After having held your gold bar for a while, you now want to sell it to take advantage of the prices and make your investment profitable. Just like when buying, the sale of your bullion also requires some precautions to be redeemed more easily.
The question that arises is to whom to sell it and how?
Caution is required, because if you sell your ingot it is certainly to have the capital necessary for the realization of another project or quite simply that you need liquidity for one reason or another. The redemption of your gold bar must therefore be carried out with a professional in precious metals trading.
However, prefer those who already have many years of experience in the field and who offer to buy the ingot during the day. If you still have the certificate for your bullion, the sale will be much easier, as you can redeem it from any precious metals trading company. On the other hand, if you no longer have a certificate you can still sell your gold bar, only its price will drop a little. In most cases, the cost of reconstituting the certificate will be charged to the selling price of the bullion. You will need to know the Best place to sell gold bullion in this case.
Remember that the certificate is a form of attestation of the purity of your gold bar. It contains all the information relating to the quality and origin of the ingot. Also, keep in mind that sales commission charges and the tax on the sale of bullion will be deducted from the product offered for sale. If you put up for sale a large quantity of bullion, the commissions will be revised downwards, between 1 to 4% of the selling price of your gold bullion.
Bank or Agency: where to sell your Gold?
This is an option available to you (individuals), if you want to sell your jewelry, coins, ingots or other gold objects. The transaction can be carried out in an agency as well as in a bank (if it offers this type of transaction). Where and how to sell gold at the best price? If, at first glance, the two means seem similar, a few major differences do exist and may be decisive for your choice.
In the bank: Cons
Depositing your gold in the bank means that this gold will be sold on the stock exchange. In addition to the inconvenience of not really owning your gold, you must take into account the costs often quite significant generated by this choice (such as shipping costs). In addition, all your gold coins will not necessarily be admitted to the markets. And if ever these parts are refused for deterioration, you will still pay the costs relating to the sending of these parts by your bank. Also include in your costs the maximum authorized transaction amount ($ 3,000) as well as the tax imposed on the transaction.
In branch: Advantages
First advantages; a simplified and advantageous procedure for the seller (you) since you can have the value of your gold estimated before making the decision to sell. At any time during the operation, you will have in your hands either your gold or its price. No risk and no doubt to be had. Finally, you benefit from a personalized service provided by seasoned professionals in the field.