Cost of selling gold

liberatortoo

What are the costs incurred when you sell gold?

tradetime

Bit too vague of a question, what form is it in, and who are you selling it to.

catrock

take scrap gold to any reputable jeweller, he should give you the market price, less a little bit of commission,

exm

Isn't it like online gold buyers will pay more due to overheads?
I guess in the case of those depending on whether or not delivery is provided it is cost of delivery.
It is also better to pay more and have the ability of tracing your package.

DiggerUK

@ Lib'too
As it is your first post I imagine you are doing research on investing in gold.
Here are some sites for you to visit. The first two have forums you can lurk for info. The others are for checking price movements.
Kitco
Housepricecrash

Goldline
Goldinvestments
Coininvestdirect
As a new member I'm not allowed to give you these sites as a direct link, put them in your favourites.

You will need to study before you invest in gold, it isn't rocket science.
A word to the wise, stay away from the "Gold Bugs", they are 31 grammes short of an ounce, but fun to read what they say.

sabretoothtigger

catrock wrote: »

take scrap gold to any reputable jeweller, he should give you the market price, less a little bit of commission,

He might give a fair price but gold has alot of spread on the price which means being a seller is very different from being a buyer and there is a big gap in the price between the two.

The larger the amount of gold and purity you deal in then the smaller the spread but otherwise its a long term investment or simply you will lose money even on a static price

FalkosGold

liberatortoo wrote: »

What are the costs incurred when you sell gold?

I agree, this is a very vague question.

If you have a lot of gold, the only real cost is CGT!
CGT is a tax on capital 'gains'. If when you sell or give away an asset it has increased in value, you may be taxable on the 'gain' (profit). This doesn't apply when you sell personal belongings worth £6,000 or less.

Aside from that, a jeweller will typically take a commision from the market value.
There are many online gold buyers who buy gold at 90% + of market value.