Each year, more investors and collectors are becoming savvy to the benefits buying gold bullion can have.
The majority of those who purchase gold bullion do so to hold the gold for an extended period of time.
This is so they can treat this precious metal as an investment and keep it as stored wealth, rather than rely on the instability that comes with fiat currencies.
Individuals, banks, and institutional investors store gold bullion as investments.
They also hold it as a hedge against the uncertainties and fluctuations that are possible with fiat currency.
Although buying and selling gold bullion can be a worthwhile investment, it’s just that – an investment.
And, like all investments, there will be a time when you will want to cash out on your gold bullion so you can have money to either further your investments or spend it on whatever you wish to.
That just leaves one question – how do you sell gold bullion? Stick with us and we’ll guide you through the whole process.
If you have collected or invested in gold bullion, but the time has come to sell it, you will need to follow a few steps.
Continue reading as we discuss what gold bullion is and talk you through the best ways to sell it online.
Gold Bullion – What Is It?
Gold bullion is gold that has a high purity. This is gold with a purity of 99.5% or higher.
Most of the time, gold bullion comes in the form of gold coins or gold bars, and it is the most popular form of gold held as investments or as a store of value.
Moreover, because it tends to hold its value well, gold bullion is typically quite easy to sell on.
When you want to sell any type of gold, you can achieve excellent returns.
Whether you’re selling wedding and engagement rings and other types of jewelry, your return on investment is usually quite good.
However, compared to gold bullion, these gold items tend not to maintain their value as well.
That is why it is more beneficial to hold onto gold coins and bars, rather than gold jewelry, for investment purposes.
In 2020, the prices of gold reached record levels. Therefore, it was a great time to get a good return on your gold investments.
In 2022, higher rates of gold prices have outweighed any inflation risks, meaning it is still a good time to invest in gold bullion.
In fact, if you want your portfolio to offer you a comfortable stream of resources for your retirement years, investing in gold is worth considering.
But, as with any transaction, it is essential to consider and follow the best possible practices to enjoy the best value and return on your investments.
When you know what your gold bullion is worth, you can be in a better position to find a fair price when selling it on.
Where To Sell Gold Bullion
You have many options when it comes to finding respected establishments to sell your gold bullion.
And, no, you won’t have to pawn it off with the following places.
Located in New York City, Abe Mor allows customers to sell gold bullion online easily.
Using their gold price calculator, you can find out the worth of your gold bullion (see also ‘How Can I Cash In Gold Bullion?‘) and then complete their simple online form to get a quote.
If you’re happy with their offer and want to accept it, they will pay you within just one working day.
Abe Mor also provides fully insured shipping with US mail or FedEx. Therefore, it is easy to send gold bullion for their experts to examine carefully.
This makes the whole process pleasingly straightforward, especially for items that may be worth a lot of money.
Online Bullion Dealers
In general, you’ll get the best return on your gold bullion investment when selling to an online dealer.
Online merchants tend to have more economical business transactions and less overhead than local stores (which we will discuss next). Therefore, they can generally offer increased prices married with lower fees.
You are spoiled for choice when it comes to reputable online gold buyers. Just search “sell gold bullion” or “sell gold coins” on the internet, and many options will appear.
However, you must be diligent, as you would when selling to a store. Do your research into the online seller to ensure that they are trustworthy and reliable.
Local Bullion Sellers In-Store
If selling online seems a little risky to you, you may want to sell your gold bullion in person. If so, you can search for a gold bullion dealer in your local area.
Most major cities have a range of bullion dealers. You can simply search for them online by typing in “selling gold bullion near me” online.
Whilst selling in person to a local dealer may seem more comfortable, you must ensure that they are trustworthy.
Unfortunately, there are many exploitative merchants out there who will try to pressure you into parting with your gold for a far lower price than it is worth.
You can research local bullion dealers by checking our recommendations and reviews online.
Once you have found a reliable dealer, you can contact them or visit their store and get an estimate on what your gold is worth before selling it.
In the last few years, the price of gold has reached its highest levels for a long time. Therefore, it has been a pretty lucrative time to sell gold bullion.
You can sell to online merchants, local bullion dealers, or to the most reliable bullion dealer in New York, Abe Mor, to try and get the best return on your gold bullion investment.
If you’re sitting on gold bullion, it may be time to turn that gold into actual cash.
Just do your research on who you’re selling to beforehand so you can make an educated decision on whether it’s the right time and choice for you right now.