There are 3 common ways to liquidate precious metals. Some forms of precious metals – 10 oz gold bars or 100 oz silver bars for example – can be considerably harder to sell in some circumstances than others like 1 oz American Silver Eagles. Before purchasing, you should briefly consider how and where you anticipate selling your precious metals (if you plan to sell at all).
- Sell to a Coin Shop or other retail location that buys/sells precious metals. Most large cities have at least several retail locations that will buy and sell gold or silver.
- Sell to a national precious metals dealer like Cornerstone Bullion. In most cases, this is your most economical option. Many retail locations require 2-3 times the commission for buying and selling metals, just to cover their costs and keep their doors open. Because we don’t have a retail store, Cornerstone Bullion has limited overhead and expenses, giving us very competitive pricing on the sale and purchase of precious metals.
- Sell/Trade/Barter to a friend, another investor, or the general public. Obviously, the better known your bar or coin is, the easier this process is.