Gold has only been used as money and has been regarded as a superior form of currency since ancient times. It has been used as a store of value for over 3,000 years. It fulfills the promise of being a long-term way to store value than any currency ever could.
The price of gold may fluctuate but it has a timeless value. Gold can preserve it’s purchasing power for longer than most currencies. By its nature fiat currencies like the American Dollar, the Euro, the pound sterling or any other paper money paper currencies will loose its value. Even the money you keep in the bank isn’t untouchable. And that is the major reason that wealth planners and financial advisers always tell their clients to diversify their investment portfolios by including gold.
There are some that misunderstand the role of gold. They criticize it because it produces no income. However, it is not the role of gold to produce any income. Its function is to store of value. It might be traded as a commodity to but it should be viewed differently because unlike most commodities like crude oil, it cannot be used up. Most of the gold that has ever been mined is still in existence and will remain so because of how recyclable the previous metals is.
So, how do you liquidate gold?
A lot of investors turn away from gold because they think it is too much of a hassle to sell bullion. The prospect of having to negotiate with gold dealers what their bullion is worth is daunting. Getting the best price takes hard work, especially if you bought gold from a gold dealer without a buy back policy. It means you will have to go shopping for a reputable buyer locally who will buy your bullion for a good price. You might have to consider other online platforms.
Some physical bullion owners turn to scrap gold dealers and pawn shops but these aren’t going to give you what it is really worth. They need to profit from the sale because they have large overheads. They may end up having to sell the gold to other gold dealers or refineries which is more work that eats into their profit margins. However, not all of them are bad. There are many well-off people and businesses that will pawn their bullion for some fast cash to through the month. These are people who don’t want to take out expensive short term loans and figure that having something as valuable as gold is handy.
There are a lot of online sites you can sell bullion to or get information where to find a good bullion dealer. Just have a look on your search engine and you should find a couple of reputable sites you can sell to.
The bottom line is you should not let other people’s insecurities scare you away from buying bullion. Gold is a great store of value. It appreciates over time and there are lots of ways to cash in on your bullion when you need to.
Show Comments (0)