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Daily Gold Bullion News

Ladies in New York have a new kind of social gathering; groups of these women are now going to gold bullion sales at home. Similar to Tupperware sales parties, women are hosting parties to buy and sell gold, according press reports. While it may be a great social event, selling gold jewelry and coins for their price in bullion can lead to sad results for the unwary.

First of all, investing in gold bullion has been very profitable and very predictable when the investor buys coins and bars at a gold exchange. There are also professional gold exchanges and refining operations that will take gold jewelry and pay for the bullion content. However, selling gold and especially rare coins for their bullion value can leave the seller with less than the fair market value of their gold.

A reputable gold exchange will have a track record. It will have a no complaint report from the Better Business Bureau. The selling of spare gold to someone that the individual just met is not a good business practice and could end up costing the person hundreds or thousands of dollars.

In selling gold bullion, it is a good idea to compare prices. Even if a gold bullion dealer does not deal in items other than gold bars or gold bullion coins, a reputable dealer should be able to refer an individual to the right professional.

Economic times are tough. It is very tempting to sell unused items to raise cash; that is certainly understandable. The point of this story is that the individual who wants to raise money selling gold bullion should get another opinion and only deal with reputable professionals. 

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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