Thursday, May 9, 2024

How To Sell Your Gold Bullion

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How Much Is Your Gold Worth

How To Sell Gold & Silver Bullion Without Getting Ripped Off

Like all commodities in economics, the price of gold is influenced by supply and demand, in addition to speculation. The majority of the world’s total mined gold still exists today in accessible forms, like bullion and jewelry. This form of gold has great potential in the resale market, where people can provide money for your gold. In the past few years, the quantity of pre-owned jewelry re-entering the market has turned into a multi-billion dollar industry. Many companies offer high market value prices to gold jewelry sellers.

A Guide To Selling Gold Bullion In Toronto

Are you looking for ways to earn some extra money during the holiday season? Selling your unwanted gold is the best way to do it. But selling your gold in Toronto can be an overwhelming process. You may find yourself with a number of questions and concerns:

  • How much is it actually worth?
  • How can I find out its purity?
  • Who can I trust to buy my gold for a good price in Toronto?

Global Bullion is a trusted Canadian brand that works in partnership with Muzeum to sell and buy gold and silver bullion of all kinds. Whether its a gold bullion coin, gold bullion bar, or gold bullion round we will buy it. For 1oz we generally offer 95% to 96% of the spot price, but this percentage can increase as quantity of the gold bullion or silver bullion being sold increases. If you are looking for somewhere to sell your gold bullion, then you should definitely visit our shop located in the heart of Yorkville in Toronto at 14 Prince Arthur Avenue !

We offer an experience like no other when you visit our shop youll tell the difference right away: were not like all those other cash for gold shops that are out to take advantage of you. Our on-site experts are friendly, welcoming, and informative youll never be pressured to sell your items even after you receive your FREE evaluation.

So if youve ever wondered where to sell bullion then the answer is simple: at Global Bullion! We pride ourselves in our transparency and always eager to share our expertise in the gold industry.

How Much Do You Get For Selling Gold

A variety of sources online, such as, will give you the spot price of gold. Dont expect to get that amount, though, for old jewelry or coins. For one thing, those are wholesale values, and you are selling to a middleman, who is going to need to make a profit when he resells your property.Smith, the past international president of the American Society of Appraisers said some places that post signs offering to buy gold pay just 40 to 45% of the value. Pawn shops may pay just 20%. So what’s a fair value? Consumers should sell to someone who will pay 65 to 88% of the value of an item, according to Smith.

Why cant you get more? There are several reasons. For one, businesses that buy gold are usually required by state law to hold onto items for a set number of days before selling them, Smith said. This can be a gamble because of the volatility of gold prices. The purchaser of your gold also will likely sell to a refiner or to a middleman who sells to refiners. The gold will pass through two or three sets of hands before it is ultimately sold for its value.

Gold jewelry isnt always very heavy, so the price that something was purchased for will not be the same as what you sell it back for, Gizzi said. Remember, the retailer that buys the gold, has to process it, clean it, and oftentimes melt it down to make it into something else before they can resell it.

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Are Cash For Gold Companies A Good Place To Sell Gold Or Silver Online

Overall, cash for gold and cash for silver companies are the best option for getting a good value for your items. However, that comes with two caveats.

First, make sure that the site you use is trusted. They should take all of the measures listed above, including providing insurance for shipping.

Second, these sites are not the best choice for instant money. Though the better ones such as CashForGold or CashForSilver have a quick turnaround time, they can still take a week or more for shipping, appraisal, and payment.

If you need a sale immediately, someone who will buy in-person is your better bet, though you will likely receive less money for your item.

Sell Gold Online At Gainesville Coins

How To Sell Your Coins

Click to following link to sell your gold online to Gainesville Coins.

We pay top dollar for your gold bullion and will appraise your gold totally free of charge! We also buy silver bullion as well as platinum and palladium coins.

In addition to being an online gold buyer, Gainesville Coins also operates a luxury showroom storefront. You can always visit our showroom to sell your gold in person, or call us at 482-9300 with any questions about selling gold and silver.

Learn more about buying and selling precious metals from the experts at Gainesville Coins:

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Why Investors Like Gold

Gold has a proven track record for returns, liquidity, and low correlations, making it a highly effective diversifier, says Juan Carlos Artigas, director of investment research at the World Gold Council.

These qualities are especially important for investors:

  • Returns: Gold has outperformed stocks and bonds over certain stretches, though it doesnt always beat them.
  • Liquidity: If youre buying certain kinds of gold-based assets, you can readily convert them to cash.
  • Low correlations: Gold often performs differently from stocks and bonds, meaning when they go up, gold may go down or vice versa.

