Selling Old Gold and How to Get the Best Price

Selling Old Gold

Selling old gold may seem easy enough for anyone who wants to cash in on the current gold rush, but before you rush into your hasty decision, there are a few things you should consider.

A few years ago my father-in-law had some gold coins to sell. They were not only made of the precious metal, but had also aged in value over the years. And because at that time the price of gold was skyrocketing, he decided to cash his gold coins in.

However, what he discovered from the coin dealer was that his coins were worth far more for the collector’s  value than for the meltdown scrap gold value. So of course he sold them for the coin collectors valuation.

But, if it hadn’t been for the coin dealer’s knowledge of their real worth, my father-in-law might have gotten less of a deal on his valuable coins instead of what he did get for them.

And although you don’t always need a coin dealer to tell you the collectible value of a coin, it’s not always as easy trying to find the value of a piece of jewelry or other antique valuables that are made from the precious metal.

Instead, you’ll need to do your homework if you want to sell gold and make as much money as possible doing it. There are many great resources available to help you get started no matter what type of item you may have in your possession that is made from gold.

You already know you can visit a coin dealer to find out the value of your coins, but where can you go when you want to sell gold jewelry that has aged over the years?

Well, there are a few options that you can try. You can take your pieces to a jeweler who specializes in old gold jewelry or you can take them to an antique dealer who can just as easily assess the value of your pieces.

You should be aware however, that not everyone is willing to tell you how much your items are worth without charging a fee. And of course having your pieces appraised isn’t always the cheapest route to go.

So if you can’t afford to hire an appraiser, you could head to your local library or bookstore and look for a book that may tell you the value of your pieces. However, you may be limited to the amount of information you can get on your items in question if no one has published a book on the subject yet.

Or you could take advantage of all that the Internet has to offer and search for more information about your piece to find out whether it would be worth cashing in for its antique value or if you’re better off cashing in at the gold scrap value with its going rate of around $1100 per an ounce right now for the gold content alone.

Of course instead of selling old gold, you could always just keep it and pass the valuables down to your children if you can afford to do so.

Filed Under: Sell Gold


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