If you win any amount of gold bullion, the gold doesn’t comein the form of bars you physically have to collect and store (unless you want it to). When you win gold bullion, you can take possession of it or sell it for its value in cash. The precious metals experts from First National Bullion, the professionals to consult about every aspect of owning San Diego gold and bullion, offer the following advice about your options.
Assessing the Value of the Gold Bullion
The value of gold bullion is based on its purity and rarity. The bullion must be made from new gold at its purest level of 24 carats. To gauge the value of gold bullion, the old fire assay method is used along with contemporary spectroscopic instrumentation. This ensures the quality of the gold bullion is accurately determined and its exact worth is paid to completion, sustaining its security as an asset.
Making Money from the Gold Bullion
You can decide to hold on to your gold bullion and sell when prices are high. However, the market can’t be predicted. Timing is critical, which makes gold bullion a long-term investment. The main objectives of any investment are twofold—to generate money and to safeguard and diversify savings. Gold is among the best investments that can be used to achieve the second objective of shielding and branching out savings. Gold has always been precious. It provides options to invest in shares, stocks, or even government bonds. You can generate money from gold through trading in shares and stocks, even if sometimes the long-term safeguarding of your wealth should be prioritized when buying gold.
Selling the Gold Bullion
There are many registered bullion dealers, but first you have to do a thorough search by looking for competitive premiums and commission rates. These are the factors you need to consider before selling the bullion:
- The current price of gold bullion – this is the price of pure bullion
- Weight and purity – pure gold bars are either .9999 or .999 pure
- Gold bar melt value – this can be estimated by the buyer
- Premium – this refers to the price added to the melt value of the gold bar
Deciding Where to Sell Gold Bullion
Pawn shops are suitable for quick cash, but you won’t find the highest value for your gold bullion at these places. eBay might be a convenient way of selling the bars, since it has high traffic, but there’s no predictability with the bidding and the lack of specialists. Worthy customers are convenient, since they ensure you get the best value for your gold. Another way of selling or even buying gold is by visiting a jewelry store. When the local jewelry store buys your gold, they usually turn around and sell it to dealers. Until your gold bullion is sold, it’s usually stored safely until you decide what to do with it.
If you’re looking for the best place to sell gold in San Diego, 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 858-666-6570.
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.