In today’s tough economic times, you might find that you want to sell gold in your possession to pay a mortgage or car payment – or even finance that vacation you never seem to have the money for.
Many of us have old gold jewelry from defunct relationships that we just don’t wear or want anymore. Why not sell that old gold and do something you really want or need with the cash?
Scrap gold isn’t only found in jewelry. Other places to look are:
Gold bullion and gold coins; gold flake; gold dust and sweeps; dental crowns and bridgework; gold screen or mesh; gold shot and solder; gold sponge; polishing and buffing dust; nuggets; computer mother boards; old cell phones; gold plated connectors.
As you can see, there are many more places to look for gold than simply your jewelry box. And, it doesn’t matter what condition the gold is in – it can be restored and reused. Virtually all of the gold that has ever been mined is still around because it lasts forever.
After you’ve completed your hunt for gold, call a local gold dealer or look online for information about how to get a gold-selling kit. You’ll fill out the form describing the gold (be sure to make a photo copy of the form before sending it), place it in the envelope and take or send it to the gold dealer.
The dealer will probably pay you 10 to 20 per cent less than the current price of gold – that’s a fee for the handling, assessment and processing of the gold. Price varies from merchant to merchant, so do your research to find out what’s the best price you can get before you sell your gold.
Selling unwanted gold can get you back on a more secure financial track and may be a path you’ve never thought of before. You can even have fun while you’re doing it and invite family, friends and neighbors to a festive gold selling party.
There’s lots of information online about how to get your party together and it can be profitable and fun for all.
Remember that the price of gold changes from day to day as the market fluctuates, so when you’re ready and want to sell gold, make sure you know what the going rate is.
When you make contact with a local gold dealer or an online website, you should get an information kit that will tell you all you need to know about how to sell scrap gold.
Then, you can make an educated decision about how and when you want to sell gold – and get the best price you can for your efforts.
Who doesn’t need some extra cash these days? You can get extra cash fast by selling gold. You can sell gold jewelry, gold scrap, gold dental and bridge work or any items you might have that contain gold.
Selling unwanted gold from an old marriage or relationship has become quite fashionable – you can even have a gold selling party, have fun with friends and family.
Gold selling parties have become a trend that’s quickly catching on in all areas of the country. Again, you can check online to see what’s involved in hosting a gold-selling party for your friends, family and neighbors.
You might also want to check with a local gold buyer to see what kind of deal he can offer. Hosting a gold selling party with a gold expert can ensure a fun time for all – and everyone walks away with some spendable cash.
With the price of gold roaring higher each day, many are selling unwanted gold contained in old or broken gold jewelry, coins and medals to get the cash they need or want. There are several methods by which you can easily sell scrap gold.
You can get lots of information online about companies who will buy your gold and will be happy to send you an information kit telling you all you need to know to sell your gold quickly and easily.
For some, selling gold that came from a defunct relationship and bad memories is a way to release all the bad “karma” that’s hanging on. For others, selling gold might be a necessity in order to pay a mortgage or car payment.
Whatever your reason to sell gold, you’ll find that the market is ripe and you can usually make a good deal.
In these tough economic times everyone is looking for a way to find extra cash and selling gold seems to be the way many people are finding it.
You can find dozens of methods on how to sell scrap gold on the Internet – and there are also dozens of buyers anxious to purchase it. Do your research and find the best method for you.
When you decide you want to sell your gold, the first thing you should do is check out the purity of each gold piece. Keep in mind that some jewelry will have a stamp indicating its gold content. 24 karat gold is pure, while 14 karat gold is 14 parts of gold to 10 parts of another metal.
After determining the content of the gold items, go online or read the newspaper to find out the current gold price. The price of gold changes on a day to day basis, but you can get a good idea of what your gold is worth.
You may be able to sell gold locally by calling scrap gold dealers, local pawn shops and other gold merchants to see what price you can get for your gold. Also, check out online dealers and make your decision based on the best price you can get for your unwanted metal items.
Jump on the bandwagon and join the gold rush that’s going on right now while gold prices are highest. Selling gold could be just the avenue you’re looking for to pay bills, take a vacation or sock away some extra cash.
Sell Scrap Gold
In this economy it is a prudent and pragmatic idea to make the most of what you have. When dealing with selling your scrap gold, smart homework will help you get the most money for it. To be able to make the most profit out of selling scrap gold, consider the following steps.
Steps in Selling Scrap Gold
Step 1. Have your gold appraised before you make the sale. The first step in making any sale is to first know the proper selling price for your merchandise.
The first thing you need to do when considering selling scrap gold is to calculate the price of the gold itself. This can easily be done by first determining the gold percentage in your scrap gold, weighing it, and using these to calculate its market value.
24 karat gold is 100% gold, use this to calculate the percentage of the gold that you have by dividing its karat by 24. So, 18K gold is 18 ÷ 24 or 75% gold. 14K is 14 ÷ 24 or 58.33% gold. 10K gold is 10 ÷ 24 or 41.67% gold. (Most gold jewelry is stamped with its carat someone on the piece.)
Gold coins are typically at least 99% pure gold, so you just figure them at the spot gold price.
After you’ve determined the carat of you gold pieces, you should weigh it and convert its weight into ounces. (Most scales will weigh in grams or pennyweight.)
