Saturday, April 13, 2024

How To Sell Your Gold Bars

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Sell Gold Bullion In Canada


Canada Gold is the countrys highest paying and most trusted precious metals dealer. We pay more cash for your gold bullion. We are pleased to offer the top market price for gold bullion in bars, coins or any form.If another gold buyer offers you more money for your items, well beat their quote with our 120% Best Price Guarantee.

What Is The Minimum Price You Should Get For Your Gold

At a bare minimum, you should receive a high percentage of the melt price for any gold coins you are selling. In many cases, you should receive a lot more than the intrinsic value for rare coins.

Be sure to visit multiple dealers to confirm the value of your gold, especially if it is in a form that collectors will prize.

What Other Are Saying

I did extensive research on the many gold and jewelry buying companies. In my case, I wanted to sell a custom wedding ring made from gold, platinum with a little diamond. I wanted it to be melted down so not to be worn by another person. I don’t often do online comments but feel compelled to pass on the good words for an honest person who treated me with respect and fairness. Sincerely, William W.

The Honest Shop.

The rep was very honest and told me the value of my coins were worth more than he could give me. He suggested I take them to a coin shop which I did. He was very honest and fair, It says a lot about the company Glenn R.

Excellent customer service and prices.

I was really impressed with the customer service I received at Utah Gold Buyers. I am a starving car dealer and needed some extra money to keep things going another month. They beat the others with a best first offer price. John J

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Frequently Asked Questions About How To Sell Gold

Is gold difficult to sell?

Not at all! It’s simply a matter of finding a gold bullion dealer with a good reputation. If you bought your gold from a professional dealer in the first place, you should always be able to sell your gold back to them.

How can I sell my gold online?

Selling gold online isn’t much different than selling it in person. All you need to do is find a trustworthy gold dealer with a website. There you should find information about the process of selling gold online. Using the information in this guide, you can judge for yourself if they are a reputable gold buyer.

You will need to know what kind of gold products you’re trying to sell, however. A dealer can’t make you an offer until they know what specific items you have. This is why doing some research about what type of gold you have is a wise decision.

How much do you get for selling gold?

It depends on how much gold you’re selling in terms of weight, and what the gold price is at the time you sell. This hand melt value calculator can help you calculate how much gold you have.

You can read more about how much a gold bar is worth on the Gainesville Coins blog.

How much money do gold dealers pay for gold?

Gold dealers will normally pay at least 98% to 99% of the melt value for your gold. This is a standard practice in the gold market. In the case of a collectible gold coin, the dealer may pay more.

Can gold be sold for cash if I need quick cash?

Can I sell my gold to the bank?

Selling Gold & Silver Jewelry

How to Sell Gold Bars

The big factor here is if youre selling bullion jewelry or costume jewelry.

Bullion jewelry are pieces that contain nothing but gold. Some 22-karat pieces contain an alloy to give it added strength, but its content is otherwise nothing but real gold. This signals to buyers that if they want an adornment that will also have resell value tied to the price of gold, then they want to buy bullion jewelry.

In contrast, costume jewelry contains many other items besides gold or silver . Some costume jewelry can be very valuable of course, but resale is usually not as high because 1) the value is more subjective, and 2) the retail markup was initially very high.

Browse our selection of gold jewelry

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Gold Value Faqs: How Much Is Gold Worth

The resale value of your gold is based on the current market price of gold bullion but considers several other factors. The higher the percentage of gold in your jewelry or coin, the higher the value.

Gold is measured in karats, with 24-karat being the purest gold, with the highest gold melt value. Unless you have gold bullion or another form of pure gold, your gold item is mixed with other metals or alloys.

You can get an estimate for the price of your gold with CashforGoldUSA’s gold calculator, which factors in the current price of gold:

Gold prices have been hovering at a 7-year high. As of , the gold resale value in the United States was at a near-record price of $ per ounce, or $ per gram.

How Much Is Gold Bullion Worth

It depends on the fineness of the gold piece and the current market price of gold. The purer the piece, the higher the gold content, resulting in a higher price.

Compared to numismatic coins, gold bullion bars or bullion gold coins can typically be purchased and traded at lower price premiums over the fluctuating spot price. They hold no historical significance as opposed to collectible coins.

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Selling Gold & Silver Bullion Online

Selling precious metals to an online dealer may fetch the best price because theyre operating expenses are much lower than a local coin shop that has to maintain a physical storefront.

Selling your gold or silver online to is easy. Just follow this process:

  • Enter the quantity and product description you are selling.
  • Confirm the location of your metals.
  • Confirm your account address.
  • Shop Around Before Selling Your Gold

    Black Desert Online: What to do with Gold & Silver bars

    Amanda Gizzi, spokesperson for jeweler trade organization Jewelers of America, says that getting more than one offer and selling to a reputable purchaser are important steps to selling gold and jewelry safely for a fair price.

