Since the economic meltdown of 2008, people think harder about investing their money or define their status in society. Those who had gold weathered the meltdown better than those who had shares and people who believed certain financial institutions like banks were safe found out that they too can fall. The banking system had to be rescued by governments.
Buying gold is a good thing but what do you do with it when you need to liquidate?
Contrary to what you might have imagined, selling gold is not that difficult. There are gold buyers Australia wide who are looking to buy your gold. To find a buyer that is just right for you, there are a couple of things you will have to do:
Understand the type of gold you have
You can buy gold coins or gold bars. These have distinct differences. Coins allow for more flexibility. How? Think about it this way-You might have 10 gold coins and only need to cash in three. You can do that with coins but you can’t exactly divide a gold bar to get the amount of gold you need to sell. You will have to sell the entire bar of gold. Bars. So, gold coins are easier to sell than gold bars.
Who to sell your gold to?
Finding a local gold buyer or a coin shop might sound old- school especially with the internet opening up the world as it has but local buyer’s are still the obvious choice. Even if you don’t end up selling your gold to a local buyer, you can get information about the price and what other gold buyers are most likely to offer you. One important benefit of selling to a local buyer is that you will get your money immediately. You don’t have to ship anything anywhere which saves on shipping and insurance fees. Another benefit is that you can transact with the buyer face to face which brings a level of comfort and trust for some people.
Local gold buyers aren’t necessarily the best places for anyone to sell their gold. These physical companies have to factor in their overhead costs like rent and utilities on the price they offer to buy your gold for. This ends up reducing the amount of money you should be getting.
Online gold buyers
Online or mail-in gold buyers Offer one important factor: convenience.
When you sell your gold this way, you will get someone available online at any time or day of the week. On one hand, you can discuss the gold you have and what you are looking to get for it, on the other hand, the buyer can give you more information and clue you in what you need to know when selling gold. You can get a lot done, shop your gold to more potential buyers all in the comfort of your own home. You have access to gold buyers Australia wide when you choose this option. Because online buyers don’t have overhead costs, they can offer better prices.
As you search for dealers that operate throughout Australia online look at how transparent they are in how they conduct their businesses. Do they offer free shipping and insurance? Do they have some form of shipping and delivery process? Do they provide information about the kind of gold you have to sell and any information that may be helpful.
How do you choose?
The internet has thousands of precious metal dealers that are ready to buy your gold. How would you know the right buyer to choose?
Choose a buyer with a lot of experience. Look for online ratings and when you do that, look at repeat customers.
A word of caution: there are sites that may carry a Trustpilot logo that aren’t legit. To verify the legitimacy of a Trustpilot rating, you should go directly to the Trustpilot’s website and conduct a search of that company.