You can then multiply the weight of your gold by the percentage of gold that is in it. Once you have the corresponding ounces for your real gold you can calculate the worth of your merchandise by comparing it with the current price of gold.
Step 2. Knowing the market value of your gold will help you when you go to a dealer to sell gold. Just remember that you’re not going to get the full market value for your scrap gold because the dealer needs to make a profit for his time and investment, so naturally he will be paying you a percentage of the gold market value at the time of the transaction.
When you’re selling your gold for scrap, always remember to remove any extra valuables, such as gems, attached to the gold before selling. This makes it easier to weigh and also ensures that you do not lose money due to undervalued appraisal.
Always keep in mind that the gold scrap price is based solely on the value of the gold, and does not consider craftsmanship, history, aesthetic, and personal value attached to the merchandise. If other gems are attached to the gold, you can sell these separately to make more money.
Step 3. Consider your options and find reputable dealers. When selling unwanted gold, usually the best path to take would be to sell gold locally. Look up jewelers, coin shops, or brokers who are willing to buy your gold so that these can be melted to make pricier items or who would be planning to sell these to refineries.
Selling scrap gold locally is a good idea because it maximizes possible profit and lessens risk. When local buyers are not available, other options like gold buying companies and websites are also viable as long as they are legitimate and check out alright with the Better Business Bureau.
These companies usually send you a kit containing an insured envelope and merchandise form; if these are lacking then better to deal somewhere else. Remember sell to the best buyer, but do not be too hasty.
Step 4. Other things to consider when selling your unwanted gold are to keep in mind that when checking out quoted prices that these can change pretty quickly since standard gold prices are set twice a day.
It is a better idea therefore to get the quoted price in writing. Always remember that when trying to make a profit from selling scrap gold, nothing beats an informed seller.
Buying Gold For Investment
Buying stocks and shares is subject to different variables that range from market trends to company directors. Other commodities are subject to different variables including weather for agricultural commodities.
If you are looking for a safe buy that will give you high returns, you should consider precious metals. Gold is a good investment for anyone who is looking for value both in the short and long-term. Following are reasons why you should buy gold.
1. Security – As a precious and valuable metal, you have the security of knowing that you are getting an asset that will always be reliable as a measure of value. The metal does not tarnish or deteriorate and does not go bad over time. You can keep the gold for fifty years and it will still be as valuable as it was the day it left the refinery. When other assets drop in value, gold retains its original condition.
2. Independent value – While currency may be affected by political and economic influences, gold retains its independence. While the influences may cause the gold price to fluctuate, the value remains the same. The value of the gold remains high throughout the world regardless of the situation, currencies, credit worthiness and productivity.
3. Stability – While the value of different commodities continues to fluctuate, gold remains stable. Even with the price fluctuations in the open market, the value of the metal has remained stable. It has also shown the tendency to continue rising against all odds, and this is something that happens throughout the world.
4. Long-term reserve – Gold has proven to be a good reserve asset and as a long-term investment, it is a smart option. Investing at least 10% of your wealth in precious metals will help to protect you against currency and price fluctuations.
5. Liquidity – You can trade gold at any time from any part of the world. The stable value of the commodity means that wherever you are, you can get the full value. While the value of currency will fluctuate against other currencies, gold remains the same. There will always be willing buyers 24-hours a day.
The easiest and most economical way to buy gold is by buying gold bars and coins. Larger gold bars tend to be more economical due to the lower premium per ounce. A number of private mints sell gold coins whose value will depend on the gold content. It is important to buy your gold from a reputable firm.
How to Learn Online Gold Trading
Gold trading has become a very good way to make some money, and it has become very popular in the last couple of years. While it has always been a very profitable way to spend some time, the advent and rise of the Internet has allowed us to witness people who have made remarkable profits in the gold market.
If you’re new to trading gold, there are some important things that you should know beforehand. We’ll break the initial steps down for you, and while this won’t be a comprehensive list, it will be some very valuable information.
The first thing that you’ll want to do is to become familiar with gold and its economic importance to the world. This is done by consulting various online resources, namely in the multitude of trading websites on the Internet. There are a number of great authority sites that are worth checking out, and it’s a good idea for potential traders to understand who they are. For most people, FOREX.com is one of the biggest and most renowned sources in the industry. It relies on a plethora of experts to provide market insight and strategy.
In addition to reading as much as you can about trading gold, most experts consider trading with demo accounts to be one of the best ways for you to get acclimated with the industry. The demo account is very beneficial because it can help you learn some tips andtricks about what you should and shouldn’t do. Of course, there is a downsideto this.
Firstly, you’ll find that one of the biggest problems is that since you’re not trading with real money, most people will fail to take it seriously. Secondly, it doesn’t particularly convey the feeling of pressure that comes along with a potential loss. While it may not be anything like the real thing, it is still a very good start.
Gold trading online can be a very profitable venture, though there is also the potential for it to be a risky one. If you’re looking to trade successfully, you definitely have tobecome a student of the craft and learn just about everything that you possibly can.
While there’s nothing stating that you’ll become a top earner with greater knowledge of trading, you will most definitely be more suited for potential gains, losses, and decision-making as a whole. If anything, it’ll put you in the best position of making profits via trading.