It's based on the current spot price. Depending on the form of the gold, you can sell very quickly to a trader at a little higher or lower than spot, I'd say 1-

It's based on the current spot price. Depending on the form of the gold, you can sell very quickly to a trader at a little higher or lower than spot, I'd say 1-2%?. You'd get more if you sell directly to someone, but that's risky of course. Retailers sell at a premium above spot, around 3-4% for regular bullion and more for coins like American Eagles or Maple Leafs.