Gold bullion is simply gold in physical form with a high degree of purity. It’s typically in the form of bars, ingots, or gold coins. Scottsdale collectors might think gold in these forms would be easy to sell, and it can be, since it’s an appealing precious metal for many collectors and other buyers. To get a fair price and enjoy mutually beneficial transactions, there are some things to keep in mind.
Know the Value of Your Gold Bullion
Gold is sometimes inherited, or it may be something you acquired secondhand or through other means. Regardless of how you acquired your gold bullion, verify its value before you sell it. The selling process will be much more beneficial for you if you know for sure you’re getting a fair offer for your gold bullion.
On a related note, just because you have gold coins doesn’t mean you have bullion. Value and buyback prices can vary greatly depending on what you’re actually holding. This is another reason to have your gold officially appraised before you sell. Doing so will also give you valid documentation, which can give you an advantage when selling.
Determine if It’s the Right Time to Sell
Gold prices tend to remain fairly steady. Even so, it never hurts to know what’s trending in the precious metals market before you sell. Also, consider if it’s really the right time for you to sell. For instance, if you have gold bullion you inherited, it’s understandable to consider possible sentimental or future value before you sell.
It’s also a good idea to know what’s motivating you to sell in the first place before you explore your options. Common reasons people make this decision include:
• Paying off college tuition or other large financial obligations
• Preparing to make a big purchase, such as a house or car
• Needing immediate cash for significant bills
• Making investments in other precious metals
Work with a Reputable Buyer
You can easily find places to sell your gold bullion online. However, you’re likely to have a better experience if you go with a reputable precious metals firm. Otherwise, you could run into some unsavory characters who may be aggressive and deceptive when negotiating if you don’t check buyers out first.
And while there’s something to be said for face-to-face negotiations with a local coin dealer or pawn shop, they may try to lowball you or convince you to accept a lower price than what your gold bullion is actually worth. A reputable precious metals firm, on the other hand, is more likely to make a fair offer.
Become Familiar with What’s Popular
There are many gold bullion products, and not all of them are highly sought after, even by reputable buyers. The selling process can be easier if you focus on selling anything you might have that’s considered popular or in demand. Gold bullion products of this nature include:
• American Eagle gold bullion coins
• American Buffalo gold bullion coins based on the iconic 1913 silver nickel design
• Gold bars, since each one is stamped with its exact gold weight and fineness as well as a serial number
• Gram gold pieces
• European gold coins
If you’re looking for the best place to sell gold in Scottsdale, make sure to work with trustworthy precious metal dealers who offer high-quality service and have years of experience. Call on the industry-leading professionals at First National Bullion when you’re ready to buy or sell precious metals, including gold, silver, platinum, and palladium. Give us a call today at 480-546-8928.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.