One question that doesn’t get asked often enough when people buy gold bullion, is how to sell it. There is a process involved when you sell your metals and its best that is understood before you buy.
There are several different options available when the time comes to sell gold bullion and other precious metals. Every situation is different and you want to choose the most cost effective and convenient way possible. The best way to sell your metals is the way that gets you paid fast but most importantly fair.
- Coin Shop: You may live in an area where there are coin dealers who have actual brick and mortar establishments. The idea of getting paid cash on the barrelhead is appealing, but comes with some drawbacks. Most of the time you will get paid far less than your metals are actually worth. Privacy is yet another concern and these days privacy is huge!
- Private Sale: Precious metals are easy to sell in the free market if you can find a buyer. There is a large network of investors who buy and sell precious metals and bullion products. Nearly every city has coin shows where you can meet merchants who are highly knowledgeable. There are also online forums where you can get information anonymously.
- Online Dealer: These days the majority of investors buy and sell gold bullion through an online dealer. You can call your broker and lock in a sale price on the spot in most cases. Another benefit is that you can handle the transaction privately and on your terms. The drawback is that you must pay shipping and insurance charges. The primary way to ship precious metals is through the US Postal Service.
If you have questions regarding how to sell gold bullion, or any other precious metals we would be happy to answer any questions you may have. Give us a call at 888-928-3390 and we can walk you through the steps for safely shipping your precious metals.
Scott HageMonetary Specialist