Commodities Investing: How to Sell Gold Online
How to Sell Gold Online
Online trading of gold is entirely electronic much like other commodities like silver and oil. Since most commodities are traded against the US dollar, the gold prices are always stated in terms of the US dollar. The physical exchange of gold doesn’t take place, this is known as the Over The Counter method. This is not regulated by any particular stock exchange. Gold is primarily a day trading commodity although a day trader could his/her position for a longer time span like 2 or 3 days. Gold is now accessible to the everyday trader due to the introduction of online trading.
Authorized dealers tend to have websites which the seller can use to his/her gold. Websites requires the seller to create an account and register. Most do not require any money to sign up. The dealer then connects a purchasing agent to the seller. If the dealer is situated in a particular place, then they will require that you ship your gold to their address. It is advisable for the seller to insure the package. Once they receive your shipment and verify the authenticity before sending the payment. The ensure the fair functioning of these online dealers, The Better Bussiness Bureau regulates online dealers and gives them ratings based on their past history and security provided by the dealer. Much like credit rating agencies in the US, the Bureau assigns grades based on security of the sellers investment.
Apmex is one of the most trusted dealers online. It does not have any hidden costs, and although it doesn’t have the lowest prices, the reliability is worth it. It is among the largest bullion dealers and their heavy volume allows them to make little on individual transactions.
Money Metals Exchange is another who leads the online bullion market. Low prices have helped its rapid growth. For common and basic bullion like the American Silver Eagles, this forms the lowest prices. It also offers a monthly savings plan.
Provident metals was a website founded at the request of customers. It offers fast, courteous and complete service. The Better Business Bureau gives an A- rating. All six complaints filed against them were all resolved to the customers’ satisfaction.