Important Tips on Buying and Selling Gold Bars

Metal Ounce Gram
Gold £1295.58 £41.654
Silver £17.581 £0.565
Platinum £768.192 £24.698
Palladium £1539.275 £49.489
Updated 06:03 22/10/21
Time Zone: UTC
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Important Tips on Buying and Selling Gold Bars

Do you want to buy and sell gold bars, but don’t know how to get started? Read the following tips for buying and selling gold bars. In comparison to coins and jewellery, it’s easier to buy and sell gold bars. Still, there are a few things you should consider before investing in them.

Tips to Buy Gold Bars
Purity
You must get what you want. For those who don’t know, karat is the unit used to determine the purity of gold. The higher karat is, the more pure gold bar is. There are 24, 22, and 18 karat gold bars available in the market. 22K and 24K gold bars are ideal for investment.

Refinery
When you buy and sell gold bars, you should know the refinery from where the gold bar is refined. Remember, famous refineries ensure the highest level of purity. At RPS Gold, we sell gold bars refined in Metalor.

Tolerance Level

Don’t forget to check the tolerance level when you buy and sell gold bars as it also determines the value of your gold bars. The tolerance level shows how accurately the resistor was manufactured.

Denomination
If you want to maintain liquidity, invest in lower denominations. Opt for gold bars with lower denominations. It can be as low as 5g. At RPS Gold, we have gold bars of 2.5gms as well.

Fineness
Fineness represents the purity of gold bars by parts per 1000 rather than karats. Don’t forget to check the fineness when you buy and sell your gold bars. It will help you determine the price on which you should buy and sell gold bars.

Tips to Sell Gold Bars

Know What You Have
When you buy or sell gold bars, you should know its quality. Get to know if it is 18 or 22 karat gold. Remember, you should get paid as per the purity of gold bars.

Look for a Reputable Buyer
Look for a dealer who has a license to buy gold bars in your state. To ensure a company is reputable, inquire about their association and certification.

Shop Around
Get quotes from multiple gold dealers before you settle on a buyer. The price you get might vary significantly depending on where you sell it.

There are a lot of online platforms available that allow people to buy and sell gold bars of various denominations. At RPS Gold, we deal in a wide range of denominations. We buy silver and gold bars at market leading prices. If you want to lock your price based on the live spot price, you can do so by giving us a call at +44(0) 20 8574 2450. You can also write to us at mail@rpsgold.co.uk. You can send us your gold bars through Royal Mail Special Delivery. We are located within the Jewellery quarter of Southall, preserving the legacy of 50 years that we made with love, trust, and the hard work of our three generations. To know more about us, visit our website.