Buying gold has been a popular way of investing money for a rainy day. Gold is portable and is one of the few commodities that can be exchanged for cash anywhere in the world. People invest in gold by buying gold bars or gold coins and storing this bullion in case the economy goes through a slump and currencies are adversely affected. It is extremely resilient and safer to invest in because it is not affected by things that affect fiat currencies, the stock market or the banking system.
More people have come to realise that relying on paper currency or the stock market can lead to great financial losses. The banking system is vulnerable to economic systems and vulnerabilities of the technological structure that supports the system. There is also the risk of paper currencies collapsing due to various socioeconomic reasons. Gold bullion is also a good low-risk, long-term investment vehicle that is well suited for inexperienced investors.
Most people buy their gold from gold refineries and gold dealers in the form of gold coins and gold bars. Gold jewellery is also good if you are new to the gold investment world, but you would have to buy a lot of gold jewellery to come close to getting the kind of returns one would get with gold bullion bars and coins. Having gold bullion is one thing, knowing where to sell gold bullion in Melbourne is something else altogether.
Not all gold dealers will buy your bullion. Some dealers only buy bars or coins that they have sold themselves. Some dealers who do buy gold they didn’t sell may do so at a lower price than it’s really worth. Bullion that has been bought and stored at a dealer’s premises is also easier to sell back to that same dealer. You should be aware though that the price you will get for the bullion will not be what you paid for it. The best case scenario is that you get more by selling gold bullion when the spot price of gold is exceptionally higher than when it was when you bought the gold. This is a more convenient way of owning gold bullion. It ensures that you have a way of liquidating your gold quickly when you need to.
When it comes to finding where to sell gold bullion in Melbourne a quick Internet search will help you come up with a list of dealers who trade in Bullion in Melbourne. Some are bigger than others and offer great prices for your bullion. Some might be small but cater to a niche customer base or market like coin collectors.
Melbourne has quite a few gold bullion dealers:
– Guardian gold
– Australian Bullion Company
– Gold Bullion Australia
These aren’t the only dealers in Australia, other dealers include: Gold Silver Trader, Universal Coin Co., International Gold Traders, P J Williams & Associates, Gold Stackers Australia Pty Ltd, GoldSilverBullion and more.
Check the spot price, shop around to get the best offer for your gold. And if you cannot access a bullion dealer directly, you can go online. There are countless online dealers, even online forums that put you in touch with other gold buyers. If you are brave enough take your chances on eBay, bizarrely, it has quite an active bullion market, but it is still riskier than going to a legit and registered dealer.