Hey everyone i just need some advice recently one of my family members received a credit suisse 20g 999.9 gold bar and we are wondering what to do with it or where to sell it in melbourne.
Thanks
Need Advice - Credit Suisse Gold Bar
danlztheman on 09/04/2017 - 20:59
Last edited 09/04/2017 - 21:03 by 1 other user
Last edited 09/04/2017 - 21:03 by 1 other user
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Just don't sell it to a "We Buy Gold" place. Look for an actual mint as you will get the best price there. Perth Mint for example.
Check out silverstackers.com it's an aussie site that will have all the info you need. Check out the current price of gold there and see what their advertisers are offering, it's usually a few percentage points lower than spot.
Usually you get 5% less then spot price when you sell it to a reputable mint or gold buyer.
They do ensure it's gold though as there are fakes of these and many other bars going around.I remember as a kid that my parents used to buy quite a few ounces of gold whenever the price dropped and store it until the price went up or we needed money. Then they'll take it out to the asian jewellery stores to sell it when they thought the price was good enough.
If I remember correctly, that was about 20-25 years ago when the price was about $5-600/per ounce. Knowing my parents, that would've been the best place to sell it at the time.
Keep it in a cupboard in your bedroom.