There is a reason gold has been used as the standard measure of wealth for over 5,000 years. There is also a reason why each country in the world has vast amounts of gold in their national reserves. Unlike paper currency that is prone to inflation by governments, it is consistently heading towards its intrinsic value, that is zero, gold is relatively stable and will never be worthless like paper currency.
While it may take several years for gold to appreciate in value, once it does, it is doesn’t stride back. This explains the reason more individuals and institutions opt to save their assets in form of gold and other precious metals like silver. It also explains the recent increase in the number gold bullion dealers appearing in the marketplace. Nonetheless, there comes a time when you need to sell the gold bullion you have saved for cash. When that time comes, the trick lies in identifying the best place to sell gold bullion.
Finding your local gold dealers to sell your gold bullion:
When selling your bullion, you don’t just need gold dealer that advertises attractive and competitive rates in the market; you also need an assurance the legitimacy of the dealer and that you will get paid. Therefore, before settling on a particular buyer here are a few considerations worth checking:
- They are licensed in their respective states
In most cases, licensed gold dealers won’t shy away from displaying their certificates of registration or incorporation on their websites. But if your preferred company has not presented one, consider asking them to email you or your agent a copy.
- They are members of a national gold buying association
Most countries with huge gold reserves like America, Australia as well as most European nations have nationally recognized and well-structured national associations of bullion dealerships. These form authentic reference bases when identifying the best place to sell gold bullion.
- Practical and transparent buying process
The best buyer should have the most attractive and transparent gold buying process. Be wary of buying agencies that ask you to ship your gold on the promise of wiring the money upon receiving it. A genuine precious metals buyer requests that you physically present your gold at their shop and offer you whatever payment method you desire whether it be cash, cash cheque or EFT after assessing your gold and silver bullion’s value.
- Transparent pricing procedures
Importantly, when considering the best place to sell gold bullion, give priority to gold dealers which provide clear pricing systems on their website. Avoid dealers who charge fees and commissions. You can figure out an approximate value to your gold or silver bullion from online pricing tables listed on the bullion dealer’s website. This is the best way to compare the prices of various gold bullion dealers and help identify the company offering the best value for your gold.
It is natural for humans to be attracted to the highest prices for your precious metals, especially when determining the best place to sell gold bullion. But be careful and check the different gold buying companies wisely.