How Do You Exchange Gold Bars For Cash?
One of the great things about investing in gold is gold’s liquidity. When you are ready to cash out and sell your gold bars for cash, it is very easy to do. The same cannot be said for real estate or other types of investments that can take a long time, knowledge, expertise, hoops to jump through, waiting periods, and paperwork. If you need cash and are ready to sell, keep reading to learn more about how to exchange gold bars for cash and get your gold bars for sale.
Decide on the Right Time to Sell
If you’re thinking about dipping into your savings and put your gold bars for sale, you might want to decide whether or not it is really the right time. While it is a very personal decision, it is important to consider a few factors, including:
- What is the price of gold right now, and how has it been trending lately?
- Does the gold you own have any sentimental value to you?
- Do you need your cash for an immediate need, such as a large bill?
- Do you need your cash for something in the future, such as a down payment on a house?
The great thing about investing in gold, especially if it is part of a Gold IRA, is that you don’t need to part with all of it. You can sell part of it, allowing you to keep some in savings, or you can go big and sell it all. Either way, it is up to you, and gold will always be there for you to buy back again.
Consider the Type of Gold You Have
When it comes to investing in gold and selling it, not all gold is created equal. One important thing to consider when it comes to the value of your gold is learning more about the type of gold you have. These can include:
- Is your gold bullion or is it a collectible?
- Was your gold made for government-backed currency or was it made by a private mint?
- Do you have gold bars or gold coins?
- Is your gold one of the more popular types of gold, such as American Eagles or polished bars?
Find the Best Way to Sell Your Gold
Finally, there are 3 ways you can put your gold bars for sale. These include:
- Open Market Sale. In an open market sale, you sell your gold portfolio yourself. You determine what you want to sell it for and wait for a buyer who is willing to pay it. The advantage to this method is you will get the highest price possible, however, it takes more effort and time. Several online auction outlets are available, but you must also account for the fees associated with using their services. Also, be prepared to dedicate the time needed to facilitate the transaction. There will be no minimum hold required.
- Consignment Sale. In a consignment sale, you let a company (like Priority Gold) sell it for you. We will bring it to the front of the line and sell it to the market through our active trading floor. This option prices your portfolio based on our current market ask price, less 15%, which covers all marketing, transactional, shipping, and insurance costs related to selling your item(s) to a new buyer. This option is ideal for those seeking a reasonable value and who have the time, allowing us to sell their portfolio item(s) for them, without allocating personal time to sell on their own. There are a lot more ins and outs when it comes to this method as far as terms and conditions (read more about it here), but it is the easiest way for you to sell your gold while getting the best price possible.
- Immediate Liquidation Sale. If you want to sell quickly, this option is available to expedite your requirement for immediate liquidity with zero fees or charges from us. (You are responsible for the shipping and insurance fees required to deliver your metals to our facility). Bullion metal products are predominantly sold under this option because the price we typically offer for immediate liquidation of bullion is the same price you could achieve under options 1 and 2 above, before fees. This option is also available for Investment Grade Coins and numismatic coins, but will usually yield a lower price than options 1 and 2 above. This option has no minimum hold time and is available at any time, for any reason. No questions asked.
About Priority Gold
At Priority Gold, we believe that an important consideration for any investment is liquidity and, fortunately, you will never have to worry about liquidity since history proves that there has always been a liquid market for gold, silver, platinum, and other precious metals. Our clients receive assurance in the security of their investment by providing multiple options for those wishing to sell any portion of their portfolio or pursuing to divest their entire portfolio.
We are one of the most trusted precious metals dealers in the United States with BBB A+ Rating, AAA Rating with Business Consumer Alliance, and 5 Stars Rating with TrustLink. We specialize in providing precious metals investment services with Security, Liability, and Great Convenience for customers. Our team is committed to helping to streamline their precious metals purchases at a fair price, selecting the right precious metals portfolios, and meeting their important financial objectives.
We offer Free Storage for qualifying Gold & Silver IRA accounts, a fast & easy gold buying process, and smooth IRA Transfer. And gold shows up on schedule. Priority Gold guarantees the highest standards of customer service, which comes with honesty, professional conduct, and the Ethical Code of Business.
For more information, visit us at prioritygold.com