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Best Place To Sell Gold?
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wrkactjob
Posts: 248 Forumite
I have a 250g gold bar and wondered where the best place was to sell it?....have to say the difference between what its "worth" and the online buy it now prices is dreadful! am getting quotes of £500 less than the 'worth' value!....and of course to buy gold you have to pay more than its worth, some of these traders must be making a fortune!
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I have a 250g gold bar and wondered where the best place was to sell it?
http://www.coininvestdirect.com/en/gold_bullion/
They will buy your 250g bar for marginally under spot price.....have to say the difference between what its "worth" and the online buy it now prices is dreadful! am getting quotes of £500 less than the 'worth' value!....and of course to buy gold you have to pay more than its worth, some of these traders must be making a fortune!
The spread between the buy and sell prices is where the traders make money, stay in business and provide liquidity for your investment. Naturally, you'll need to shop around and pay the least spread.0 -
Is that £500 less than the buy price or £500 less than the spot price? £500 below the buy price looks about right to me and should equate to around 98% of spot.0
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I have a 250g gold bar and wondered where the best place was to sell it?
Sell gold? You don't sell gold, no, you BUY! BUY! BUY!
You must be new here.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
OK thanks, another thing 250grms bar, how many ounces is that?....I thought 8.8 but with the cuurent 1oz price of £1,123 that would make it worth £9882.40 but thats not right is it as you can buy it for way less than that from bullion dealers, so what schoolboy error am I making?0
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According to google -
250 grams = 8.81849049 ounces
250 grams = 8.03768664 troy ounces
I suspect the gold price is quoted in troy ounces.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Troy Avoidupois....sounds like a name...
OK guys thanks I still have a bit to learn it seems don't call me Auric yet.0
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