Tuesday, July 16, 2024

How To Sell Physical Gold

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Ubs Etracs Cmci Gold Total Return Etn

How to buy physical Gold and Silver? (Expert insights)

The E-TRACS CMCI Gold Total Return is designed to track the performance of the UBS Bloomberg CMCI Gold Total Return Index. Rather than investing in physical gold, this fund invests in a portfolio of gold futures contracts. Launched on April 1, 2008, UBG has an expense ratio of 0.30% and total net assets of $5.39 million.

What Products Can I Sell To Kitco

Kitco Metals Inc. buys the following types of products:

  • Precious metal bullion products can be sold to Kitco by any individual, business or trust
  • Scrap metal can be sold to Kitco only by businesses whose activities have a logical link with the sale of their scrap metals. Examples of such businesses are jewelers, pawn shops, antique dealers, manufacturers, dental laboratories, etc.

This section of the FAQs pertains to the sale of precious metal bullion products to Kitco. For further information on selling scrap metal, see our Selling scrap metal FAQs or call 1 877 775-4826 .

  • For bullion or any physical products – $2000
  • For digital products – No minimum
  • Confirm that the product you want to sell is a coin or bar
  • Select the relevant product from the list of the products we purchase
  • Click on Create packing slip to create your packing slip
  • Print two copies of the packing slip, one for your records and another to be included with your shipment
  • Send your package to the address on the packing slip

Large bars and Kitco Rhodium Sponge can only be sold over the phone . To sell any other precious metal bullion product online:

To see what you need to do confirm your price and when you can do so, see When is the price of my sale confirmed?

For further information, call 1 877 775-4826 or 514 313-9999.

You may have the price of your sale confirmed at one of the following junctures:

  • When you call in to make your sale
  • While creating your packing slip
  • When Kitco receives your product*

Investing In Physical Gold Can Cost You

One of the hottest investment topics right now is that of gold, and everyone is taking notice. Youve probably seen commercials encouraging you to purchase gold bars and coins in preparation of whats to come. Indeed, gold is often touted as a hedge against inflation, as the physical assets value is believed to always be more real than our fiat dollar. Additionally, concerns of our mounting government debt is like adding fuel to this fire. So, if you look to the future and see inflation , investing in physical gold may seem like the way to go.

But is it? Being invested in commodity funds is one thing, but investing directly in gold coins and bars may actually cost more than it is worth. Here are some of the reasons why planting a large portion of your investment portfolio in physical gold may not be the way to go:

  • Where will you put it? If you buy physical gold, you have to store it someplace. Of course, you can keep it on your premises , or get a bank safety deposit box. You will have to pay for the bank box, though, and when you go to sell, you are required to have the gold bar re-assayed before the transaction. If you arent interested in storing the gold yourself, you can make use of segregated storage vaults, with your gold allotment denoted. This costs around $15 a month, eating into your returns.
  • Also Check: Where To Buy Gold In Austin

    Check Current Gold Spot Prices

    It’s a good idea to follow the price of gold for some time before deciding it’s the right time to invest. You dont want to buy at the peaks, so you’ll want to understand what factors affect the price of gold. For instance, gold coin dealers maintain that numismatic coins are worth more than just the metal contained inside of them, which is how they can justify charging a premium when you buy. There’s really no getting around this, so be cautious of any dealer that claims it isnt charging a premium.

    Shop around dealer websites to make sure you’re paying a fair price for gold. Check exchange sites to find out what the spot price is, and expect to pay a 5% to 8% premium above the spot price for a gold coin.

    Bottom Line: Is Gold A Good Investment

    5 Steps for Selling Your Physical Gold and Silver

    Gold has been a commodity for thousands of years. Its value has been relatively stable historically, and it tends to perform better when stocks are down. For these reasons, gold is a popular investment strategy for many people who want to diversify their portfolios. However, most financial advisors dont recommend putting more than 10% of your assets in gold.

    If youre looking to invest in gold for retirement, you might consider a gold IRA. Gold IRAs are investment retirement accounts that are backed by gold. They work similarly to a traditional or Roth IRA but hold bullion or coins instead of paper assets. To learn more, research how to find the best gold IRA company.

    As a member of the ConsumerAffairs Research Team, Kate Williams, Ph.D. believes everyone deserves easy access to accurate and comprehensive information on products and businesses before they make a purchase. She spends countless hours researching companies and industries before writing buyers guides to make sure consumers have all the information they need to make smart, informed buying decisions.

    Read Also: How Much Is 12 Grams Of Gold Worth

    How To Sell Gold Bars

    As a symbol of luxury, golds worth is recognized and considered valuable internationally. A common form of owning gold is through gold bars. Gold bars were originally designed for easy storage and safekeeping as they are portable, private and long-lasting. Gold bars can easily be liquidated creating money for gold. An important thing to note when selling gold bars is that all bars do not have the same value, even if they are similar in weight and size.

