Gold, a perennial currency has what many fiat currencies lack - intrinsic value. While the price of gold may rise of fall in a given fiat currency, many experts have shown that gold has a set value whereas fiat currencies like the dollar are prone to inflation. This means that in the long run, the gold price denominated in dollars, yen, or pesos will go up making an investment in gold a great hedge against inflation. After investing in gold by buying gold bars, the next step is to know ho to make a profit by selling them. This article will tell you how to sell gold bars.
Find a gold dealer in your area with the local yellow pages or online with your favorite search engine.
Check the spot price of gold with most trusted financial resource. The spot price is usually quoted per troy ounce or per 100 grams.
If you are trying to sell bullion bars (almost 100% gold), simply multiply the spot price by the weight of your bars to find their value. Other gold bars may have varying value based on their gold content and collector interest.
Sell your gold bars at the local dealer of your choice or online on ebay or a reputable gold dealer site. Make sure you have the cash in your hand or deposited in your bank account before shipping your gold.
Most gold investors only part with their physical gold out of necessity. If you are trying to simply win profits from short term gold investment plays, an easier way to do it would be to invest in gold mining stocks or a gold ETF (Exchange Traded Fund) like GLD.
- Gold Bars Worldwide. "Gold to Go Vending Machines," Page 1. Accessed July 31, 2020.
- The London Bullion Market Association. "The Guide: An Introduction to the Global Precious Metals OTC Market 2017," Page 18. Accessed July 31, 2020.
- United States Mint. "American Eagle 2020 One Ounce Gold Proof Coin." Accessed July 31, 2020.
- Most gold investors only part with their physical gold out of necessity. If you are trying to simply win profits from short term gold investment plays, an easier way to do it would be to invest in gold mining stocks or a gold ETF (Exchange Traded Fund) like GLD.
Jason Gordon is a professional writer and editor. In addition to online work, he has written for "Texas Highways," "AAA Southwest," "Glimpse," the "University of Washington Daily" and the "Dallas Morning News." Gordon's passions include animals, reading and finding the perfect pairings of pastry and espresso.