Around two decades ago, an ounce of gold was valued at approximately $500 AUD. If you choose to sell the gold bullion in Brisbane that you’ve held onto since then, you’d receive about four times what you initially paid. Few investments match gold’s performance, as it not only retains its value but often grows more steadily than other commodities. While gold is a reliable investment, it’s crucial to be well-informed to avoid costly mistakes.
Here are key factors to consider when you want to sell gold bullion Brisbane:
1. Purity
Gold’s value is primarily determined by its purity, which is measured in karats. Pure gold is 24 karats, or 100% pure. The purity of gold coins and bars is sometimes indicated by millesimal fineness, representing parts per thousand of pure gold in a bar. For example, a bullion bar marked with a 995 fineness contains 995 parts gold and 5 parts other alloys. The purest gold bars are marked 999.9, meaning they are 99.9% pure.
2. Hallmarks
Gold purchased from reputable dealers usually features hallmarks, which are stamps or engravings that indicate the purity and the refinery where the gold was processed. Dealers rely on these hallmarks as a certification of authenticity when buying gold bullion.
3. Tax Implications
While purchasing gold bullion is not taxed, selling it may incur taxes depending on the capital gains earned. It’s important to be aware of the tax implications before selling.
4. Market Price
The price of gold is a critical factor whether you’re buying or selling. Gold has a standardized pricing system, similar to fiat currencies, and its value is publicly available. Knowing the current gold price will help you set realistic expectations when selling to a dealer.
5. Type of Gold
Whether you’re selling gold bars or coins, the price can vary even if they have the same weight, purity, and origin. The difference lies in their characteristics.
- Gold Bars: These are refined lumps of gold shaped into bricks, typically with inscriptions denoting purity and weight. Investors who purchase gold bars are mainly interested in their intrinsic value rather than their form.
- Gold Coins: Coins often carry a premium value, as they may be considered legal tender and hold historical significance. Many gold coins in circulation today might have once been used as currency.
Investing in gold involves both buying and selling. The goal is to sell gold bullion Brisbane at a higher price than what you originally paid. While gold is one of the most stable commodities, its value isn’t immune to future declines. Many people choose to sell during a strong market, like the current one, which is buoyed by global crises and geopolitical tensions. However, it’s uncertain how long these factors will continue to influence gold prices, so it might be wise to sell while the market remains favorable.