    How Much Is 18k White Gold Worth

    18k white gold contains 75% gold.

    To find out how much your 18k white gold is worth, all you have to do is:

    • Look up the current spot price of gold.
    • Weight your 18k white gold and multiply that number by 0.75 to determine how much pure gold is in the item.
    • Multiply the number above with the current spot price of gold to determine how much it is worth.

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    How Pure Is Raw Gold

    Raw goldis 100% pure gold in its natural state, and always contains some kind of impurities.

    When these impurities consist of other metals, the gold is considered to be an alloy. The most common metal to be found with gold is silver, but gold can also be found with copper, iron, and lead impurities as well.

    Raw gold is commonly found as 18 karat gold, it can be as low as 14 karats in purity.

    How We Make Money

    How to Buy Physical Gold and Silver

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    Liberty Gold And Silver

    Liberty Gold and Silver is a Portland, Oregon-based precious metals buyer. You can sell gold, silver, platinum, palladium and more all at the same time.

    You can request a free quote and shipping label. Liberty Gold and Silver offers shipping insurance up to $1,000.

    If youre selling more than $1,000 in metal, youll need to ship and insure the gold yourself, though the company will reimburse you for the cost once it receives your shipment.

    You can obtain payment by check in the mail or a wire transfer to your bank account. There is a small fee for wire transfers.

    Why Gold Is Valuable

    Gold is a fascinating commodity one of the oldest forms of investment, wealth, as well as deeply sentimental when in the form of jewelry and other art. Plus, unlike stocks and bonds, gold is beautiful, and unlike real estate, highly transportable.

    Because pure gold is a chemical element, it is finite it is impossible to manufacture new gold . The limited, finite nature of gold is what gives gold value.

    Gold recycling is also one of the most environmentally sound processes reusing a natural resource again and again causing minimal environmental impact each time, and using tiny sums of energy.

    Gold is believed to have been first used in 40,000 B.C. in what is now Spain, with evidence of smelting dating to the fourth millennium in Mesopotamia. Gold is mentioned frequently in the Old Testament, starting with the story of the golden calf, and the New Testament mentions gold as one of the gifts of the magi in the first chapters of Matthew.

    Despite its ancient roots, and millennia of use, gold remains mysterious. However, there are some basic facts you should understand before selling your gold:

    Also Check: How To Get Gold Medallion Delta

    How To Sell Your Gold

    There are several things youll want to keep in mind when youre selling gold jewelry or other gold items. Our general recommendations include:

    • Try to sell at the right time. Gold generally increases in price when the stock market and other asset classes arent doing so well, meaning youll usually get the best price when the economy is weak. Although gold prices are at record highs right now, if you find yourself with gold jewelry to sell at a time when prices are low and you can afford to wait, you might get a better price by holding on to your gold items until the right time to sell.
    • Dont be afraid to negotiate. Whether youre selling online or to a local pawn shop, it never hurts to engage in a little friendly negotiation. If you think that the amount youre being offered isnt enough, try asking for more. As long as you keep it professional and ask for a reasonable price, theres a possibility that youll receive a counter-offer thats higher than the amount you were offered in the first place.
    • Choose the best option for the type of gold item you have. As we covered above, its always best to choose a merchant that specializes in buying the type of gold items you have for sale. If youre selling pre-owned gold jewelry, choose a buyer that specializes in jewelry, like Abe Mor. If youre selling a brand name gold item, choose a company that will purchase it based on its market value, not just the value of its gold content.

    What Kind Of Bullion Are You Selling

    Selling Gold Bullion: Physical Vs Online Gold Dealers

    Some gold and silver products are more valuable or in greater demand at a given time. Factors like whether its gold or silver, a coin or bar, and a government or private mint product will all play into resale value.

    Generally speaking, bullion that demanded a higher premium upfront will fetch higher prices upon resale, though it does depend on demand at the time. One way to assure that you have a strong resale ability is to buy the most popular products.

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    Bottom Line: Sell Your Gold To A Legit Online Gold Buyer Now

    Online gold buyers are in a strong position to offer high prices, since they dont have the expensive overhead of a retail store, and the competitive nature of the Internet means they are motivated to lower their fees.

    Plus, you enjoy the convenience and safety of not leaving your home, and in the case of our recommended gold buyer a 100% guaranteed highest price for selling gold jewelry, gold watches, scrap and gold coins. Get started with CashforGoldUSA now > >

    Need cash? Learn about our $500 single-mom monthly grant.

    *10% bonus offer. Customers who send in their item within 7 days of receiving the shipping materials will automatically receive an additional 10 percent bonus on top of the appraisal value of their items, compared to standard pricing. Total payout may not exceed melt value of items. The 10% bonus offer is not valid or able to be combined with any other special offers.

