SUMMARY : 

• 1) The gold resale process
• 2) Gold valuation
• 3) Where best to resell gold
• 4) Taxation of gold resale

1) The gold resale process 

 

Gold (bullion, bars or bullion coins) is a liquid asset that can be resold fairly easily. But it does require a certain amount of preparation before the sale. 

By understanding how a gold sale works, the seller can avoid a potential conflict or dispute with the buyer or professional intermediary at a later date. 

Once you have collected as many documents as possible certifying the originality of the coins or bars (certificate of authenticity, invoices, inheritance documents, etc.), you need to follow the steps below: 

 

-> Do your own research on specialist websites to find out what steps to take, what's happening in the gold market or what's happening to the price of different gold assets. 

-> Contact an expert in precious metals trading and numismatics either using the form on their website or by visiting a branch. For greater security and transparency, it's best to make an appointment at a branch. 

-> During the appointment, the specialist will carry out a detailed valuation of your gold in front of you. He or she will explain each stage clearly: weight, purity, and the price quoted at the day's exchange rate. 

-> After the appraisal and valuation, if you are happy with the offer, a sales contract will be signed. In essence, before the final transaction, a contract clearly detailing the weight, purity and total price must be drawn up and signed by both parties. 

-> The final stage is payment. This can be done immediately and securely by bank transfer, ensuring optimum traceability. 

2) Gold valuation

 

This is a very important step, as a rigorous appraisal is essential to obtain a fair price. Here are the key steps to correctly estimating the value of gold before selling it.

At GODOT & FILS, our experts use precise analysis and valuation methods, including certified scales, chemical and electronic tests, to ensure a transparent and fair valuation.

 

-1- Analyzing gold purity

The first step is to determine the grade of the gold, i.e. its purity (expressed in carats or thousandths).

• Pure gold is 24 carats or 999 thousandths.
• Jewelry is often 18 carats (750 thousandths), 14 carats (585 thousandths) or 9 carats (375 thousandths).

The quickest way to identify purity is to visually examine the gold for a hallmark. This is a small official mark affixed by the craftsman or by a control organization.

If no hallmark appears to be legible, the professional will proceed with an acid test or an electronic analyzer to determine the precise gold content.

 

-2- Weighing the gold object

In addition to identifying the purity of the gold, the object is weighed using a precision balance.

Weight is generally expressed in grams for jewelry and in ounces for coins and ingots.

 

-3- Refer to the current gold price

Now that we've accurately identified the weight and purity of gold, we need to apply a monetary value to it, based on the official gold price. The latter has a worldwide legal rate that changes in real time on world markets. The gold price is expressed, by default, in dollars and "troy ounces" (representing 31.1035 grams).

 

-4- Evaluating aesthetics and history

In some cases, gold's weight and purity alone cannot define its resale or purchase value.

Antique jewelry may be rare, unique or even signed. In these cases, they may have an artistic or historical value greater than the mere price of gold.

Gold bullion coins, such as the 20 Franc Napoleon, the British Sovereign or the Austrian Gold Ducat, can be worth far more than their weight in gold, depending on their condition and rarity.

Here again, it's important to consult an expert jeweler, gold expert or numismatist before reselling.

3) Where best to resell your gold 

 

Gold can be resold through a number of different channels, but whichever one you choose, the choice is crucial, as it can have a major impact on the speed, simplicity and final value of your transaction.  

 

It's perfectly possible to go through : 

- Traditional jewellers, but they may offer variable prices that are sometimes lower than the market price, due to high fees or large trading margins. 

- An online platform dedicated to buying and selling gold. 

- A recognised specialist agency such as GODOT & FILS.  

 

Agencies are a good compromise in terms of security, expertise and fairness in valuation and redemption. 

 

Putting your trust in GODOT & FILS means making the right choice: 

- RECOGNISED EXPERTISE: Our network, present throughout France, has trained and experienced experts, guaranteeing fair and transparent valuations. 

- SECURITY AND CONFIDENTIALITY: All transactions take place in a secure environment, with discretion and professionalism. 

- IMMEDIATE, SECURE AND GUARANTEED PAYMENT, based on the real time price. 

4) Taxation of gold resale

 

As with many other investments, taxes will apply when you resell your gold. It should be noted that taxation differs according to the seller's own situation and the type of gold sold.

 

N.B.: A special case may be noted concerning the taxation of gold resulting from an inheritance or gift. In this case, the date and purchase price indicated in the deed of inheritance or gift must be taken into account for tax assessment purposes.