How to Sell Gold, Silver, and Platinum Bullion

Selling precious metal bullion requires careful planning, whether it is in the form of coins or bars. Here are some guidelines to keep in mind.

Instructions

  • Step 1: Send or take the bullion to the dealer. If you send it, use registered mail. Then wait for the payment. With luck, you can turn even a single coin into a pay day!
  • FACT: Besides gold, silver, and platinum, the precious metals group includes ruthenium, rhodium, palladium, osmium, and iridium.
  • Step 2: Request a lock price from the dealer, and then confirm the price, product, and quantity to be sold.
  • Step 3: Insist on clear answers from the dealer you choose to work with about how you will get the bullion to the dealer and how and when you will be paid.
  • Step 4: Obtain an exact quote from one or more reputable dealers. Compare the quotes with the spot price.
  • TIP: To reduce the possibility of fraud, work with dealers who are registered with the local government or police agency in the locale where they do business.
  • Step 5: Check the spot price for any precious metal bullion you plan to sell.

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