How to Sell My Gold For the Best Price

How to Sell My Gold

When I wanted to learn how to sell my gold and get a fair price without getting ripped off, it took a great deal of research on how to sell gold before I discovered that very secret. Often times, selling gold can seem like a very confusing challenge, especially if you’re not very familiar with the process.

However, despite how confusing it may seem, one of the easiest ways to sell gold and profit from it, is by learning how the process works. And what it all comes down to is this:

Worth -You need to know what the value of your items are really worth. You have to know how much of the precious metal your item contains. One of the easiest ways to tell is by looking for a stamp or impression on the item. On gold jewelry pieces the markings can usually be found in the form of 8k, 10k, 14k and 18k. The higher the number, the more pure gold the item contains, and the more you’ll be able to sell your gold jewelry piece for.

Weight – The weight of your item is also a must know, no matter if you’re selling gold coins or trying to sell gold jewelry. Knowing how much your gold item weighs, along with the carat number, will help to determine how much money you will get for your item. One of the best ways to figure out how much your item weighs is by having a jeweler weigh the item for you, or you can do it yourself by purchasing a digital scale.

Quality – Not a lot of people realize that the quality of the piece, especially in jewelry is extremely important to dealers. And while it may seem like a good idea to accept an offer for the precious metal content of the item just by itself, you can actually make more of a profit by selling old gold for its historical value on some pieces. Also a jewelry piece that is handmade may be worth far more than one that is made by a machine because of their quality craftsmanship.

Research – Research is almost always a step many of us tend to forget. We often find ourselves in a hurry to sell gold coins, jewelry or whatever the valuable item may be to the first business we see or are familiar with.

When it comes to the question of where to sell gold, think refiners if you’re selling scrap gold, jewelry stores if you’re selling gold jewelry and private collectors if you want to sell gold for the best price. And if all else fails, don’t forget auction houses, antique dealers, estate houses and brokerage firms who may have an interest in your items.

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