    How much do you get for selling gold?

    Where you sell your gold, what type of gold coins, jewelry, bullion, scrap and whether you sell online or at a location near you all affect how much money you can get for your gold.

    What is the best way to sell gold?

    While there are certainly reputable local jewelers who can give you an honest gold resale price for your jewelry, coins, bullion or other items, selling your gold online with a reputable business is advantageous.

    Is it safe to sell gold online?

    Reputable gold buyers guarantee safety by insuring your shipments.

    How can I sell my gold online?

    How Much Can You Get For Selling Silver

    Much like gold, silver is at or near all-time highs. Silver is also a highly sought-after commodity, both for investors and for practical uses in products like electronics , and in pharmaceuticals .

    Silver prices also can fluctuate quite a bit based on market demands as both an industrial commodity and as an investment. Prices can change dramatically from day to day, or week to week as short-term demand rises or declines.

    To determine the value of the silver you want to sell, youll need to determine the weight and the purity, just like selling gold.

    Online silver buyers make it convenient to price out your silver jewelry, flatware, coins, bullion, and scrap silver.

    If youre looking for a reputable place to sell silver, consider starting with Cash for Silver USA, the sister site of CashforGoldUSA. It pays within 24 hours after appraisal and guarantees the highest price or your item will be returned, free of charge. If you happen to have silver, gold and diamonds to sell, you can sell all of these on CashforGoldUSA.

    Read Also: What To Know About Golden Retrievers

    Usps Registered Mail Is The Safest Option For Domestic Bullion Shipments

    When shipping bullion in mail within the USA, the USPS Registered Mail service remains the best general shipment option in terms of overall price, safety, value, and potential insurance coverage.

    USPS Registered Mail parcels can be insured for up to $50,000 USD per parcel at your local USPS Post Office.

    Safest way to ship Gold Bullion = USPS Registered Mail

    Steps to Shipping Bullion with USPS Registered Mail

    In order to ship bullion safely with USPS Registered Mail, you will need a few items to make a safe and compliant shipment.

    The following are basic best-practices for safe bullion shipping within the USA:

    Private shipment service providers like FedEx , DHL and UPS explicitly prohibit individuals from fully insuring precious metal bullion shipments. Note this precious metal private shipper exclusion just mentioned, does not include bullion businesses who often have direct operation agreements with the private carriers they ship with as well as additional third party insurance backstops covering themselves and their customer base.

    Why is USPS Registered Mail so much safer compared to private carriers?

    First, if USPS employees are caught stealing Registered Mail parcels typically they end up in Federal Prison and also forfeit their often coveted government pension plans.

    Thus the USPIS also helps ensure that USPS Registered Mail will likely remain the safest and best option for individuals shipping bullion fully insured through the USAs domestic mail system.

    Glossary Of Gold Terms

    Best Way To Buy Physical Gold – Think Small

    You may already know a fair amount about gold, but to fill in any holes you might have, heres a glossary of terms you should get familiar with when looking to sell your gold.

    Ask and Bid Prices. The ask price is the price a precious metals dealer has set for a bar or coin, also known as the selling price. The bid price is how much a dealer is willing to pay to purchase or buy back a coin or bar.

    Assay. A test to determine the fineness and weight of a precious metal.

    Avoirdupois. The weighting system used for commodities, except precious metals, stones, gunpowder, and drugs. For example, corn, wheat, meat and other common items use the 16 ounces equals one pound unit of measurement. One avoirdupois ounce equals 28.35 grams or 437.50 grains.

    Metals stones, gunpowder and drugs are weighted according to a Troy ounce. It is heavier than an avoirdupois ounce. One troy ounce equals 1.09714286 avoirdupois ounces. One troy ounce equals 31.1035 grams

    Comex. Located in New York City, Comex is a division of the New York Mercantile Exchange and one of the worlds major commodities futures exchanges where gold and silver are traded.

    Fine weight. The precious metallic weight of a coin, ingot, or bar, as opposed to the items gross weight. The gross weight also includes other alloys. For example, a 1-oz Gold Eagle has a fine weight of one troy ounce but a gross weight of 1.0909 troy ounces. The .0909 troy ounces are composed of other alloys.

    • Luster
    • Color
    • Preservation

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    What Is A Troy Ounce

    A troy ounce is a particular unit of weight that the precious metal industry uses. That means that gold is typically weighed, bought and sold in troy ounces.

    The troy weight system originated in 15th century England. In the troy weight system, 24 grains make up a pennyweight, and 20 pennyweights equal one ounce. Twelve troy ounces equals one troy pound.

    One troy ounce equals roughly 31.1 grams or 1.097 regular ounces. When making rough approximations, you can assume that a troy ounce is 10% heavier than a regular ounce.

    That means that if you have one regular ounce of gold, you have .91 troy ounces of gold.

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