Selling Unwanted Gold for Cash
If you’ve ever considered selling unwanted gold for cash, you’re certainly not alone. But, what if you don’t actually have any to sell? Many of us would love to profit from the recent rise in the price of gold, but often don’t because we think the only ones who can are people who already own the some. However, that may just not true.
There’s no reason your average Joe or housewife who’s never owned valuable gold or gold jewelry can’t make some extra cash like everyone else. As a matter of fact, there’s really no reason not to, if you need to make some extra money.
Look for other people who are willing to host a gold selling party in their home. If they’re leery, you can always get the ball rolling by offering to host it in your own home. When you host a party you generally have two options.
If you’re not playing the host, you’ll want to buy or borrow a weight scale and gold testing kit that can test the authenticity of the gold being offered for sale. Keep in mind that you’ll need a source to sell your gold purchases to at a profit for yourself.
If you’re willing to host the party yourself, you can save some money by hosting a party on a commission for companies wanting to buy gold. You won’t make nearly as much money as if you do it yourself, but you won’t have to worry about weighing, testing or appraising the goods since these companies do this for you.
If you have some money you want to invest, you could place an ad in your local newspaper offering to buy the gold and or gold coins. Before you make a deal however, you’ll want to test and weight the items in question to make sure they’re really as valuable as you think.
If you’re not in a hurry to make your money, you might try searching for the valuable metal using a metal detector. There are some downfalls to this method, however. Depending on the areas you search you may find very little if any at all and the areas you are able to search may be limited. On a positive note, you could find other valuables.
No matter which method is right for you, selling unwanted gold for cash is simpler than most people think. With determination and an open mind, the possibilities and bucks are unlimited.
How Can I Sell My Scrap Gold?
A few days ago a very good friend called me. Her son had been digging in their backyard and found what appeared to be a very valuable diamond ring. Because there was no way of knowing how long the ring had been there, my friend called me to ask more about the ring. Several of the diamonds were missing, so to her it really wasn’t worth keeping. Since times are hard, and just about every one could use some extra cash, I wasn’t surprised when the next words from her were, “How can I sell my scrap gold?”
Generally a jewelry store would be the first place to go to see about selling your scrap gold, since they can pay a very decent price for a ring such as my friend’s. However, some jewelry stores aren’t willing to purchase items that need major restoration and some don’t want jewelry with any damage.
Many people may suggest going to a pawnshop. However, this can be the worst places to take your jewelry since they often offer very little money for it. Pawnshops are used to dealing with people down on their luck, and often take advantage of that situation by not offering a good price for people’s valuables.
Sometimes you can find brokers that want to buy your valuables if you know where to look. Often these guys will place an ad in the newspaper offering to buy your old jewelry, coins and other precious metals, but they can also be found at trade shows.
If you’re not in a hurry to sell, auctions may be a great opportunity. However, local auctions are primarily for those wanting to sell a lot of stuff. You may find an auction house that will list your individual items, but these places usually want items in decent condition.
Online auction sites like eBay and others are a good choice since they can offer your jewelry to a wider audience. You should be aware however, if your item doesn’t get any bids, you may still be responsible for listing fees, which usually are not very much.
Often the best resources are your friends and family. There’s no shame in asking family and friends, “How can I sell my scrap gold?” They may very well know of a few places that you didn’t think of.
