“WHY CAN’T I GET THE GOLD RATE FOR MY GOLD?”

Written By: Kevin Robbins, Gold Solutions

Gold Solutions pays you the best when you sell gold in Fort Myers.  We, like all companies in this tough economy are not getting rich.  I continually get the question,
“Why can’t I get the gold rate for my gold?

Let me start by saying that the gold rate is based off of the current bid at the New York Stock Exchange.  Much like when you hire a stockbroker there are fees that go with trading stocks.  When you hire a real estate agent there are fees to sell your home.

When you sell gold or precious metals, there are numerous fees that we the gold buyers must pay and we also are in business and have expenses also.  When you sell gold we do not keep the gold and ultimately, the gold ends up at the Treasury Department of the United States.  To get there is a process.

First of all the gold must be purchased from us.  We have overhead and expenses to buy gold.  When we take possession the law requires us to hold the gold for 15 days and there is much risk in doing so to include interest we lose for the money we invested.  We then send it to a smelter and they melt the gold down and make it pure to give to the Treasury.  There is shipping involved and insurance and small fees along the way, not to mention taxes that need to be paid. 

Please do not forget that the price we pay that reflects the gold values on the stock exchange are based on pure gold.  14 karat gold is not pure.  It is only 57% gold so if you have 14 karat gold and it weighs 100 grams, you have only 57 grams of pure gold.

Gold Solutions would like to pay everyone 100% on their items but we like any other business have many costs associated.  What we would suggest, if you purchase gold for investment purposes; buy gold coins.  Coins are considered currency and do not require a 15 day hold to resell and you can save up to 15% on your resale. 

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