As with any transaction, it's important to follow best practices to ensure you're getting the best value. JavaScript seems to be disabled in your browser. For the best experience on our site, be sure to enable Javascript in your browser. What is this? Learn more about how to sell your precious metals and compare Gold IRA options for the best value.
Since ingot is a commodity, our purchase price is related to the current spot price of the metal, as determined by the Commodity Exchange (COMEX).We usually buy at or near the current spot price, depending on the exact item and market demand. The exact payment price for your items will be clearly indicated with each product, regardless of the method you use to locate them. Please note that payment prices will fluctuate according to current market rates until your payment is blocked. To see a full list of the items we buy with their adjusted price index, visit our payment catalog.
You'll be guided through a brief series of tasks to identify the items you want to sell, verify your identity, and pack your box properly. Your payment price will be locked when the mailing label is created. At this point, you will have 48 hours to ship your item (s) and maintain the fixed price. You can directly access our payment catalog, which provides an easy-to-use filter to help you find your specific items, as well as a complete list of all the other precious metals we buy.
All products are shown with updated prices per minute, so you can see exactly what the payment will be for each bar or coin in the list. You can also use the “Sell to us” area while browsing the variety of products in our store. At the more expensive end of the price scale for gold bullion, novel one-gram gold bars are minted for the gift market. Often coated in plastic, these small gold ingots cost at least twice the value they contain in gold bars.
The live trading of these 400-ounce gold bars, together with the trading of Comex bars approved by the New York gold market (100 oz), create the spot price of gold that is listed on the Internet and in the newspaper. The value of a gold ingot depends on its weight, fineness and brand, as well as on the current price of gold. Some types of ingots, such as the 3.75-ounce “ten tolas” popular in Southeast Asia, may be worth much less per gram of fine gold than others, such as kilobars of gold smelted by renowned Swiss refineries. For help calculating the price of gold bars, check out BullionVault's real-time gold price chart, which records changes in the price of gold up to one second, in addition to providing historical data.
Instead, gold bars are bought and sold on the commodity market. The most efficient and secure way for private investors to buy and sell gold is through specialized bullion platforms that hold gold in the vaults of members of the LBMA, where price differentials (the difference between buying and selling prices) are tighter and fees are lower. Professional investors and other intelligent investors usually trade Good Delivery gold bars, as they are the most profitable method of buying and owning gold. With these gold bars, price differentials (the difference between buying and selling prices) are the tightest and commissions are the lowest.
The best option among all the options is to sell your gold to a professional bullion dealer. This can simply be one of your local coin stores. At Kitco, we make it easy for you to manage your tangible assets. While investors around the world can now legally own gold bars without restrictions, reports or sanctions, buyers who keep gold ingots at home (instead of using them to store them securely, such as the vaults of LBMA members) must declare these bars to their home insurance provider or risk invalidating their content policy.
If you first bought your gold from a professional dealer, you should always be able to sell it to them again. This contrasts with the owners of a business (such as a gold mining company), where the company can produce more gold and therefore more profits, increasing investment in that business. Gold prices on the international market are quoted at the price of London, it is the traditional and historic gold market in the world. Many refineries create pieces of gold in grams as an easy way for both investors to start or add gold to a gold collection.
Investors looking for smaller gold ingots should look for products from refineries approved by the LBMA that produce molten and minted gold ingots to the required standards. Made in Hong Kong, five-taeles gold bars are approved and recognized by the China Gold & Silver Exchange, which has been in operation for almost a century. The cheapest of all, on the other hand, are the 400-ounce (12.4 kg) Good Delivery gold bars held by central banks and traded by professional bullion traders in London, the center of the global 24-hour gold market. You can choose to sell your gold at a coin fair or convention, especially if you have gold coins with added numismatic value.
Gold ranges from 1 gram to 1 kilo, making buying, transporting and storing gold much safer and more affordable. Smaller gold bars, such as 100g gold bars bought and kept at home, on the other hand, or even stored in a bank safe deposit box, have three major drawbacks. Take these gold ingots out of market-authorized warehouses, even to store them in your bank, and they break the chain of integrity that guarantees the gold in each ingot to the next buyer. They may not provide the same amount of cash, but gold coins have value and can work together with other types of gold.
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