How to Sell Gold Locally
Editor | Mar 13, 2009 | Comments 0
With the economy going down hill fast, it’s hard to make a decent living and still manage to keep our heads above water. Everything has skyrocketed and many businesses are taking advantage of the financial disaster in more ways than one.
One of the best ways many of us are finding a little financial relief is by buying and selling precious metals. Right now it’s a very popular business and more and more people are learning how to sell gold locally.
Of course there is the question of why just offer your scrap gold to a local buyer only. Why not expand to other areas and make an even bigger profit? The answer is simple. Selling to a local buyer means more of a profit and less of a risk.
However, before you just jump right out there and offer your gold to anyone, there are a few things you should keep in mind.
For instance, not every gold dealer will want everything you have. Some only deal in specific items. So while you may walk into a coin shop with gold coins, you may or may not be able to sell your gold jewelry or possibly gold bars there. There is also a difference in how pure your gold is. 10k, 18k and 24k each have different values.
Another thing to keep in mind is if you’re selling coins be sure the date on the coin is not worth more than its precious metal content. You may be surprised to learn that the coin is far more valuable for its date of minting.
If you’re just checking for quotes, you should be aware that the quoted price could change in a matter of hours. So if you asked for a quote early in the day and then decide to come back later in the afternoon to sell your gold for that price, you may very well be in for a rude awakening. The standard price of a precious metal is actually set twice a day.
If you’re planning to sell scrap you should remove any other valuables such as jewels before selling. Not only does this make things easier when weighing the items, it’s also extra money in your pocket since you may profit from the jewels as well.
When in doubt on where the best dealers are hidden locally, check your local yellow pages. And don’t forget that places like auction houses and brokerages are a valuable resource when you want to sell gold as well.
Related posts:
Filed Under: Gold Jewelry • Scrap Gold • Sell Gold • Where to Sell Gold
