Gold is a valuable metal that many people love to invest in. It is a great way to diversify your portfolio and protect it from inflation and economic turmoil. However, if you have many gold bars, you may want to sell them for cash in times of need.
But the big question everyone has is, ‘Is it easy to sell gold bars in Australia?’
Absolutely, yes. You can easily sell your gold bars to banks, jewellery shops as well as gold bullion dealers in exchange for cash. But you should be careful enough to choose the best buyer who can offer maximum returns for your gold bars.
In this blog, we’ll look at the common places where you can sell gold bars and the best and the easiest ones among them.
3 Places to Sell Gold Bars in Australia
The process of selling gold bars to banks is simple. You can first enquire if your nearest branch buys gold bars and then bring your bars to them. Most Australian banks buy gold bullion every year. But nowadays, they have stricter regulations and require a lot more paperwork than they did in the past. You’ll need to provide proof of ownership about the origin of your gold bars for the bank to vet and buy the gold bars. And there may also be a waiting period till you get the cash for your gold.
2. Jewellery Shops
Jewellery shops are a good place to sell your gold bar or coins. As long as you sell to the same place you bought it from and have the receipt, you will be able to get your money as soon as you walk in.
But if you’re planning to sell gold bars you bought from another place, you may also need to shop around and compare prices before deciding on a seller.
It would be beneficial if you could get paid in cash or check immediately after selling your gold bars, so make sure to get all those details before choosing a jewellery shop to sell.
3. Gold Bullion Dealers
If you want quick cash, then selling your gold bars directly through a gold dealer is probably your best option. These dealers buy all sorts of precious metals, including bullion bars and coins as well as scrap jewellery.
Gold bullion dealers will offer you a fair price based on the current value of gold and silver in the market. The price will also depend on how much weight your gold bar has and its purity. When you sell gold bars to a gold dealer, they will take care of all paperwork and immediately pay you in cash or check. The process usually takes less time than banks and jewellery shops.
There are two ways to sell gold bars to bullion dealers: directly through their shops or online.
- If you need instant money, it’s best to walk into your nearest reliable gold dealer, sell your gold bar, and get cash in hand.
- If you want to sell your gold bars without any direct dealings, then you can contact an online gold dealer. You’ll first get an online estimate based on the purity and weight of the gold bars. Once you’re satisfied with the number, you’ll ship them in a secure package to the gold dealer. The gold dealer will then physically evaluate the gold bars, give you a final estimate and directly deposit the money in your bank account or send a check if you prefer.
Which Is the Easiest Place to Sell Gold Bars in Australia?
When you want to sell your gold bars quickly and easily, then gold bullion dealers are hands-down the best option.
Cash Your Gold is one of the oldest gold dealers in the Australian market, with over 3 decades of experience. We buy all types of gold, including gold bars, gold coins, gold jewellery as well as other precious metals. We buy gold at the current market prices — which means you get one of the best rates in the market when you sell your gold to us.
If you have gold bars to sell and want instant money, you can walk into our store in Brisbane. Or, you can use our mail-in service to sell your gold bars from wherever you are in the country!