Saw the newspaper article entitled “Gold prices are on the rise,” a few weeks ago. The article was about buying and selling gold. A question about selling gold: If you check and know spot prices, is that typically what you will receive when you sell? Shouldn’t you receive less, so that the buyer has a margin to make a profit when he sells?
Terry Says: If you are selling bullion coins, you should receive a discount of no more than 5 percent, maybe less from spot price. The amount of the “haircut” depends on whether you are selling in a down market or an up market! The “spread” between buy and sell prices revolves around the spot market price. As noted in that column, you can go to www.Kitco.com throughout the day to get the current market price of gold.