Hi,
The best reason people purchase physical gold is for the peace of mind that comes along with it. It’s more than just the journey of rising prices; it’s the feeling of owning tangible wealth that you can turn into cash in case the unexpected happens in your life. But what is the process of cashing in on the gold you own?
The short answer: easier than most people think, especially if you bought the right way.
Gold is One of the Most Liquid Assets You Can Own
“Liquidity,” in this context, refers to the ease of converting an asset into money without substantially reducing its value. Gold appears towards the top of this list. In this regard, it should be noted that while it can be considered similar to real estate or antiques, it has an actively traded market that displays prices minute by minute.
When you go into a trustworthy bullion seller with known gold items in hand, you will not be negotiating in the dark because the price is well linked to the real-time gold spot price.
What Makes Gold Easy (or Hard) to Sell?
However, not all gold is the same when it comes to ease of sales. The following are the most important considerations:
- Established mints such as Gold Maples or popular bars
- Standard weights (1 oz, 10 oz, fractional)
- Good condition and authenticity
Such factors lower the verification period as well as the uncertainty associated with the buyer; hence, this increases the speed of the entire process as well as the prices offered.
Products that are not so well known could still be sold, but they could need further testing or could translate to more conservative offers.
How the Selling Process Usually Works
In most people’s experience, the process of gold-selling is not very complicated. It involves taking your gold to the dealer and having the pieces weighed and analyzed for gold purity before being offered a price based on today’s rates.
In dealers, this whole process takes place within the same day. There’s no waiting for the buyer and no cost of listing involved in this whole process.
After settling on a price, payment is often swift, sometimes instantly.
Do You Lose Money When You Sell?
Gold isn’t designed for day trading by any means. There definitely could be price volatility, and gold has a great record for preserving its value over time.
If you are a buyer at a premium and are now selling in a strong market, you might be surprised at how close your buyback price is to spot. The secret here is having a good dealer and knowing how the prices work.
Why Where You Buy Matters Just as Much as Where You Sell
If you buy from a reliable dealer, then selling will become much simpler down the line. Good dealers will usually buy back what they have sold you, and they will always comprehend the items on the spot, no questions asked.
At AU Bullion, we believe it should be easy to buy gold, easy to own gold, and easy to sell gold. When you genuinely need money, what you want is simplicity. Gold should never be a problem. Owning gold is more than just having a safeguard. It is having the flexibility that matters most.
