Get the Most for Your Gold Melt Price

• Gold can be traded on an exchange or purchased as bullion such as coins, bars, and grains.
• Gold bullion, coins, and bars are traded both on exchanges and through direct sales.
• Investors can purchase physical gold either directly or through gold-backed ETFs.
• Investors can purchase and sell exchange-traded funds (ETFs) on stock exchanges.

Gold investing has a long history, and the modern gold market is generally viewed as one of the most stable for investors.
Buying gold bullion coins or bars is one of the safest ways to invest in gold, but there are many different options for investors to consider. Investors have options when it comes to buying, selling, storing, and even melting gold.

Sell Your Gold

There are two ways you can sell your gold:
Auction it: If you have a lot of gold to sell, consider placing the gold in an online auction. Online auctions work well for gold dealers who need to get large quantities sold in a short amount of time.

Sell it to a local dealer: If you have only a few gold coins or bars to sell, consider selling to a local jewelry store or gold dealer.

Gold Jewelry

Gold jewelry is melted down and sold for its melt value, usually US$1,000 to $1,500 an ounce.
Coins
Coins are melted down and sold for their melt value, usually $10 to $15 per coin.

Bullion
Gold bullion is melted down and sold for its melt value.

Gold Bullion

Gold bullion is like gold bars or coins, except that they are issued by banks, brokers, and dealers. They are typically packaged in 1-oz. or 1-kg. bars, or in 1-oz. or 1-kg. coins.
Gold bullion is a terrific option to take physical possession of your precious metals. You can always take physical possession and sell it when you need to.
Gold Bullion is usually bought and sold on the open market, which means that you can buy it from any bank or dealer.
The price of gold bullion, like gold bars or coins, fluctuates with supply and demand.
Gold Bullion is usually insured by banks.
Gold Bullion is usually traded in units of 1-oz. bars or 1-kg. bars.

Gold Bullion Value

The most common way to determine the value of gold is by its purity. 24-karat gold is the purest form of gold that you can possibly find. Its purity is measured by 24 parts in 24,000 parts. The gold purity percentage that you receive at the beginning of your gold melt procedure will be stamped on the back of your gold bars.
To calculate your gold melt value, divide the number of parts by 24 thousand. For example, a 1-ounce gold bar has 999 parts, which is 99.9% pure gold. Dividing 999 by 24,000 equals 0.0009. This factor is your gold melt value.

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The Bottom Line

Buying gold bullion and coins is, of course, the most popular way to purchase gold; however, if you do decide to sell some of your gold holdings, consider taking these steps:
Consult a jeweler or coin dealer in your area to determine the value of your coins.