Is it easy to get market value for gold?

[TheGreatGatsby]

This is a close enough cousin to the stock market; so this looks like a good place to do this thread.

Has anyone tried to sell gold bars or gold coins? Did you get the going rate? I assume that the buyers are shaving something off the top or else charging a fee in order to be in business.

 

[fncceo]

Sale of any commodity goes through a broker. That broker will list different prices for buy and sell that are above and below the spot price (respectively). That is how the broker gets paid.

Institutional buyers and sellers will get a better price, depending on the volume bought or sold.

 

[Cellblock2429]

This is a close enough cousin to the stock market; so this looks like a good place to do this thread.

Has anyone tried to sell gold bars or gold coins? Did you get the going rate? I assume that the buyers are shaving something off the top or else charging a fee in order to be in business.

/——/ Assuming you mean physical gold and silver, today gold is $1284.50 an ounce, you need to find a local refiner who will buy your gold to avoid the retailer markup. Do a google search for “gold refiner near me” This one offers $1282.50 Gold Refinery & Precious Metal Scrap Refining | Garfield Refining & Smelting

 

[william the wie]

Stick with coins because there is less chance of a problem. No one can know if a bar is gold or gold plated Tungsten without smelting. You get paid net of smelting.

 

[TheGreatGatsby]

This is a close enough cousin to the stock market; so this looks like a good place to do this thread.

Has anyone tried to sell gold bars or gold coins? Did you get the going rate? I assume that the buyers are shaving something off the top or else charging a fee in order to be in business.

/——/ Assuming you mean physical gold and silver, today gold is $1284.50 an ounce, you need to find a local refiner who will buy your gold to avoid the retailer markup. Do a google search for “gold refiner near me” This one offers $1282.50 Gold Refinery & Precious Metal Scrap Refining | Garfield Refining & Smelting

Good to know. I don't currently own gold (I do own a few 10oz bars of silver and some coins); but I wanted to know for future reference so that I can be liquid quickly without any great pains.

 

[Moonglow]

Sale of any commodity goes through a broker. That broker will list different prices for buy and sell that are above and below the spot price (respectively). That is how the broker gets paid.

Institutional buyers and sellers will get a better price, depending on the volume bought or sold.

There is always the black market where you can trade also.

 

[Cellblock2429]

This is a close enough cousin to the stock market; so this looks like a good place to do this thread.

Has anyone tried to sell gold bars or gold coins? Did you get the going rate? I assume that the buyers are shaving something off the top or else charging a fee in order to be in business.

/——/ Assuming you mean physical gold and silver, today gold is $1284.50 an ounce, you need to find a local refiner who will buy your gold to avoid the retailer markup. Do a google search for “gold refiner near me” This one offers $1282.50 Gold Refinery & Precious Metal Scrap Refining | Garfield Refining & Smelting

Good to know. I don't currently own gold (I do own a few 10oz bars of silver and some coins); but I wanted to know for future reference so that I can be liquid quickly without any great pains.

/——/ Yes they can. The objective is to get the best possible price, make sure you have the days gold price on your smartphone when you talk to the dealer.

 

[Moonglow]

This is a close enough cousin to the stock market; so this looks like a good place to do this thread.

Has anyone tried to sell gold bars or gold coins? Did you get the going rate? I assume that the buyers are shaving something off the top or else charging a fee in order to be in business.

/——/ Assuming you mean physical gold and silver, today gold is $1284.50 an ounce, you need to find a local refiner who will buy your gold to avoid the retailer markup. Do a google search for “gold refiner near me” This one offers $1282.50 Gold Refinery & Precious Metal Scrap Refining | Garfield Refining & Smelting

Good to know. I don't currently own gold (I do own a few 10oz bars of silver and some coins); but I wanted to know for future reference so that I can be liquid quickly without any great pains.

Luguid quickly is a relative term of means yet the time you find out to the time you can sell is eschewed for profit. Silver still around fourteen?

 

[Moonglow]

I like to do the gold coins since if kept perfect retain their value and increase with market and collectability.

 

[Moonglow]

Buy from the US mint for the lowest prices..

 

[fncceo]

Sale of any commodity goes through a broker. That broker will list different prices for buy and sell that are above and below the spot price (respectively). That is how the broker gets paid.

Institutional buyers and sellers will get a better price, depending on the volume bought or sold.

There is always the black market where you can trade also.

I'd be very surprised if a black market trader took less of a profit of the trade than a broker. Not a good business plan.

 

[Moonglow]

Sale of any commodity goes through a broker. That broker will list different prices for buy and sell that are above and below the spot price (respectively). That is how the broker gets paid.

Institutional buyers and sellers will get a better price, depending on the volume bought or sold.

There is always the black market where you can trade also.

I'd be very surprised if a black market trader took less of a profit of the trade than a broker. Not a good business plan.

Well usually you trade wit da stuff yous borrows...

 

[TheGreatGatsby]

This is a close enough cousin to the stock market; so this looks like a good place to do this thread.

Has anyone tried to sell gold bars or gold coins? Did you get the going rate? I assume that the buyers are shaving something off the top or else charging a fee in order to be in business.

