When you sell gold bullion, you can get instant cash, and you don’t have to wait for a cheque to clear or for the money to be reflected in your bank account. A trusted buyer is available to make you a good offer relative to market prices, and you can get quotes for free even if you don’t sell to a particular buyer. Also, you can get the highest price possible if you do your homework. Since gold dealers buy below the spot price to stay in business, their prices are entirely different, so shop around and see which dealer is paying the closest to the spot price.
Finding a Dealer
To find a good dealer, consider how long the company has been in the business. A company that has been operating for many years is more likely to have knowledgeable gold bullion and experts who can offer you a comprehensive appraisal. A good dealer should have state-of-the-art equipment to test the purity of your gold in case you selling scrap jewellery with your bullion. Also, the dealer should offer a fair and honest price for your merchandise. After verifying that your product is genuine, the dealer should offer to pay you cash or instant RTGS payment into your nominated bank account.
Selling your Bullion
The good thing is that some dealers make it very easy for you to sell gold bullion. That’s because they have set up a website and can see what they pay for the different weights that are displayed on their homepage. So all you have to do is to compare the coins and bars in your possession with what is shown and then head on into town. However, if your item isn’t on the list provided, you need to contact the dealer to receive a quote. Make sure the dealer’s website has live updated prices in line with the world spot price, this shows transparency and ensures no hidden surprises upon arriving at the dealer’s office to sell.
No Appointment Necessary
Dealers also welcome you if you walk in off the street to sell gold bullion. You don’t need to set up an appointment or call ahead. You will be ushered into their showroom where they will appraise the gold in your presence. After the dealer evaluates your gold items, they will make you a cash offer. If you’re happy with the price, you can walk out with cash. You can also ask for the money to be deposited into your bank account. Most dealers use RTGS payments which are fast instant transfers between banks.
Identification Required
Remember to carry your identification so that you can be allowed to sell gold bullion. The law states that anyone who transacts bullion worth AUD 5,000 or more should identify themselves to the dealer. A dealer uses a standard 100-point ID check typically. You can use your driver’s licence, passport, or a utility bill that shows your home address. There’s also an age requirement, and you must be 18 and above to carry out such a transaction. Your privacy is guaranteed, and any information you provide is kept strictly confidential.
