Sell Broken Gold For Quick Cash
Editor | Apr 12, 2010 | Comments 0
Sell Broken Gold
Think you can’t sell broken gold for cash? Well, think again. Even with the economy at a stand still, gold buyers have an interest in purchasing your old gold more than ever. And at a going rate of around $1100 an ounce, it’s the perfect time for you to cash in on this booming business if you can.
And of course everywhere you turn, there is always a business offering to buy up broken gold jewelry, dental pieces and more, which can be very profitable, especially if you have a lot to sell. However, even at the going rate of $1100 per an ounce or more, you shouldn’t expect to get much more than 70% of that amount anywhere you try to sell gold.
Also, keep in mind that not every buyer will be willing to give you top dollar for your gold pieces, so you’ll want to shop around. You may find the easiest way to get rid of your treasured scrap gold is to sell your gold locally.
Now your first instinct may be to head straight to the pawn shop to get rid of your unwanted jewelry. However, this should perhaps be your last choice since pawn brokers often won’t give you top dollar for your items.
You may find that some jewelry stores will offer you close to the going rate for the precious metal, but that will also depend if they are willing to buy pieces that are non-repairable.
Another option you may want to consider is a gold selling party. These types of parties can either be attended if you know of one being hosted in your neighborhood or you can host your own if you enjoy entertaining. Parties like these consist of guests brings their gold jewelry or other precious metal pieces, which are then appraised and bought on the spot for the quoted price.
Sometimes trade shows are an excellent way to find brokers who may be interested in purchasing your gold items. This is usually a great resource for those who don’t mind driving to a bigger city where trade shows usually occur.
The Internet is another excellent resource for selling unwanted gold. Places such as eBay are a great way to auction off your old gold items and you may even be able to make a little more through a private individual verses a gold buyer. Of course you should also keep in mind that you’ll need to pay listing fees, closing fees and any other funds that are asked for by auction sites like eBay, so you’ll want to figure in these costs in as well.
Other online resources you may want to consider are forums that may have an interest in the precious metal, companies who offer you the opportunity to mail in your goods to them where they’ll evaluate their worth and in return send you a check.
Offline you may find that classified ads are the way to go if you don’t mind the wait, but keep in mind, you’ll have to pay a listing fee for your ad. And, don’t forget your friends and family who are sometimes the best resource when you want to sell broken gold.
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Filed Under: Sell Gold • Where to Sell Gold
