Monday, June 28, 2010

Gold Bullion Selling Tips

Gold Bullion Selling Tips

If you’re thinking of cashing out on your gold bullion, consider these selling tips to help you get a higher price.

  • Keep your gold bullion coin or bar in a protective case. The less handling there is, the greater your chances of being offered a better price. In fact, a bullion that is touched, rubbed, or played with tends to decrease in value. The reasons for this is the fact that the gold content could decrease and the face of the coin could be diminished over time with frequent handling.
  • Bullion coins or bars that weigh less than 1 oz are more difficult to sell than the usual 1 oz weight. However, it does not mean it is valued lower, just that the demand for this kind of bullion is not as high as with the 1 oz bars or coins
  • The price of gold changes every day, just like currency, so you need to know what the day rate is. Usually, gold is a good investment with little fluctuation in price, but it does happen sometimes that the price drops considerably
  • Selling your bullion is easier if you approach a gold dealer with a good reputation. You can also ask a coin dealer for his best offer before you make your decision who to sell your bullion to
  • Selling your bullion over the internet has more risks because you have to take more precautions, including insurance when shipping your bullion to your buyer. Also, the risk of not getting paid is very high so be sure you get paid and the check, Paypal, or deposit clears before you ship your bullion out. The terms should also be clearly stated to avoid any confusion or problems during or after the transaction 

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