Grandparents gifted me & S/O 100g of 99.99% gold to start a college fund, since we are expecting a baby. How do I convert this literal bar of gold into a more fungible/secure investment?

Photo of the gold bar. I have no idea if the serial number or seal I covered up are secure, so my apologies if this is a terrible photo

I looked around for any advice about selling gold and APMEX, local coin collectors, and /r/pmsforsale were all recommended. “Cash for gold” stores were universally panned.

However, since I’m interested in eventually throwing this money into an index fund (maybe even a gold ETF) I was wondering if there’s an easier way to liquidate this directly with a bank.

Any help is really appreciated since I’ve never held more than a single silver dollar in my hand before. Thanks!

Edit: wow this blew up! Thanks y’all. To clarify a few things: yes my grandparents are Chinese, but no they don’t care about the gold bar remaining physically gold. They’re much more interested in the grandkid becoming a doctor, so if reinvesting the gold bar helps that, they’re fully on board 🙂

submitted by /u/believe0101 to r/personalfinance
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Source: Reddit: TGIOKDI Upvoted

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