Details of selling sealed gold bars

[Pointedstick]

So let's say you want to sell a gold bar or two. In the small sizes, these things come in sealed containers. How is your buyer supposed to verify the authenticity of the gold without opening the package and ruining the seal? Are they supposed to just trust the entity that sealed it up?

[Bean]

Rare earth magnet is probably a good start.

Known dimensions, knowledge of the bars markings, and knowledge of the packaging help.

Maybe a similar one you feel good about compared side by side, then weighed against each other.

[Ad Orientem]

The seals are not always intended to be permanent. They are often put there by the PM firm that sells the bars in case you wish to sell them back to the same firm. But otherwise I would expect that if your selling bars you should be prepared for the 3rd degree.

[Pointedstick]

But otherwise I would expect that if your selling bars you should be prepared for the 3rd degree.

Sorry, what does that mean?

[Ad Orientem]

But otherwise I would expect that if your selling bars you should be prepared for the 3rd degree.

Sorry, what does that mean?

It means in this case to be prepared to answer questions and prove the provenance of the bars or to cover the cost of testing them.

[AgAuMoney]

Dealers get pretty good at recognizing good stuff especially in small, familiar packages.  You handle 1oz coins or bars in familiar packages and something bogus stands out.  Sure, I can imagine a pretty good fake.  But fakes are easier the larger the piece.  A fake 1oz coin or bar?  Tough to make it look right and feel right.

And who are you, anyway?  If you bring some gold bars into a dealer that has never seen you before, you are going to face more scrutiny than if you have an established relationship.  If they have never or rarely seen what you are trying to sell, again more scrutiny.

Some dealers will give you a discount if you sell back to them what you purchased.  (E.g. colorado gold)

Sometimes, especially with large lots, they'll charge a pretty big premium because what they buy goes right back to one of the big boys (sometimes a refinery, sometimes amark, etc) that can use ultrasound and/or x-ray analysis to find those pieces which need careful scrutiny.  And if you are found to have been passing junk, it's going to be a problem for that established relationship.

And a big bar?  They'll drill it and assay the shavings.  Cost a couple hundred dollars 10 years ago for a ca. 1000oz silver bar.  Don't know how that compares to now or even if it was a good price then.