First, selling to the bank may be the most cost-effective, but it is definitely the most difficult, because don't say that your gold bars are "unknown" to the bank. Even if the bank sells its own gold bars, CCB will not accept ICBC, and ICBC will not accept BOC, just because it is difficult to authenticate. But you can talk to several banks, and they will definitely have some solutions, depending on whether they are willing to do it for you.
Second, it is easy to sell to local gold collectors. Basically, many gold shops collect gold by themselves, but they will be interested if you take your things. There is also an inspection method, which is more convenient and faster than the bank, but the price is much lower than the bank.
The third is to be a pawnbroker and wait for death.
Gold bars come from ancient currency circulation and are more used in the fields of collection and investment. Major banks and financial institutions around the world reserve and circulate their own signature gold bars, such as the standard gold bars of Shanghai Gold Exchange.
Gold bars are divided into ounces of gold and grams of gold, and the international gold bar is 400 ounces (12.5 kg).
The investment varieties in the gold market are mainly divided into physical gold investment and gold investment derivatives derived from physical gold. Derivatives mainly include gold futures and gold options, and physical gold investment mainly includes gold bars, coins and gold ornaments.
What is the value orientation of gold bars? Gold bars are similar to gold coins and are mainly divided into commemorative gold bars and general investment gold bars. Commemorative gold bars are generally issued at a price higher than the value of their gold raw materials, and the price is generally fixed. For example, the New Year's gold bars issued by China in recent years and the Olympic gold bars in 2008 are all dedicated commemorative gold bars. The main difference between ordinary investment gold bars and ordinary gold coins lies in the different specifications. There are usually four types of typical common gold coins: 1 ounce, 1/2 ounce, 1/4 ounce and110 ounce. The specifications are generally small, but there are also 1 kg and 10 oz. The specifications of gold bars are larger than those of gold coins.
At present, China gold investors often have misunderstandings when choosing gold bars and coins for investment. It is believed that as long as gold bars and coins have the same price, the same quality and the same investment function, they are not.
However, the investment gold bars issued by different gold merchants have great differences in transaction costs and liquidity, especially in the chaotic gold market in China. For the same variety of investment gold bars, some have a round-trip transaction cost of three to five yuan per gram, and some are as high as ten yuan. In addition, liquidity should also be an issue that investors need to consider. Some gold bars are sold and repurchased in gold shops, some are sold and repurchased through banks, and some gold bars will set other repurchase conditions, such as being repurchased only on a specific date, which will limit their circulation function. The quality of gold bars and coins themselves is also a problem that investors need to pay attention to.
Investment channels
First, on-site transactions, such as member transactions of Shanghai Gold Exchange, namely gold producers, gold jewelry enterprises, gold brokers, gold agents, commercial banks and institutional investors.
Second, over-the-counter transactions, mainly gold bar transactions conducted by some small and medium-sized enterprises and individual investors in commercial banks, gold shops, jewelry stores and gold and silver jewelry stores. At present, individual gold investors in China mainly trade over the counter. The best way to buy gold bars is to buy back gold bars with guaranteed price difference, such as the Gaosaier gold bars bought and sold by China Merchants Bank. The trading quotations on the afternoon of September 23rd were 12 1.49 yuan/gram and 120.99 yuan/gram respectively. The bid-ask price difference is 0.5 yuan, and the processing fee difference at the time of buying and selling is per gram 1.5 yuan.
Banks invest in gold bars. At present, the investment gold bars sold by banks mainly include self-owned brand gold bars and agent sales gold bars. In terms of self-owned brand gold bars, there are "Ruyi Gold" of ICBC, "Heritage Treasure" of Agricultural Bank, "Jianxin Gold" of China Construction Bank and "Dragon and Phoenix Gold" of China Bank. This kind of product is characterized by high cost, which is not conducive to short-term speculation and is suitable for medium and long-term investment.