How Much Can I Expect To Sell My Pm For?

From lowest price to highest price: Mined gold (in the ground), refined gold (from mines or from the public), and product gold (in a form that is desirable). Your gold may be resold if bought in a form of a product that someone desires at a markup from refined gold. Refined gold is basically the cheapest you can buy gold at, and it's still at a markup because one has to make it into a sellable form. Mined gold is the price point at which it is still viable to take it out of the ground. Tons of earth has to be moved in order to refine one ounce of gold, so consider the costs that miners have to make a profit. Too many people believe that it is always spot price, and that their karat gold is at spot price (actual gold weights are not accurate price indicators, in my opinion). It ALL must be refined and then resold, and there are middlemen at every turn. You will take a loss from spot, unless you can find a dummy who will buy it at a markup. Retailers have to make a profit and they have to depend on someone else to buy it FAST so that the price swings don't kill their profit. If you can understand this then you are gold. 24 karat gold or .999+ gold is where you must calculate the dollar value, not the AGW (actual gold weight) and the reasons for this are in the refining of the karat gold into fine gold, production into a desirable form, wholesaling or supplying to a manufacturer, the labor it costs to produce the product, the credit that retailers will almost always take advantage of, the overhead that retailers have to cover, the layaway or lease rates the end-customer pays... I'm not talking out of my wazoo, for I work in the gold industry. You will take a hit no matter who you are, but the biggest winners are always the refiners, even if they aren't crooked. The premiums you paid are wiped out because that's the price you pay to buy it, until you find the next dummy. Don't buy gold unless you know how to make money from it because it's an expensive and shiny paperweight.

In sum, sell at the price that is favorable to you and makes you comfortable. Likewise use the same philosophy when buying. If you're in the industry of manufacturing like I am, buy as little as possible and collect your money FAST because giving out credit will knock you out if there's a volatile northbound swing since your labor is all gone when rebuying gold stock. Once you hit your feel-good numerological number just dump it fast; don't even gamble with this stuff, you can lose your shirt.

Silver is sort of the entry-level noble metal. It's very disrespected in the industry. The markups can sometimes be high because nobody likes to be bothered making silver products. I wouldn't stack a lot of silver unless you had an industrial use for it. In a flooded market who will buy it?

There's a few ways you can sell your gold....

1) Privately
2) To a business/coin shop/ jewelry store
3) Pawn/we buy gold

In that order you will get the best money... Privately you can expect to sell for at or perhaps slightly below spot... (2) a business or coin shop will also be a touch less than spot (usually 5%) (3) a pawn or gold store will try to get it as cheap as possible...

It's up to you... do your research and you'll do fine...


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With respect to the comment made earlier about not buying gold or silver as an investment... it's really NOT an investment that should produce large returns.. but gold is considered a fantastic hedge against inflation... it's also a safe haven for money in the market when equities don't look so well... both gold and silver as of late have received a bit of a "boost" and this is why.. the bond market sucks... equities are way over valued and many need a price correction.. this leaves very few places to put industrial money ...

My LCS will pay about .80c on the dollar for gold, and .50-.60c for silver.

You can sell for 98% spot price for gold to ARA any day of the week. They do melt though, so if you have any qualms about that...that's something to consider though! They pay 90% spot for silver.

I had planned on taking some profit if it hit over $1400. I didn't think it would be nearly this soon, I just bought about 12 months ago.

I will be forced to keep an eye on it. The price of gold is sky rocketing right now. That will probably change my game plan, I'll be tempted to let it ride. If the trend remains strong, I'll ride it to the top I hope!!

Depends on what bullion.
I know places that will pay $2 over for uncirculated eagles.
Some other bullion coins are even more valuable.

Same here BigSilver. I know of 2 shops that I've asked that pay spot for rounds and $2 over for ASE's.

My experience is that local coin shops and pawn shops will do everything they can to talk your gold and silver down in price. Private sales via online platforms and so might actually get you much more out of every gram of PM. However, it may also be a tad more difficult or craving to get it sold.