How do you sell gold? Everyone keeps telling me to buy gold, but what if the world doesn't end?

Question

More to the point: without taking a massive loss. Looks like to me that whenever you sell gold (barring an apocalypse) you lose. If you had bought it back in 2000 for $600/ounce and sold it now, you would only break even. Even though it's hovering around $900 to buy it!

Answer 1

You can invest in gold in a few ways:



buy actual gold. but then you have to find a place to store it. that costs money.



invest in gold mining stocks. as the price of gold goes up, the price of these stocks goes up (usually)



buy a gold ETF, such as ticket symbol GLD.



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Answer 2

If you bought gold in 2000 for 600 you are a sucker. And if you sell it now for 600 you are a sucker.



Usually when you buy an ounce, you pay spot+ about 30. When you sell, don't accept anything less than spot. Sell it on ebay if you want. Just don't accept less than it is worth.



Personally I buy/sell gold at my bank. It's across the street from my work. When I want to buy, I walk over at lunch and buy it and take it home. When I want to sell, I take it back. Easy. Sometimes I sell it somewhere else if I can get more than spot for it, but usually it's easier to just take it back there because it's so close and I don't have to go hunting for the best price to make an extra 20 here or there.



On another note. Don't put your life savings in gold. You just want to have some percentage in gold. If the world does end, you'll be glad you did. If the world doesn't end, you still have some gold in case it ends later.

Answer 3

Buying gold stocks (I refer to one of the answers here) is better, because you get extra interest - but in case "the world ends" surely these stocks are nothing but a piece of paper and you never the actual gold bar into your hands, no matter how much stocks you have.



At the same moment storing a real bar or bars has its own disadvantages. (for the scale of risks in bullion investment read http://www.freeinvestmentblog.com/free-investment-tips/circulated-silver-coins-how-to-buy-junk-silver-coins/)



Now, getting back to the question of selling precious metals. Yes, if you sell them back, the price is cheaper. But this is because they bullion sellers/buyers manage to control this market and have the "buying back" price being quite low.



When the paper money inflation starts becomes more obvious, they will no longer be able to control the "buy back" price and you will see what is going to happen. I assume at that moment your question would not sound that pessimistic.

Answer 4

you in basic terms could go with a great gold broking. maximum gold companies are going to offer the comparable volume yet some are plenty quicker doing it and don't can charge a team of greater advantageous costs like gold equipment delivery etc.

Answer 5

AIG was be a best stock to invest if you plan to invest for a long term, because AIG is too big to fail and beside AIG no longer need government bailout money. if you invest in AIG are now you returning profit is 10-30 times in 3-5 years.