In addition, gold offers other potential advantages:

  • Diversification: Because gold is generally not highly correlated to other assets, it can help diversify portfolios, meaning the overall portfolio is less volatile.
  • Defensive store of value: Investors often retreat to gold when they perceive threats to the economy, making it a defensive investment.

Those are a few of the major benefits of gold, but the investment like all investments is not without risks and drawbacks.

While gold performs well sometimes, its not always clear when to purchase it. Since gold by itself doesnt produce cash flow, its difficult to determine when its cheap. Thats not the case with stocks, where there are clearer signals based on the companys earnings.

Is Now A Good Time To Sell Gold Is Gold Good To Sell Now

When the economy and stocks are unstable, prices of gold historically rise. In other words: Now is an excellent time to sell your gold!

If you have gold jewelry, coins, gold teeth or other gold items that you do not use, or do not enjoy, then you should absolutely sell your gold now. That money can be used to pay down debt, take a vacation, go towards a downpayment of a house or other useful purposes.

Even selling an old gold chain you haven’t worn for years, or is broken, can mean a nice restaurant meal!

Two facts:

  • When the stock market and other economic factors are down, historically gold prices have been steady and strong. This is no exception. Gold had been at record high prices for all of 2021, with no signs of significant drops.
  • If you do not enjoy your gold jewelry or coins, and need the money, now is an excellent time to sell gold bullion, coins, scrap or jewelry.
  • Also, it may make sense to sell your gold, and buy stocks or an index fund to take advantage of the down stock market. You are essentially selling your gold high, and buying stocks or real estate low exactly the best way to invest.

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    How Much Is 18k Gold Worth

    18k gold consists of 75% gold and 25% some other metal. Since it is less pure than 24k gold, youll get less money for an item that is 18k gold than one that is 24k gold.

    To find out how much money your 18k gold item is worth, all you need to go is:

    • Look of the current spot price of gold in grams
    • Weigh your 18k gold and multiply that number by 0.75. This will tell you how much pure gold you have.
    • Multiply that number with the current spot price of gold.

    Next Calculate The Value Of Your Gold

    How to sell your silver bullion and coins

    Now that you know that your coin or bar is real, its time to calculate the value. There are a few steps to this as well:

    1. Figure out the Purity of Your GoldGold purity ranges from 0 to 24 karats. For gold bars specifically, they are normally used for investing. Investing in gold is something that will never lose value. Gold bars are typically 24-karats, meaning pure gold. They should be stamped with purity. Figuring out the purity of your gold bars shouldnt be hard.

    Gold bars should almost always have .9999 or .999 stamped on them. This is simple to double-check.

    For coins, it can come down to research. You may need to check online databases to find your specific coin to find out the purity. If you cant identify it on your own, take it to a professional. A jeweler has tests they can complete to find out the purity of your coin.

    2. Weigh Your GoldThe next step in finding out the value of your gold is to weigh it. For gold bars, this value should be printed on your bar.

    For coins, make sure to have a scale that can measure to one-tenth gram. Place it on your scale and write down everything that returns. When you get an estimate, your weight will probably differ. This is because professionals have very specific scales. Weighing it yourself will give you a good idea.

    3. Calculate the Melt Value of Your GoldYour golds melt value defines how much you would make if your gold is melted down and sold. To calculate this, use this formula:

    x Golds Current Market Value

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    Using The Market Depth Screen

    Some people use the market depth screen as an indicator of future price movements.

    Get there by pressing BUY/SELL to get to the order board and then clicking Market depth in the Views dropdown menu.

    A deeper market is one in which you can buy or sell more bullion. The longer the yellow lines the more gold there is about hoping to be bought. The longer the green lines the more cash there is about, chasing gold.

    The most competitive prices are only available for a limited quantity of gold , next to the middle grey line on the screen. As the terms improve for your prospective counterparties the quantity of bullion you can trade increases too. In other words if you’ll pay a bit more you can buy more bullion and if you’ll accept a bit less you can sell more bullion.

    Pay particular attention to the cumulative and logarithmic scales of this graphic.

    • The cumulative figure means that for each new price – away from the central grey strip – the depth includes all more competitively priced gold.
    • The logarithmic scale means that each additional increment on the horizontal scale multiplies the market depth . This allows the screen to show scales from a few grams to 100 kilograms.

