Selling Your Gold For The Best Price

Selling Your Gold

selling your goldSelling your gold can be the best decision you’ve ever made right now, especially with the continued steady rise in the preciouprice of golds metal’s price. But before you cash in your gold, you should know that while there are a lot of businesses who are willing to buy your gold, not every buyer is willing to give you the best deal.

So to assure that you get the best deal, you need to check with the Better Business Bureau to make sure the buyer you want to sell your gold to isn’t going to rip you off, simply put. However, you also need to keep in mind that not every business good or bad will be listed with the Better Business Bureau, so you’ll want to research the company thoroughly.

Also, keep in mind that not every company is bad even if they’re not willing to give you the best deal. A very good example of this are pawnbrokers. These brokers are often the first place sought out by those who want to sell gold in a hurry.

They should however be the last place you should visit unless you’re willing to part with a lot of money for your valuables. Pawnshops often purchase a lot of goods as well as loan money for those goods, so making a profit from anything they purchase requires them to buy low and sell high.

One of the best places to profit when you want to sell gold may be a jewelry store or a coin shop. Be aware however that some gold jewelry buyers are only interested in jewelry and nothing else.

So if your valuables consist of other items, you’re better off going some place else. If you do have jewelry, that jeweler should offer at least 70% of the going rate in the precious metal, minus any fees they may have.

Online businesses that deal specifically in buying gold through the mail can be a great advantage when you’re trying to sell scrap gold. Just be sure to do your homework to find out if the business is really worth sending your gold items to, otherwise if something happens in between the time you send your goods and they receive them, you may quickly find out its not such a great deal after all.

And you need to remember that once you make a deal with them and the check is in your hand, you can’t change your mind.

If you have a lot of items to sell, you may be able to skip the middleman and go straight to the refiners. However, it’s very rare the find a refiner who’s willing to buy from you if you’re a private individual since small amounts of the precious metal isn’t worth their time or effort.

Other options you may want to check into are brokerage companies who may be willing to purchase gold coins, bars, nuggets and so forth, jewelry shows and trade shows if your goods are in decent shape and coin shops if you have plenty of coins to spare, (pun intended!)

Just remember, always do your research before you consider any business, otherwise you may end up with less money than you’d hoped for when selling your gold.

Filed Under: Sell Gold


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