Best Way To Sell Gold?

[gemee]

Watching the price of gold shoot up in recent months (yes, I know it has gone down a bit now) got me to wondering how I would sell my gold if the price reached one where I thought I should sell at? WHERE do I sell it? Who do I sell it to?
Hypothetically let's say gold were to hit 2500.00 an ounce and I wanted to jump on selling my little stash. Where would I take it for the best price? Also could coin dealers, jewelers, smelters, simply refuse to buy gold off an individual during high price periods,..making a person somewhat "stuck" with what they had? A dumb question,..but one that I have wondered about. After all, any coin shop and gold exchange could simply say "We are not buying" when gold reaches a premium. Where would a person go to get a fair market price?

 

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[udon1nano]

Most big cities will have at least one large refiner that will both buy and sell gold and silver in various forms. For example, I have dealt (buying only) with Garfield Refining in Philadelphia. THere are some thing you should keep in mind. A refiner is in business to make a profit, so don't expect to get Kitco spot quote prices. They will want to assay a sample before making an offer. You will need to provide id, and the transaction may be reported to the IRS per regulations.
When Selling Buillion
https://sdbullion.com/irs-gold-buying-reporting-selling-privacy

 

[1637]

post what city you are close too and someone will come on there and tell you.
brad

 

[gemee]

post what city you are close too and someone will come on there and tell you.


Los Angeles/Central Ca.

 

[fistfulladirt]

Easiest way? Local coin/jewelry dealer or pawn shop.
Best price? Ebay, but there’s a fee. Refiner, you may need a minimum quantity and lately some won’t deal w/public.
I’ve been following PM’s since 1977 and I’ve never heard of a dealer not buying during high prices, (but their offer may be lower (or much lower) than the current gold price) but I suppose anything’s possible.

My opinion is that gold’s value doesn’t change. It just takes more or less paper to buy it. It’s the paper’s value that goes up or down, not gold. Kind of like a candy bar or a good steak, but that’s more about inflation than anything else.

 

[Mackaydon]

https://www.yelp.com/search?cflt=goldbuyers&find_loc=Los+Angeles,+CA
Don.....

 

[gemee]

"My opinion is that gold’s value doesn’t change. It just takes more or less paper to buy it. It’s the paper’s value that goes up or down, not gold. Kind of like a candy bar or a good steak, but that’s more about inflation than anything else.[/QUOTE]

I'm starting to form the opinion that investing in gold is over-rated,...when in reality if dire times hit, wouldn't it be easier to buy a loaf of bread with currency instead of gold coins?

 

[fistfulladirt]

I’d not hesitate to sell you a loaf of bread for gold. I have never considered gold as an investment. It’s a store of wealth. I’d only sell if I were flat broke. Silver is what I’d use to buy bread. Gold I’d sell to buy a piece of property, or a hog, or expensive labor.

 

[fistfulladirt]

Consider what you pay for homeowners, auto and health insurance. I’ve paid tens of thousands of dollars with zero return. Gold’s a no brainer.

 

[DeepseekerADS]

Become a Charter Member and post it on the TNet For Sale forums......

 

[releventchair]

"My opinion is that gold’s value doesn’t change. It just takes more or less paper to buy it. It’s the paper’s value that goes up or down, not gold. Kind of like a candy bar or a good steak, but that’s more about inflation than anything else.

I'm starting to form the opinion that investing in gold is over-rated,...when in reality if dire times hit, wouldn't it be easier to buy a loaf of bread with currency instead of gold coins?[/QUOTE]

IF currency holds it's value , sure.
Gold is tangible.
Faith in paper money , not so much. In paper silver vs tangible , about the same.
Don't get me wrong , I have faith in this country.
But had more faith in it's currency when it stated on it that it could be redeemed for gold or silver.
And when I was a kid , silver certificates/dollar bills were still redeemable for silver.
What is our currency backed by today besides my faith?

Gold , depending on where in the world you are has a value/standard of it's own. Based only on it's own merit.
Yes , it's little brother silver is easier to negotiate small transactions with.
But how much silver can you carry and conceal? Vs gold.

As a fraction of a portfolio it's not so bad. If in hand , then fractional gold and can silver can exist if desired.
It's not earning interest. And can fluctuate in value. But precious metals simply are what they are. Subject to demand when and where and by whom like other commodities can be. While able to secure commodities as often or more as any given commodity. Amid their (commodities) wild fluctuations.