    What Does Global Bullion Buy

    First, lets start by looking at what bullion actually is: bullion refers to investment grade precious metals like gold, silver, and platinum, and is generally weighed by Troy Ounces or in Grams. It comes in a few major forms like coins, rounds, and bars/ingots something that you might be familiar with and have on your hands!

    In Canada, gold must have a purity of 99.5% and silver must have a purity of 99.9% to be considered bullion and be tax exempt. We buy gold bullion from all over the world of all ages, conditions, and from all manufacturers.

    When it comes to coins, they are minted by a government entity and have legal tender attributed to them. While the precious metal value should always be higher than the face value of the coin, these pieces do come with a premium cost as they often are made with intricate designs.

    The most popular coins that we buy include:

    • Maple Leaf
    • Valcambi Mint
    • And All Private Mints!

    When you bring your gold to Global Bullion you are guaranteed to be able to sell it. Thats because we have created an extensive network of collectors, so that even if we are unable to buy your item we can find someone who will. This means that you can rest easy knowing you are getting the most money for your gold. Most other places would simple buy your item on the spot at a much lower price than what its actually valued!

    Read Also: 18k Gold Per Ounce

    How To Sell Your Gold

    Nigel Doolin, Head of Trading at Core Bullion Traders.

    When the time comes for you to sell your gold bullion or coin, how do you sell your gold? Like all trading at Core Bullion Traders, we try to make the process as simple and straightforward as possible.

    If you are selling to a gold trading company, there are specific questions you should ask before selling:

    What percentage premium will you be charged? this varies from company to company so you need to know this to ensure you are happy that you are getting a good deal.

    Is the gold tested on-site? All reputable gold trading companies will have on-site testing equipment here at Core Bullion Traders, we have an 8-Level testing setup which ensures all gold which comes through Core Bullion Traders is tested to the industrys highest standards.

    Is there any cost for testing? You should be made aware of any and all costs associated with selling your gold to any company prior to carrying out a sale.

    Once you are happy with the above answers from the company you are selling to, you should proceed ensuring that you are receipted for every step in the transaction.

    How Much Can You Get For Selling Silver

    How to sell your gold coins

    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: How Much Is 18k Gold Worth 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.

    Other Ways To Sell Gold Or Gold Jewelry

    I researched all these options before moving forward with CashforGoldUSA, and found it was the best choice:

  • Online gold buyers Search for online gold buyer and sell your gold online
  • Local gold buyers
  • Antique stores
  • Recyclers
  • While there are many reputable local businesses that 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 usually the best way to sell gold.

    Using an online gold buyer is advantageous because:

  • Selling gold online is much more convenient than driving around to area businesses near you.
  • Since online businesses serve customers nationally, there are more reviews and nationwide certifications and verification services like the Better Business Bureau to lend credibility and trust.
  • CashforGoldUSA has an online calculator to help you understand their offer before you even send in your item.
  • An online gold buyer will make an offer based on the weight and purity of the metal you send. This includes gold coins as well as jewelry: Youll be paid for the metal value rather than a coins face value.

    Online gold buyers can 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.

    Those we considered when deciding on the best included:

    • Liberty Gold and Silver
    • Goldco Precious Metals
    • Gold Geek

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    Know What Youre Selling

    After youve made the decision to sell certain pieces, its key to understand how best to sell them according to their category or categories.

    Gold and Silver Bullion in Bars, Coins, or Ingots

    Gold and silver bars, coins, or ingots are a form of investment. The form of metal is usually of high purity, as this makes it easier to sell gold and other metals later. For gold, this is 24 karats, also known as gold bullion.

    Bullion, whether gold or silver, can also be in the form of coins. These coins are different from coins you would spend. Instead, they are simply bullion shaped into coins.

    It should be easy to determine what type of silver or gold bars, coins, or ingots you have in bullion, as they will be stamped showing their weight, purity, and serial number.

    Gold and Silver Coins

    If youre selling gold coins or silver coins, their worth as collectable items may be more valuable than the metal they contain. Dont sell them for scrap before understanding what you have!

    This isnt the case for bullion coins, which are like metal bars: theyre worth the market value of the metal itself.

    The U.S. mint makes bullion in their American Eagle coin, which features the Bald Eagle and the Statue of Liberty. Their American Buffalo coins, featuring buffalo, also serve as bullion. Both are offered as both gold and silver coins.

    Keep an eye out for rare coins like this. Even if you dont make thousands on them, they can still be worth more than their metal content implies.

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