    Shopping around is a good way to understand the average price you can expect, Gizzi said. If you can find a jeweler that you like to buy jewelry from, you may find you get a higher amount if you use the money toward another jewelry purchase.Kate Mars, who lives in Arlington, Virginia, went by recommendations from people she trusted when she sold jewelry and a coin collection from a safe deposit box left when her father died.

    Through the estate lawyer, she found a coin dealer in nearby Frederick, Maryland, where the dealer gave Mars a sense of security as he went through her books of coins and told her what had value.

    The jewelry had been appraised for the estate and none of it was particularly valuable, Mars said. She took that to a jewelry store that was recommended to her — and that had been in business for a long time. The people were nice, she said. They looked everything up…Even if I could have made a few more bucks , I am happy with the experience.

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    Q: How Much Does A Gold Bar Weigh

    A: A standard gold bar is pretty heavy. It weighs about 400 ounces, or 27.5 pounds. Thats the type of gold bar stored at Fort Knox. Its about the size of a regular brick.

    However, the kind of gold bar you would buy for your portfolio doesnt weigh that much. For instance:

    • A 1-oz. gold bar weighs 1.097 ounces . Thats about the weight of a slice of bread.
    • A 10-oz. gold bar weighs 10.97 ounces . Thats about the weight of a grapefruit.
    • A 1-kilo gold bar weighs a little over 2.2 pounds. Thats about the weight of 1 liter of water.

    Estimate Your Golds Value

    Before doing anything else, take the time to estimate the value of your gold. However, this can be a bit of a complicated process because you have to account for the purity of your gold and golds changing value.

    To start, sort your gold by purity, grouping each karat level. Once youve organized everything, weigh each group on its own, then multiply the weight you get by the purity of gold it contains.

    You can put together a table like this to help with the process:

    • 24 karat 99.9% pure
    TOTAL: 13.913

    Ounce you know how much pure gold you have, you can multiply the weight by the current value of gold.

    While youll have trouble getting the full value of your gold from most buyers, this will give you a ballpark measure of the price that you should get.

    For example, if you have 14 ounces of gold and gold is selling for $1,300 per ounce, youll know that your metal is worth $18,200.

    If you get an offer for $4,000, youll know its a bad deal. If the offer is for $16,000, its much more reasonable.

    If Selling Gold to Be Melted Down, Make Sure It Is Not Worth More As-Is

    If you plan to sell gold to a gold dealer that is primarily interested in its value as a precious metal, make sure that any jewelry or other gold items youre selling arent worth more than the gold they contain.

    Antique jewelry can be worth far more than the gold it contains due to its historical or artistic value, and you might get a better deal from a specialized buyer of antique goods.

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    Sell Your Gold Bars Coins & Silver

    Selling your gold and silver bullion is a quick and easy process here at Sharps Pixley.

    You can sell your bullion over the counter at our London showroom, send the metal to us in the post, or have it safely collected from your home address.

    We buy gold and silver bullion bars and coins at market leading rates, offering the highest buyback prices from around 99% of the spot market value, assuming the bullion is in good condition.

    Payment can be made by bank transfer, or in cash if selling in person. We require two forms of identification for all transactions one photo ID , and one proof of address dated in the last three months .

    All buyback prices will be confirmed over the phone or counter, and finalised once the gold or silver bullion has been received and tested. Precious metals presented for sale will be authenticated using proprietary non-invasive assaying methods. Please note that any indication prices are subject to change due to market fluctuations.

    How Much Is White Gold Worth

    Sell Gold Bars &  Bullion

    White gold is an alloy that consists of gold mixed with one or multiple other metals, such as nickel. Because of this, there is no such thing as 24k white gold. But since it contains at least some gold, white gold will still be valuable. 18k white gold will typically be worth about the same as 18k gold. The same is true when comparing 14k white gold against 14k gold.

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    What Is The Gold Spot Price

    The spot gold price is the price that gold will sell for today on the spot. This price changes daily and is the standard used by dealers to set their prices to buy from consumers.

    It is expressed at the current price that one troy ounce of gold can be bought or sold based on an unfabricated form of gold. Unfabricated means the gold is in a raw form before it is struck as a coin or poured into a bar.

    Many factors influence the spot price of gold. Market speculation, current events, supply and demand and other things will impact the rise and fall of spot gold prices. Keep in mind that gold is constantly being bought and sold around the world, not just in the United States.

    This 24-hour a day action includes gold being sold on exchanges in New York, Sydney, London, Hong Kong, Tokyo and Zurich. As prices rise and fall in each of these markets, it impacts prices throughout the world.

