Sell Gold Bar : Gold Bar Selling Prices
|Gold Bar in Grams||Price in £|
|0.50g Gold bar||£ 20.53|
|1g Gold bar||£ 41.07|
|2g Gold bar||£ 82.14|
|2.50g Gold bar||£ 102.67|
|5g Gold bar||£ 205.34|
|10g Gold bar||£ 410.69|
|20g Gold bar||£ 821.37|
|50g Gold bar||£ 2,053.44|
|100g Gold bar||£ 4,106.87|
|250g Gold bar||£ 10,267.18|
|15.55g Gold bar||£ 638.62|
|31.10g Gold bar||£ 1,277.24|
|500g Gold bar||£ 20,534.36|
|1000g Gold bar||£ 41,068.72|
Table of Contents
What’s The Best Way To Sell Gold Bars?
Selling bullion and making a good profit on the deal is as difficult as buying bullion profitably. It takes patience and attentiveness to details to sell gold bars at the best price.
When it comes to converting your gold bar into money, there are many online and offline options, particularly if you live in a big city. Of course, when selling, it is recommended to deal only with trusted dealers with knowledge and extensive experience in this area. The first thing you should never do is meet in public with a stranger in order to sell anything precious, as this can be dangerous.
Selling Gold Bars To An Online Dealer
One of the most reliable ways to get a good rate is to sell gold bars online to one of the significant online dealers who have a good reputation and adequate business systems. When you sell to an online dealer, you can usually contract with a fixed quantity and price either over the phone or online through the website.
When selling over the Internet, the dealer will probably take a security deposit from you in case you refuse to do your part of the deal.
When selling to an online dealer, they must provide you with the following information:
- Order number to identify a specific transaction
- Packing list to be printed and place inside the package
- The address to which the contract goods will be shipped
Then, within a few working days, you will safely ship your gold bars to the dealer and provide them with tracking information so that they can monitor the incoming goods.
Once the bars are safely delivered to the dealer’s address, the dealer will check the quality of the precious metal and pay according to their payment policy and your preference.
Selling Gold Bars To A Specialized Store
If you are looking for quick cash and generally willing to accept a lower price, then a local speciality coin store may be your best place to sell your gold bars. Before you get to the store, find out what are the average online rates for the products you sell. Also, find out what is the minimum amount you are willing to accept for your gold bars before the coin dealer convinces you to sell your items at a low price.
This may require receiving several offers in order to choose the most suitable one. Get ready to drive around town a lot. If you live in a city where there is only one shop selling bullion and coins, this will be a big disadvantage for you, as this bullion dealer has the ability to offer you a low rate. People who are in trouble are likely to sell their gold bars to him at prices that are much lower than market prices.
Selling Gold Bars Through The Marketplace
If time is of no importance and you are somewhat internet savvy, you might consider trying to get even more money from selling your gold bars by selling them on eBay. However, be careful if you go this route as selling bullion on eBay can be risky.
There are scammers on eBay looking for inexperienced gold bullion sellers to take advantage of. For example, criminals commit to buying your gold bars, and then, for example, they might try to change their payment method so that you don’t have an ability to make a last-minute payment check. After receiving a check from the buyer, you of course cash it in and ship the item, and then after 10-14 days you go to your bank account and you have negative funds because the criminal to whom you sold and delivered the bullion cancelled or printed a fake check. This is just one example of a scam that occurs on a site like eBay. If you decide to use this platform, you need to proceed very carefully and clearly know what to do in any situation if you start selling your gold bars on eBay.
How to sell gold bars correctly?
In addition, to know where to sell gold bars, you need to know how to sell them correctly at a price that is favourable to you. By following a few tips, you can do this in the best possible way.
The Right Time to Sell Gold Bars
Choosing the right time to sell gold bars can be both a personal and financial decision. If you are an investor in precious metals and are looking for the right time to sell to get the most out of your investment, keep an eye on the gold market for daily changes.
Determine Which Gold Bars You Are Selling
Sovereign mints are sometimes referred to as government or national mints. Products manufactured by sovereign mints are produced in that country as legal tender. Often a product is associated with the face value and legal tender legal status.
Private mints are privately owned and do not produce bullion as legal tender. In private mints, they produce products with their own brand or design, purity and metal content.