Selling gold bars?

[iamthelazerviking]

I can ask google and AI and whatever but I'd much rather discuss here with fellow paintball brethren.

I have several 5 gram and a 1 oz 99.99 pure gold bars from Perth Mint, and 30 ounces in silver coins. Selling the silver will be more simple but I'm curious if any of you have sold gold bars, and how you went about it.

I'll be checking with local coin stores, but from my brief searching it seems like selling gold in coin form is much easier than bars.

[Chuck E Ducky]

Reputable online bullion dealers or local bullion/coin dealers. These typically get you closest to the current spot price

1 oz bars are highly liquid and usually get the tightest spreads.

5 g bars are still easy to sell but can carry a slightly wider bid ask because of higher relative fabrication costs on small sizes. Recognized brands in original assay packaging sell best.

Keep any certificates, assay cards, or original packaging these help.

Current: $4,285.29 Oz / $137.78 g

Typically you can get 96% on the low side.

[heit1_32]

This was my recent experience at a reputable coin and bullion dealer in town. I was incredibly pleased with what they were paying vs spot price. They had a live ticker showing them their values for different things based on spot which was nice because it felt transparent and honest. Very pleasant experience, plan to visit them again!

[sonixr7]

You should have no problem selling gold bars/coins to local shops. Just keep in mind that you will never get top dollar. Only sell if you need to, don’t stress over the price because you need the money more than you need the stress.

[Glovebox Operator]

Shops will almost always pay under what spot price is, so call and see who's offering the best price and if they're even buying. Bars tend to be less popular than rounds, rounds are less popular than coins, and American coins are the most popular.

[Daltech]

Go to more than one buyer, I went to 3 shops. The first two were intentionally rude, the third was honest but not rude.

I suggest asking family members first, maybe someone you know has got some extra cash and is looking to diversify. Any nieces or nephews? Older family members? Emphasis on keeping the money in the family as opposed to a random reseller.

Name brand bars will sell just fine. Just don’t let them scrape it on a AU testing acid block, go to the next shop. You have a bar in the sealed serialized original packaging right? If you opened the packaging then expect some resistance.

[Daltech]

AU is one of the oldest forms of currency on earth, with that comes a significant history of counterfeit. All the way back to archimedes weighing AU crowns. Most people stick with recognizable name brands and minted coins from the major producers of AU coins. Think Australia, South Africa, UK, Canada, and US, Krugerrands, Eagles, Maples, etc. Also key to remember is the significance between spot pricing, and Numismatic value. As of recent, the spot price of AU has increased and the numismatic value of the physical minted coin has not.

[trashcollector]

Shame you aren’t closer. I pay spot.

[iamthelazerviking]

I'm open to shipping!

[Daltech]

[rawbutter]

My brother told me recently that he buys and sells his gold at Costco. Anyone else do that?

[Daltech]

I know someone that buys Ag at Costco, and I’ve seen 1/10th Au bars in the jewelry display at my local store. It’s definitely trusted, safe and semi reliable way to buy. I’ve never heard of them buying, that’s news to me if it’s possible.

[scottieb]

I would find a local gold/silver/bullion dealer. Build rapport, start a relationship, and give them your business.