How To Sell Gold- Westlake’s Quick Guide

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How do I sell my gold?

Do you have gold to sell, but aren’t sure where to start? What are the dangers and hassles to avoid? How do you get the best price? Continue reading for Westlake Gold’s guide to making this process a little easier.

We can help you identify how and when to sell your gold and what to look for in a trusted buyer. We’ll also touch on how to calculate the price you can expect.

Interested in selling your gold? Call us today for a free consultation.

When Should I sell my gold?

The right time to sell your gold can be influenced by both personal and financial decisions.

If you are investing in gold and looking for the right time to sell to get the best return on your investment, bookmark our spot price tool page to keep up to date daily. If you come across your gold in another way or inherited it, ask yourself whether you’re ready to part with it, and consider the possibility it may be something that could be sentimental in the future.

The top reason people generally sell their gold is that they need to liquidate their investment. It could be to buy a house, to pay for college tuition, or you might just want to splurge on a long vacation.

Whatever your reason for selling gold is, you decide when the time is right.

Here are a few other common reasons people sell their gold:

  • Diversify investment portfolio
  • Pay for college tuition
  • To make a large purchase like a car or house
  • Medical bills
  • Trade or liquidate an investment

Know Your Gold

It’s important for you to be knowledgeable about what you have before you try to sell. Here are a few key points you need to be aware of to make sure you’re getting a fair price:

Bullion Vs Collectible

One notable thing to figure out is whether you are holding bullion or a collectible product.

Bullion refers to bulk form precious metals, valued by weight. Bullion is seen by many as being gold or silver bars. Collectibles, on the other hand, tend to refer to gold or silver coins with distinct currencies and designs.

Sovereign Vs Private Mint

Another thing you should figure out is whether you have Sovereign government-backed currency or a private mint item. Buyback and value prices could differ depending on what you have.

Sovereign mints are often referred to as national or government mints. Products produced by sovereign mints are legally useable tender in that country. Usually, there is face value associated with the item and an official tender status.

Private mints do not produce for legal tender. Private mints usually create items with their own branding, designs, purity, and content.

Bid Price Vs Ask Price

Bid Price: The price a dealer is willing to pay for your product.
Ask Price: The price a dealer offers to sell the same product.

Want to know how to sell your gold? Westlake Gold can help. <a>Call us today</a> for a free consultation.

Find a Trusted Buyer

Once you know your gold, it’s time to decide where to sell it. You’ll want to find a reputable, trusted dealer like Westlake Gold to meet your needs. Are you in Southern California and want to know what your gold is worth? contact Westlake Gold today for a free consultation.

Photo by Sabrianna on Unsplash

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