Gold has always been deemed as a good investment with the Gold spot price increasing by 83% over the last decade, many people buy and hold gold to benefit from this value gain. Difficulty can occur when it comes to selling your physical gold, and knowing what the easiest and best type of gold to sell can guide you when coming to buy again in the future.
Choosing to invest in a physical gold that is easy to sell can provide quick liquidity when its needed the most.
1. Selling Gold Bars
Gold bars also known as Gold bullion which is at least 99.5% pure and because of its purity this makes it the most valuable and easiest type of Gold to sell. Gold bars are normally produced by accredited refiners and mints. This means the Gold content of the bar has been accurately and precisely measured and recorded. Gold bars are usually stamped by the mint/refining body and gold purity and are the most trusted type of gold to trade with.
Gold Bars tend to be seen as the safest investment in economic uncertainty because even if a country’s currency rapidly loses value, the gold value may likely stay stable. Because gold bars are in the purest gold form without contaminants they are seen as an investment, they will always have international demand.
What to Look For in Gold Bars
By law, gold bars must have markings with descriptive information, including:
- Serial number
- Characteristic
- Weight
- Manufacturer
- Origin
You can use this information, along with the current price of gold, also called the spot price, to make sure you’re getting the best bang for your buck for your gold.
What to Know About Selling Gold Bars
You must sell gold bars to a specialised bullion bar buyer. Non-specialised buyers or general pawn brokers often offer less money for bullion bars because their business isn’t geared specifically toward bullion.
Selling gold bars will provide you with the least amount of loss compared to your purchase price, compared to gold jewellery for example. As the bars can be resold in its current form with no need for any processing.
2. Selling Gold Coins
Gold coins are just as pure as bars. This can include sovereign coins, krugerrands, Britannia, and other gold coins. Gold coins come in a wide variety and even wider conditions and grades. Even if your gold coins are in poor condition, they’re still valuable and can make you a good amount of money. Selling Gold coins can be just as easy as selling gold bars when sold to the right reputable dealer.
What to Look For in Gold Coins
Gold coins can be a little trickier to figure out the value of before asking for a valuation from a gold dealer. This is because they don’t have the same markings clear gold purity markings as gold bars, so identifying carat purity and gold content can be more challenging especially on older ancient coins. This can add a layer of difficulty. The easiest way to try and identify your gold or silver coins, is to find similar coins online. You search certain characteristics of your coins design and try and located similar coins online. The often difficulty faced identifying the purity of your coins, is why we place coins just slightly below gold bars.
What to Know About Selling Gold Coins
Using a reputable gold coin dealer is important for selling gold coins as well because reputable dealers can do the same level of business with gold coins as with gold bars because of their similar purity. They’re also more likely to give you a fair price. Because gold coins are trickier for people to know the exact cost of, it’s all too easy for disreputable buyers to take advantage of a lack of knowledge and pay less than your gold is worth. Reputable dealers have some skin and are motivated to make good deals. They also have access to more information and can better value gold coins.
3. Selling Gold Jewellery
The Gold content in jewellery can vary greatly. Gold jewellery holds sentimental and aesthetic value in addition to its intrinsic worth. Often Gold jewellery sourced internationally does not follow our hallmarking standards or is missing hallmarks altogether. When looking to sell Gold jewellery it can often be a bit trickier to sell compared to Gold bars as the gold can be adorned with gem stones and other metals. For this reason, the jewellery may have to go through more processing steps to extract the pure gold thus potentially reducing the valuation price for a bullion dealer.
What to Look For in Gold Jewellery
You’ll need to know the caratage to ensure you get a fair price for your jewellery. A carat is the measurement of pure gold combined with other metals. 24-carat (24ct) gold is pure gold with no additional metals. Anything below that will contain less gold and more different metals. For instance, 18ct gold is 75% pure gold and 25% other metals. The closer to 24ct, the more refined, more valuable, and therefore easier to sell your gold jewellery is.
What to Know About Selling Gold Jewellery
Once you know the caratage, you can determine the value with the right formula. We go into depth on calculating caratage in our blog to ensure you’re selling your gold at the right time. Selling your gold at the right time and to the right reputable dealer will help you get the most out of selling gold jewellery. It’s important to know you pay a premium on the gold weight when buying jewellery, as the item has been designed, manufactured, marketed and retailed. All these additional elements add cost to your buy price. When coming to sell the actual scrap gold value in jewellery is often considerably less than the purchase price.
4. Rolled Gold
Rolled gold is gold bonded to a base metal through a mechanical process. This creates a beautiful golden finish that looks like solid gold but comes at a fraction of the cost.
What to Look For in Rolled Gold
Rolled gold is often marked to indicate how much gold is actually in it. The markings can be percentages, parts per thousand (ppt), or fractions. For example, 1/20 12k RG means that a piece is 1/20th rolled gold by weight, with a 12kt gold layer. The higher the fraction or percentage, the more gold content and the more valuable.
What to Know About Selling Rolled Gold
Because rolled gold requires extensive processing in order to extract the Gold content. Pricing on Rolled Gold can often be placed around the price per gram of silver.
5. Dental Gold
For decades, gold has been used in dentistry for fillings, crownings, bridges, inlays, or grills. It’s a practical material, but it can also mean you might have a mouth full of money on your hands.
What to Look For in Dental Gold
It’s important to know that dental gold is a gold alloy, not pure gold. The percentage of pure gold in your dental gold will determine its worth. If you’re unsure about the amount of pure gold, you can bring it to a certified valuer or gold dealer to be tested.
What to Know About Selling Dental Gold
Selling Dental gold will be easy to sell and fetch you the best price at a reputable gold buyer. This is because the extraction technique can be expensive for cash for gold companies, making them unwilling to take the gold (or willing to give you a worse price for it). It’s best to go to a gold exchange professional with dental gold.
Visit Cheshire Gold to Sell Your Gold
At Cheshire Gold Xchange, we buy gold professionally. We pride ourselves on giving the best price for various easy-to-sell gold pieces. We offer the fairest market rates for your gold, offering you the best place to sell quickly and easily. Get an estimated quote over the phone at 01925 387 107, or have a face-to-face valuation at Cheshire Gold XChange.
