What Is the Best Place to Sell Gold?

Best Place to Sell Gold

The best place to sell gold will usually depend on what type of pieces you have that you are wanting to part with. If you are wanting to sell gold coins, you certainly won’t be able to get a great price from a pawn shop for them. And if you’re trying to sell gold jewelry, you’ll have better luck selling them to a jewelry store if they’re in repairable condition.

If you want to sell gold that is scrap, but still worth selling for its gold content, you may want to consider an online buyer who purchases broken jewelry, dental pieces, wire, bullion, nuggets, damaged coins and practically anything made from the valuable metal.

How it works is the online buyer offers a free kit that includes a postage paid envelope and information on how to sell gold to them. They may even include some information about their company. Once you receive the kit, all that is required is to fill out all of the necessary paperwork, place your gold items in the envelope and send it back to them.

Once they receive the package, they’ll weigh your items and send you a check for the weighed items’ value. Some of the more reputable mail order gold buyers will even send you an email with the amount they are offering for your gold for your confirmation.

If you’re concerned about getting a really great deal for selling gold, you definitely want to do your research first. Generally most people already know that pawn shops usually don’t give you very much of the market value for your pieces. It’s a good idea to call around before you sell your gold to just anyone.

Newspapers, online forums, classified ads both on and offline, private clubs, online groups and auctions are all an excellent source for selling gold coins, old jewelry pieces and other collectibles made from goldwhen the face value is worth more than its melted down market value.

Don’t rule out places like swap meets, trade shows, flea markets or antique malls either when it comes to selling gold for cash. And you’d be surprised at how many other places and events you can take advantage of to make some extra cash from your gold items.

And if you’re trying to find the highest price offered for your items, most often jewelry shops have been known to give up to 80% of the market value. However, it’s unlikely you’ll get anymore than that since most businesses need to make a profit for themselves as well.

But, if you still not sure where to sell gold, try asking your friends and family if they know of any good places to sell unwanted gold to. You may find that they know of a few places you didn’t.
 
And finally, no matter how desperate you are to raise some extra money, don’t consider getting rid of precious heirlooms or any items that you’ll regret selling later. Even if you know the best place to sell gold, personally, there’s no guarantee that once you’ve sold your item to them, you will get it back later. Gold items that you sell are usually on the way to a refiner to be melted down shortly after you sell them.

Sell Gold Stores Are Everywhere Now

Sell Gold Stores

Buy and sell gold stores have been popping up almost everywhere ever since gold has risen so drastically in price. People are willing to cash in and businesses are willing to buy, buy, buy!

And while there are numerous buyers who are willing to take your gold items off your hands, before you say yes to just anyone, keep these tips in mind.

Not everyone will be able to give you the cash you need immediately, so if you’re looking to sell gold today, your best bet may be to find a business in your community or the surrounding area that’s willing to pay for your goods as soon as you make a deal verses an online or television commercial business where you have to wait for your check to arrive in the mail. And then you may have to deposit it at your bank instead of just cashing it.

Of course if you live in a small town like many people do, you may only have the option of selling your gold to a pawnshop unless you’re willing to drive to the nearest city for a better deal. Many pawnbrokers may not give you a lot for your items because they loan out so much money already and don’t make much of a profit on the items they do have.

If you live in a town that has a jewelry store, sometimes that is your best option if you want to sell gold jewelry since they may give up to 70% of the going market rate for gold. You shouldn’t expect much more than that however, since most businesses aren’t likely to go any higher than that percentage.

Another option you may want to consider is a coin shop. Coin dealers may give you just as much as a jewelry shop will as long as they are coins of course.

However, make sure that the coin you’re selling isn’t worth more for it’s collectible value since many consumers tend to overlook that option. The same should also go for jewelry and any other items you may have that are antique or rare.

Another option many people don’t really think about when it comes to selling unwanted gold is a flea market store or resale shop. Anyone who knows the value of the precious metal may be willing to invest in what you have to offer for the right price.

And finally, keep in mind that when you do decide you want to sell gold, anything that is a family heirloom you’re better off leaving at home in your collection no matter how desperate you are. Otherwise you may end up regretting it or cause a family feud if anyone were to ever find out.

And once the item is gone, chances are it’s gone for good since most items that are sold as scrap gold are melted down for re-sale. So you’re better off sticking to items you know aren’t a family treasure and taking them to buy and sell gold stores instead.