How do you make the right choice when considering to sell silver bullion Melbourne? Sometimes it can come down to your personal financial position, but other times it just simply be the price is high and its the right time to sell.
There are two main types of bullion for both gold and silver. Those two types are coins and bars.
Bullion coins come at a higher premium than the bars, but look nicer and they are struck and minted. Most government mints produce bullion coins and also strike them in local currency. The mass produced bullion coins are available at very competitive prices compared to proof and collectible coins. They are sold slightly over their gold and silver content. Their design and scarcity make them preferable for some investors. However, the issue with proof silver coins is most likely you won’t get that premium you paid back when it comes time to sell silver bullion Melbourne.
The other option are silver bullion bars. Silver bullion bars are the closest way to get bullion to the spot price. These hand poured bars are all unique and are sold off just over spot as there isn’t much labour or work involved like the coins. This makes them an optimal choice for when you sell your silver bullion back to the dealer.
Before you jump and buy silver bullion, you should research the various types that are available as mentioned above. A straight out investment purchase is a lot easier to make than an emotional one. Some factors to consider when you go to buy bullion are, the country of origin, mark up over spot price, the length of time you intend to keep the bullion for. These factors can easily be discussed with your local bullion dealer.
If you are a self managed superfund and want the lowest cost bullion, then you should think about buying in large bars. Almost the same labour is involved producing a large bar than a small one. Premiums on 1kg silver bars can be as low as five percent rather than the hefty twenty percent often associated with a variety of other bullion options. Bullion coins as mentioned can have premiums up to twenty percent, like that of one ounce silver bullion coin.
If you are a retail investors it is often more common to opt for smaller denomination silver bars as smaller bars are more liquid and can be sold off in smaller amounts once you are ready to sell silver bullion in Melbourne. As a retail investor you may not want to sell a few 1kg silver bars to go on a small holiday.
So where do you start to sell silver bullion Melbourne? A well-known established bullion dealer. You can find these dealers online, some specialise in online purchases other are instore. You may find that buying from an online dealer once insurance and shipping is factored in, isn’t cheaper than buying the same bullion from instore.
There are many types of gold bullion brands around, the two most popular in Australia are Perth Mint and ABC Bullion.
So whether you are considering silver, gold or even platinum bullion bars or coins, look no further than your local bullion dealer who will be able to guide you in the right direction, buying bullion is a significant purchase that warrants careful consideration.