    If you are actively engaged in seeking to sell gold, or will be doing so over a period of time, youre smart to keep up with the spot price of gold to help you get the most money when you sell, and get the best price if you intend to buy.

    Pandemic Affects Consumer Gold Sales

    More and more consumers are looking to sell gold items, according to Gary Smith, past international president of the American Society of Appraisers , even if gold prices arent particularly high right now. Part of the reason for the heightened interest in selling? It’s a bit dark: The high number of deaths from COVID-19 has left survivors to sell property owned by their deceased relatives, Smith said.

    Also, people facing financial hardship because of the pandemic are looking to sell gold and other items. People have actually come into our facility with very low-value jewelry, said Smith, who owns PA Gem Lab in Montoursville, PA. They need money and theyre willing to sell grandpas class ring. It is a sad state and people are hurting.

    With all this need, scams abound, according to Smith. So its wise to be cautious when selling your gold and jewelry. As with most things, knowledge is your key to success.

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    Are Premier Gold Parties A Good Way To Sell My Gold

    Organized like Tupperware parties, these gatherings are typically arranged by friends or neighbors who meet to socialize and sell gold in a home setting. While theyre convenient, you may not get a very good deal if you sell your gold at one of these.

    Theres a couple of reasons why. First, there are extra middlemen who need to get a cut. The company who organized the party and the host will both take their share. The other problem is that at parties like these, gold is often weighed together.

    There is no consideration given to karat value, and payment is usually made at the lowest karat value rate. If you must go this way, separate your gold jewelry by karat in advance and dont accept the mixed bag terms.

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    How To Sell Your Gold & Silver Coins Bullion

    The Royal Mint prepares a free, regular bullion newsletter via email with articles like this one, as well as news and current events that we think may be interesting to investors and anyone who follows financial developments. If you would like to subscribe, simply enter your details below.

    Whether you are looking to sell your gold investments or part with a gold inheritance, why not take advantage of The Royal Mints buy back service, which offers anyone the opportunity to sell their precious metal holdings.

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    Find A Merchant That Specializes In Gold Bullion

    Many businesses that offer cash for gold do it to resell your gold at a markup, meaning the price they offer to buy your gold for will be a lot less. These stores, such as pawn shops that operate on a buying and selling model, need to offer less than what your gold is worth in order to make a profit.

    Gold bullion is held as an investment, as the price of gold will almost certainly rise over time. So, when you sell gold bars or gold coins, youre selling close to the market price, as the buyer can expect to profit just by holding on to the gold for a length of time.

    Thats why you should always sell gold bullion to a buyer that specializes in gold bars and coins, rather than a retail store that most likely wont offer fair value for your bullion.

    Before Selling Your Gold Talk To An Appraiser

    The first step, Smith said, is to talk to an appraiser. Smith pointed to the ASA, as well as the National Association of Jewelry Appraisers and the Appraisers Association of America as the major organizations in this area. In addition, he said theres an organization for retailers called the American Gem Society.

    Appraisers who belong to one of these organizations must abide by strict codes of conduct and ethics, Smith said. All three of these outfits maintain databases on their websites where you can find an appraiser near you. For a small fee — perhaps as low as $20 — one of these independent appraisers can give you a quick assessment of what you have and what it should fetch, along with whether a piece of jewelry has intrinsic value beyond the gold weight and if the gems are real.

    That should be enough, Smith said, to give consumers what they need to know to sell their items for a fair price. A seller shouldn’t need an expensive, written appraisal, such as might be required for insurance coverage.

    Most appraisers are pretty lenient that way, Smith said. Were here to help and from ASAs standpoint, were here to educate the general public. Appraisers, he said, want people to get value for their money.

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    How Much Is Gold Worth Per Ounce

    This sounds like a simple question, but it does not come with a simple answer.

    Three factors primarily drive the answer. They are:

    1. When do you want to cash in your gold?

    The price of gold is constantly changing. Market forces, supply and demand, and global economic conditions all influence the price of gold. That creates short and long-term trends in the price of gold. In times of turmoil, gold can bounce up and down quite a bit.

    You can get a sense of how gold moves from several places. One of the best is the AMPEX website. For example, you can see that gold cratered on March 19, 2020, at $1,481.90 per ounce. But as of July 23, 2020, gold had trended upward to $1,877.60 per ounce.

    If youve got 500 ounces of gold to sell, thats a $20,000 swing in your favor if you sell at the right time.

    2. What form of gold do you have to sell?

    If youve got scrap gold, thats one thing, but if you have gold coins that will bring a premium, or have numismatic value, thats quite another. You may also have an antique that could also fetch a big dollar amount and you may not even know it.

    3. Where do you want to sell your gold?

    The smart answer is where you can get the best price. However, youve got to know where that is so you can make the most of your selling opportunity.

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