Selling gold bullion

Ecossesails

Has anybody any experience of selling physical gold bullion, I'm closely watching the rising gold prices in the hope of turning a profit on approximately 500g of coins and bars. Any advice would be appreciated.

shaun_from_Africa

I've sold a reasonable amount of bullion in the past so can offer some advice.

Firstly, try to avoid the scrap gold merchants as they rarely, if ever give a good price.
The large bullion dealers normally buy from the public and when selling gold bars you should get the daily spot price as they make their profit when reselling.
This place for example
https://www.coininvest.com/en/gold-bars/heraeus-bars/1-oz-gold-bar-heraeus/
Will buy a 1oz bar for £853 which is the current spot price.
There are others such as Elm investments (who gave me a very good price last time I sold,) Chards, ATS Bullion to name just a few.
You will get less than spot price for bullion coins.

Bear in mind that unless you can visit in person, you will have to spend a bit on insured delivery and make sure that you get a confirmed price in writing before sending any gold off to a buyer.
You will also have to provide id when selling.

Ecossesails

That surprises me, the fact of bars giving a better margin than coins. I first started by buying a couple of 100g Metalor bars, which are of course 24ct, I have since added to my collection a variety of bullion coins some being 24ct, the majority however are 22ct, being mainly Sovereign's which I thought being both CGT and VAT free, would be more appealing to UK investor's.

markj113

Try Hatton Garden Metals-
http://www.hattongardenmetals.com/buy/

Atkinsons-
http://atkinsonsbullion.com/

or try silverstackers forum for your best price -
http://thesilverforum.com/