold. As a result, many people don't know how to sell gold bullion.

Examine the kind of gold bullion you have. The most popular form of gold bullion is 1 oz. rounds. These resemble gold coins but are not monetized. They are issued by government mints around the world. Most notable are the United States, South Africa, Austria, Australia, Canada, Mexico, the United Kingdom, and China. These 1 oz. gold coins are the easiest to sell since every coin dealer accepts them. Gold bullion bars and coins that are a fraction of 1 oz. may be more difficult to sell.

Consider the quality of your gold bullion rounds. With gold bullion rounds, the value is decreased if the quality is less than perfect. The more a gold bullion round is worn or touched, the less it is worth. If your gold bullion is in a protective covering, do not remove it. Do not ever touch a gold bullion round with your bare hands, and never clean it even if it is dirty. You will only reduce its value.

Search the Internet for the current price of gold. Gold prices change daily and gold dealers base their prices on the daily rate. You need to know the current price of gold so you won't be cheated. Gold prices are stated as dollars per ounce.

Know what your gold bullion is worth. If your gold is scratched up with fingerprints all over it, you will be offered less than the current gold bullion price. If your gold bullion rounds are in "Gem Uncirculated" condition, you can expect a bit more than the spot price of gold. Understand that a gold bullion dealer's buy and sell prices are different. Dealers will pay you less than they can sell your gold bullion for.

Find a reputable gold dealer. The best place to sell your gold bullion is at a shop that specializes in precious metals. Look for someone with a long history in your community who lists the buy and sell prices for everyone to see. A reputable coin dealer will also buy your gold bullion but may not give you as good a price as a bullion specialist.

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Turn to the Internet. You can also sell your gold bullion yourself over the Internet on auction sites like eBay. Understand the risks of selling on Internet auction sites. Buyers may not trust you, and you must be sure get paid before shipping the gold bullion. Be sure to insure any gold bullion you send in the mail.

Buying Gold Bullion

Gold bullion is investment grade gold. It is usually in the form of gold bars and gold rounds. It differs from gold coins in that it is not actually money. Many national mints make gold bullion that looks like coins and even have values stamped on them. However, they are not monetized and therefore are not legal tender. Their value is in their gold content.

During tough economic times, many people turn to gold bullion as an investment. Gold tends to increase in price when the economy is doing poorly. Gold bullion is often a long-term investment. Families hand it down from generation to generation.

It is important to understand what gold bullion is. Gold bullion can be in the form of coins or bars. It varies in purity from 22 karats to 24 karats. The purity isn't terribly important because prices of gold bullion are based on the amount of gold in the coin or bar. A one ounce gold bullion round contains exactly the same amount of gold regardless of whether it is 22 karat or 24 karat. Gold jewelry and other gold items are not considered gold bullion.

Investors must decide what kind of gold bullion you want. The most popular form of gold bullion is one-ounce gold rounds. They are the easiest to buy and sell since every coin and bullion dealer deals in them. They are sometimes referred to as "coins" even though they are technically not coins. Don't let this confuse you. One-ounce gold bullion rounds are issued by government mints around the world. The best ones to own are the most popular. They include the American Eagle, the South African Krugerrand, and the Austrian Philharmonic.

Only settle for the finest quality gold bullion rounds. Since they are investment grade, they are well cared for. Virtually all of them are in pristine condition. If you damage your gold bullion rounds in any way, they will fall dramatically in price. The less the coin is worn or touched, the more it is worth. Only buy gold bullion rounds that are in "gem uncirculated" condition. Only accept them if they are in a protective covering like a plastic sleeve. Never handle investment quality gold bullion rounds with your bare hands or sharp object. Absolutely never attempt to clean them. It will only cause damage and reduce the value.

Be wary of certified coins. There are many coin-grading services that assign a grade to gold bullion coins, then encapsulate them in plastic. This supposedly guarantees the quality and authenticity of the coin. It is also an excuse for dealers to charge you more for the coin. Gold is gold. A little piece of paper saying one coin is better than another isn't always worth paying significantly more. As long as bullion is genuine and flawless to the naked eye, it will retain its value as a gem-uncirculated gold bullion.

When buying or selling gold bullion, it is important to know the spot price of gold. Gold prices change daily and gold dealers base their prices on the daily rate. Find the current spot price of gold with an Internet search so you wont get cheated. Gold prices are stated as dollars per ounce.

Find a reputable gold bullion dealer. The best place to buy gold bullion is at a shop that specializes in precious metals. Look for someone with a long history in your community who lists their buy and sell prices for everyone to see. A reputable coin dealer will also sell you gold bullion, but may not have the selection and quantity that a bullion specialist does.

Ask the gold bullion dealer for discounts and deals. In some states, there is no sales tax on gold transactions more than $1,000. Many dealers will give you a price break if you buy large quantities. Some offer free shipping and insurance if you buy a certain amount. Always inquire about their buy back policies.

There are many disreputable gold bullion dealers looking to take advantage of people who want to buy gold. Only deal with reputable gold dealers. Research their experience, and ask others for references. If it sounds like their deal is too good to be true, it probably is. It pays to shop around.

Turn to the Internet. You can also buy gold bullion yourself over the Internet on auction sites like eBay. Understand the risks of buying on Internet auction sites. You are sending your money to a stranger hoping they will mail you gold bullion. Be sure you are dealing with a reputable seller and insure all shipments.

Gold in US

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