If a person wishes to sell their gold, they want to be sure that the buyer is, in fact, a reputable gold bullion dealer. With so many companies, it can be a real challenge to tell a reputable dealer from a dodgy one. The most important thing from the seller’s perspective is that they receive the right amount of cash for the amount of gold they are selling, and with that in mind, here are some steps that you should take prior to selling your gold to a buyer.
- Using an Online Search – If you search online, there are reputable gold buyers in Adelaide, and any other Australian city, and taking a look at their website will give you a good indication of who they are and what they are about. Having offices in the CBD of a city also tells you that the operator is established enough to occupy such a prestigious area of the city.
- Always Compare Spot Gold Prices – You should not take a single dealer’s word regarding the spot price of gold. By using the Internet, you can easily find out whether or not the price being offered is the correct spot price for the type of gold you are selling. Spot prices should be almost identical across the board, and if one is offering a little more than the others, this is the dealer to sell to. Of course, it is essential that you know both the weight and the purity of your gold. With that in mind, there are informative articles that highlight ways to check the purity of gold, which are a must read for any novice investor.
- Avoid Mail-In Buyers – There are organisations that say they will pay you an agreed sum for your gold after you have mailed it to them, and with the buyer taking possession of the gold before they pay you, this is not a healthy scenario. These mail-in gold buyers will offer to send you a prepaid envelope so the postage is free, and while there might be some reputable dealers who operate in this way, you are advised to take your gold to the offices of a reputable gold dealer, where you will be paid in cash when you hand over the gold.
- Know the Weight & Purity of your Gold – This is absolutely essential, as without this knowledge, you will never be sure whether you are getting a good deal or a bad one. A reputable gold bullion dealer would carry out purity tests in your presence and would also weigh the gold while you are watching. Any buyer that isn’t prepared to do that should be avoided for obvious reasons.
Once you have located a local reputable gold bullion dealer, whenever you wish to buy or sell gold, you can visit their website to check the spot price and if that is agreeable, pay them a visit at their registered office, where you will be paid the correct price if you are selling, and be sure that the gold you are buying is genuine.