Gold is a good investment to have especially when the economy is doing poorly. The price of gold usually goes up in such cases and many people who have gold bullion cash out for a sizeable profit. Technically gold bullion is a term used for investment grade gold made with 95.9% – 99.9 % gold. Gold bullion is often regarded as a longterm investment. Most people buy it without having any plans on when they will sell. Some people inherit the gold and can choose to pass it on. Regardless of how you came about your gold, it is important for you to learn a few things about gold bullion before you make any decisions on what you should do with it.
When we talk of bullion we are mainly talking about gold bars or gold coins. First thing to do is to determine the kind of gold bullion you have. Gold bullion coins are issued by various government mints around the world. The most famous gold bullion coins come from the United States, South Africa, Canada, Mexico, Australia and Austria. These coins weigh about an ounce and they are convenient to have and sell because they are small enough to carry around and there are always bullion dealers who will accept them. Gold bullion bars are bigger and bulkier which makes them difficult to sell.
The higher the quality of your gold coins the more valuable they are. To keep your coins in good condition do not remove them from their protective cover. The less wear and tear there is on your gold the better the price you will get when you sell. Cleaning your gold coins might sound like a sensible idea but it is bad. Cleaning your coins or even touching gold coins with your bare hands can leave scratches that will affect the value of coin
#1. Go online and find the price of gold. The value changes on a daily basis, so check the daily updated prices before you sell.
#2. Look at your bullion for scratches, nicks and even fingerprints. You may know the price of gold, but that is the price for good quality gold bullion coins. Any signs of damage will affect the price you can get for your bullion.
#3. When selling your gold bullion do not sell to the common cash-for-gold buyers, they have a tendency of treating all gold products the same. Gold bullion should not be treated the same as scrap gold. Their prices also tend to be low. You should sell gold to a bullion dealer who specialises in gold bullion. Look for a dealer with a good reputation. Someone who is well known in your area.
#4. There are online bullion dealers that make selling your gold easy from the convenience of their homes by going online. This can be useful for small bullion bars and coins. Before you sell gold online via a gold pack, know the risks of sellinggoldonline. Always ensure that the gold you send by mail is insured and also get some payment guarantee from the dealer.