How to Buy and Sell Gold Ingots

By Kent Ninomiya

  • Overview

    Gold ingots are bars that are cast from gold in a mould. They are not stamped like a gold coin. Some investors like owning gold ingots because they are easy to move and store. They can be stacked in a safe or safe deposit box, and they always maintain their bullion value. Since they are not coins, they have no numismatic value. Maintaining pristine condition is therefore not as important with gold ingots.
    • Step 1

      Choose the size of the gold ingots you will buy or sell. Gold ingots are made in small sizes like 1, 2 1/2, 5 and 10 gram bars. These are a poor value since the premium to make the gold ingots is large in proportion to the bullion value. Gold ingots of 1, 5 and 10 ounces are better buys. They are more valuable but within the means of most investors. Large gold ingots between 1 kilogram and 12 1/2 kilograms are made, but are difficult to buy and sell because few people are in the market for them.
    • Step 2

      Look up the current spot price of gold. This is the price that gold is being bought and sold for around the world. Since this changes every day, it is important to look it up on the day you buy or sell gold ingots. You can find the current spot price of gold in the financial section of any newspaper or with an Internet search.

    • Step 3

      Calculate a rough estimate of the price that you can expect when buying or selling gold ingots. Do this by multiplying the number of ounces of gold ingots you are buying or selling by the current spot price of gold. You will need to know this number so you will not be ripped off.
    • Step 4

      Consult several gold bullion dealers. Inquire about their prices for buying and selling gold ingots. Expect to be offered about percent over the spot price of gold to buy your gold ingots. Expect to pay 5 to 10 percent more than the spot price of gold to buy gold ingots. If you are buying or selling large quantities of gold ingots, you can often negotiate a better deal.
    • Step 5

      Consider buying or selling gold ingots directly to and from investors. You can do this over the Internet at auction sites like eBay. You can often get better prices by cutting out the middleman. However, these transactions tend to be small. Individual buyers usually do not have the resources to buy or sell large quantities of gold ingots. There are also significant risks buying and selling gold ingots over the Internet. Be sure to only deal with people who have good reputations, verify all payments and merchandise, and insure all shipments.
    • Skill: Moderate

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