Selling Your Gold: What to Know and Where to Go
Recently, the News Tribune, a daily newspaper based out of LaSalle, Illinois, conducted an experiment. Interested in the fact that gold traded as high as $1,900 per ounce just a few months ago, the reporters had a wedding band and dental crown appraised by local merchants. Both items were 14-karat gold, a long sought-after good.
Referring to the metal’s resurgence in popularity as the “21st century gold rush,” the newspaper was interested in their items’ value. In the midst of a poor economy, it is little surprise that jewelry owners might be looking through their armoires and dresser drawers to see if they have gold rings and necklaces that might fetch a decent price.
The News Tribune averaged an offer of $100 for the wedding band, which weighed 6.8 grams, and $30 for the 2.5-gram dental crown. A little extra footwork resulted in higher estimates, an opportunity that could have been lost had the sellers given up and accepted the lowest prices offered. The immediate lesson learned is that holding out for the best offer is likely a good idea.
Consumers who are struggling as a result of the country’s current economic climate may be looking to earn money quickly by selling their valuables, but it is best to search for the best deal available. Doing so will take extra time and effort, but the ownership of gold and the current buyer’s market go hand-in-hand.
A commodity such as gold will continue to be popular, but its’ value will continue to fluctuate. The News Tribune likely developed interest in selling their gold items given that the metal’s value has not risen above $800 for more than 40 years. Averaging twice that price as recently as early October, those with gold on hand – perhaps literally – may be reconsidering what items they want to keep in the family for future generations. When it comes to selling gold, consumers should keep the following in mind:
1. The value of gold increases when the market is unstable. A decline in worth is inevitable, so sell wisely.
2. Always sell to a reliable source. For example, merchants established as gold buyers Oklahoma City, such as jewelry stores, are far more trustworthy than drop-in centers whose flashy commercials hint at guaranteed wealth that may or may not materialize.
3. Be careful about selling gold by mail. Doing so generally means there is no chance to negotiate a higher price for items, leaving a seller potentially stuck with an offer that could have been beaten.
4. Research. Take the time to find a good deal. Given gold’s current value and the number of outlets interested in buying it, finding interested buyers who will offer a fair price shouldn’t be too difficult.
5. Don’t be afraid to ask questions of gold buyers. A reputable establishment should have no problem addressing concerns or queries.
While the News Tribune is hardly the first organization to conduct a gold-selling experiment, the results are still interesting to those who may be looking to make a little money on a piece of jewelry they’re no longer using. Armed with information about gold’s current value and how to secure the best deal when selling, perhaps this century’s answer to the gold rush will continue.
Five Unique Ways When You Need To Make Money Fast
Sometimes the need to make money fast arises and you don’t know where to turn. There are payday loans and part-times jobs, but sometimes you need to make money and already have a busy enough schedule. While there are tried and true solutions when you need to make money fast, most of those require substantial effort, time, and commitment.
Here are five sure fire easy ways to help you when you need to make money fast.
• Rent Your Driveway: If you live in an urban area and need to make money fast, consider renting out precious parking space to needy motorists. Depending on the area, spots can go for as much as $400 dollars per month. Thanks to sites like Parkatmyhouse.com, renting your driveway or parking spot when you need to make money fast has just gotten easier.
• Sell Your Brain Power: When companies cannot or don’t have the resources to program computers to compile the information they need, they turn to sites like Amazon Mechanical Turk to find people to perform low level tasks when they need to make money fast. This is a great resource when you have some spare time and need to make money fast because you can start immediately and fit it in around your schedule. The site pays you out when you have a minimum of $10 dollars.
• Sell Your Gold: While selling gold for cash is a fairly common way to help out when you need to make money fast, most of the companies you are familiar with offer a mail in program. Try finding a gold dealer in your area when you need to make money fast like one of the many pawn shops in Oklahoma City that pays cash on the spot for all kinds of metals and coins.
• Sell Stuff In Traffic: This idea requires a small amount of start-up cash but has the potential to have a huge return on investment and satisfies your need to make money fast. You can sell a variety of items from bottled water to t-shirts to motorists stuck in gridlock traffic. This is the definition of a captive audience so put on your best salesman’s hat when you need to make money fast this way.
• Sell Your Name: We all see those popup ads wanting us to fill out contests, but whoever thought that would satisfy your need to make money fast? Sites like Cash Crate offer pay in exchange for you filling out sponsored offers. The pay can range anywhere from $.10 to $20 depending on which offer you fill out. Like with Amazon’s Mechanical Turks, this can be started immediately and fit in around any schedule. This site pays you out when you have a minimum of $20.
There are many alternatives to payday loans when you need make money fast. Depending on your needs, these ideas may help to make money fast or just give you some extra spending cash when you need it.