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The Real Cost of Owning Gold

By Lewis Braham - 2012-09-27T20:30:53Z

Photograph by Paul Hackett/Bloomberg

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To sell your gold, you may need to get it appraised, or "assayed," to verify that it's genuine. This depends on the amount and kind of gold you're selling and the relationship you have with the dealer. If you're selling gold back to the dealer from whom you bought it, such formalities may be unnecessary. Coins that are hard to counterfeit often don't need it. Big bars often do. Assays can cost about $100. Insurers also require appraisals of gold coins, which can run anywhere from $100 to $1,000, depending on the size and value of the collection.