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Three Costs That You are Likely to Incur When Trying to Sell 1oz Gold Bullion 3 by finesilvercoins uk
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Three Costs That You are Likely to Incur When Trying to Sell 1oz Gold Bullion 3 |
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Collecting,Hobbies,Investment
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There are some three costs that you are likely to incur when trying to sell 1oz gold bullion. We now venture to explore each of those costs. We will be trying to understand how exactly each of these costs is incurred. We will also be seeking to understand the (reasonable) justification that is given for incurrence of each of these costs. We will then be going a step further, and trying to answer the question as to how you can minimize your expenditure under each of these votes. That is important, because as a trader dealing in gold bullion, you have to find ways of minimizing your costs, in order to ultimately get the maximum profit. The first cost that you are likely to incur when trying to sell 1oz gold bullion is commission cost. The way things work is such that you are likely to be forced to enlist the help of someone to help you sell the gold bullion in your possession. If, for instance, you are selling the gold bullion online, chances are that you are likely to be forced to sell it through one of the specialized sites that deal with these sorts of things. Alternatively, you could sell it through an online auction site. Either way, once you manage to sell the 1oz gold bullion, you will be forced to pay some commission to the people who helped you sell it. The justification for incurrence of this cost is in the fact that the people who help you sell the bullion play a crucial role (as, without their help, you could end up being unable to ever sell your bullion). The way to minimize this cost would be by opting to sell your bullion through platforms that charge lower commissions. The basis for this assertion is in the fact that the commissions charged vary considerably. But you also need to take note of the fact that there are some platforms that charge higher commissions, but then end up expediting the deal, or providing some other utilitarian value to justify the higher commission. The second cost that you are likely to incur when trying to sell 1oz gold bullion is handling cost. Here, we are looking at things like the shipping costs, and the costs incurred in the storage of the bullion. The justification for these costs is in the fact that they facilitate the sale. You can minimize handling expenses by, for instance, opting for more cost-effective shipping methods. But you must avoid focusing too much on the minimization of the handling cost, only to end up messing the whole thing. When all is said and done, you need to remember that gold bullion is valuable, and hence it has to be handled in a special way (which accentuates the handling cost). The third cost that you are likely to incur when trying to sell 1oz gold bullion is that which is related to taxation. Here, we are looking at things like Value Added Tax (VAT) and also the one that is referred to as capital gains tax. The justification for these costs is in the fact that the government provides a civilized, enabling environment for affairs (like the sale of bullion) to take place. Subsequently, all people, including gold bullion sellers, have to contribute to the government’s upkeep, through taxation. The way to minimize this particular cost is by opting for forms of gold bullion that are subject to favorable taxation regimes. It is worth noting, for instance, that bullion items like the 1oz Britannia gold coins are not subjected to either the ordinary Value Added tax (VAT) or the Capital Gains Tax (CGT) in Britain. To learn more about buying and selling bullion visit www.bullionuk.com
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Gold, Silver, Coins, Bullions, Buy, Collect, Invest, Bar,
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