/——/ Assuming you mean physical gold and silver, today gold is $1284.50 an ounce, you need to find a local refiner who will buy your gold to avoid the retailer markup. Do a google search for “gold refiner near me” This one offers $1282.50 Gold Refinery & Precious Metal Scrap Refining | Garfield Refining & Smelting

Good to know. I don't currently own gold (I do own a few 10oz bars of silver and some coins); but I wanted to know for future reference so that I can be liquid quickly without any great pains.

/——/ Yes they can. The objective is to get the best possible price, make sure you have the days gold price on your smartphone when you talk to the dealer.

What's their cut?

 

[Cellblock2429]

This is a close enough cousin to the stock market; so this looks like a good place to do this thread.

Has anyone tried to sell gold bars or gold coins? Did you get the going rate? I assume that the buyers are shaving something off the top or else charging a fee in order to be in business.

/——/ Assuming you mean physical gold and silver, today gold is $1284.50 an ounce, you need to find a local refiner who will buy your gold to avoid the retailer markup. Do a google search for “gold refiner near me” This one offers $1282.50 Gold Refinery & Precious Metal Scrap Refining | Garfield Refining & Smelting

Good to know. I don't currently own gold (I do own a few 10oz bars of silver and some coins); but I wanted to know for future reference so that I can be liquid quickly without any great pains.

/——/ Yes they can. The objective is to get the best possible price, make sure you have the days gold price on your smartphone when you talk to the dealer.

What's their cut?

/——/ See post #3 for an example.

 

[Pavel Svinchnik]

I bought some U.S. 90% silver coins a while back, old issues like Mercury dimes and Standing Liberty quarters. Could be used to trade with the natives in a Mad Max future, sold if finances get tight, or passed on to the grandkids when I'm gone.

 

[Pavel Svinchnik]

This is a close enough cousin to the stock market; so this looks like a good place to do this thread.

Has anyone tried to sell gold bars or gold coins? Did you get the going rate? I assume that the buyers are shaving something off the top or else charging a fee in order to be in business.

This site shows the current bid/ask (buy/sell) prices in the box in the upper right corner of the page.

Golden Eagle Coins

 

[Picaro]

It depends. We're getting anywhere from $120 to $130 over the exchanged listed prices currently, so you might do better by avoiding the brokers at this point in time. I have both coins and kilogram bars and have no problems with selling or buying either, though I have a lot more in kilos than coins these days. I also keep good records of sales and purchases, and keep my averaged prices both for my total mounts, and my recipients are valid and help out a lot when selling and buying the kilos, which have serial numbers on them from the smelter wholesalers; that way I avoid any IRS hassles over how long I've held a given lot. I get audited often anyway, due to filing W-2g's every year for both me and my wife, so it's a habit now and not much of a hassle any more. as an aside Mexican Gold Pesos are hot now; they're high quality and popular with collectors.

Unless you live in Namibia or Cairo on Thailand or something, fraud is actually pretty rare among American dealers, as they tend to know each other and their customers pretty well. Different story with the gold paper peddlers and some of the penny stock mining companies.

 

[Picaro]

This is a close enough cousin to the stock market; so this looks like a good place to do this thread.

Has anyone tried to sell gold bars or gold coins? Did you get the going rate? I assume that the buyers are shaving something off the top or else charging a fee in order to be in business.

/——/ Assuming you mean physical gold and silver, today gold is $1284.50 an ounce, you need to find a local refiner who will buy your gold to avoid the retailer markup. Do a google search for “gold refiner near me” This one offers $1282.50 Gold Refinery & Precious Metal Scrap Refining | Garfield Refining & Smelting

Good to know. I don't currently own gold (I do own a few 10oz bars of silver and some coins); but I wanted to know for future reference so that I can be liquid quickly without any great pains.

/——/ Yes they can. The objective is to get the best possible price, make sure you have the days gold price on your smartphone when you talk to the dealer.

What's their cut?

You can find both wholesale and spot prices, and retail prices at most gold sites, and the WSJ also lists the bid and buy premiums above the listed commodity prices daily as well. It will vary slightly from place to place, but it's a good guideline. There isn't any big discounts via haggling, due to all the info out there, except in the futures options months out and rumor and innuendo about mine production and such as that. It's a pretty straightforward business and not complicated. Of course if you're a speculator and just can't stand to leave anything alone, you will eventually lose your shirt like with any other trading compulsion.

 

[Picaro]

Sale of any commodity goes through a broker. That broker will list different prices for buy and sell that are above and below the spot price (respectively). That is how the broker gets paid.

Institutional buyers and sellers will get a better price, depending on the volume bought or sold.

There is always the black market where you can trade also.

I'd be very surprised if a black market trader took less of a profit of the trade than a broker. Not a good business plan.

The black market in U.S. dollars is far far bigger, especially in Africa and Asia. Why lug gold around when you can smuggle paper currency instead?

 

[Cellblock2429]

Sale of any commodity goes through a broker. That broker will list different prices for buy and sell that are above and below the spot price (respectively). That is how the broker gets paid.

Institutional buyers and sellers will get a better price, depending on the volume bought or sold.

There is always the black market where you can trade also.

I'd be very surprised if a black market trader took less of a profit of the trade than a broker. Not a good business plan.

The black market in U.S. dollars is far far bigger, especially in Africa and Asia. Why lug gold around when you can smuggle paper currency instead?

/——/ I’d rather lug a pound of gold than a pound of dollar bills.