Want to Sell Used Gold?

Sell Used Gold

Want to sell used gold? You’re certainly not alone. With the economy not showing any signs of improving any time soon, more and more individuals are cashing in on the precious metal whether it’s in gold coins, gold nuggets, gold bars or gold jewelry form.

And right now is the perfect time with the going rate at an all time high of around $1100 per an ounce! But how do you get started? What’s the first thing you should do?

Well, if you’re like many people, you may be tempted to just run right over to your local pawn broker or coin store and just cash everything in for whatever they’re willing to give you. But, if you want to get the most for your scrap gold, you need to do some research first!

Instead of selling your gold to the first local buyer you see, check around with other buyers in the area and compare prices. Chances are you’ll learn really quick that while some gold buyers are willing to give top dollar for your old gold, others are going to give the lowest price they think they can get away with.

Also keep in mind when you’re trying to sell gold, while some businesses don’t mind quoting you a price, that price can easily change in the very same day due to the spot gold market value. And while gold buyers may be excited about buying your gold, not everyone will be interested in what you have to offer.

For example, some coin shops won’t want to buy your gold jewelry simply because they don’t deal in jewelry! The same goes for a jewelry shop and trying to get rid of your gold coins there. You should also know that all gold is not created equally, meaning that a piece marked 8k is less valuable than a piece marked 22k. And speaking of markings, if you can’t find the “k” mark, chances are your piece may not be real gold.

If you know for a fact your piece is really gold and your ready to sell your gold, remember this…

If you have a lot of gold jewellry, check your local jewelry store to see if they’re interested in buying it. Even if the jewelry is broken, some stores will still purchase the pieces and either repair them or scrap them for profit.

Online gold scrap dealers are the way to go only if you know the site is reputable and you’re really sure you don’t ever want to see your gold items again. After you ship off your pieces and receive your check from the company there’s usually no turning back.

Gold coins are almost always the easiest way to cash in gold. However, be sure to check the face value of the coin before you consider the value of the metal. You may find profit more from the age of the coin rather than the gold content itself.

Individuals may be a great option if you don’t have a lot to cash in on. Keep in mind however, most individuals are interested in making a profit, so you probably shouldn’t expect to gain a huge profit when selling this way.

And finally, pawnshops should always be your very last option when you’re wanting to cash in your old gold. Pawn brokers have so much junk already that they may not want to offer much when it comes to your scrap gold jewelry, so you may want to go elsewhere when you‘re trying to sell used gold.

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