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The Buy Sell Gold Business

Buy Sell Gold

Gold EaglePeople buy and sell gold for various reasons. Some do it for a living, but not everyone wants to become a professional at it. Still, it doesn’t mean we don’t want to sell gold at all, so how does the average Joe get started?

First and foremost, in order to sell your gold you actually need take into consideration how your buyer deals. Most buyers who deal with the public will give you 10 to 20% below the spot price. They will want to make a profit and will need to resale your items in order to make it.

If you don’t mind selling your gold to a private individual, you may be able to get the spot price or even more if that person has a considerable interest in your gold items. And in most cases you won’t even need to worry about commissioning fees if you take advantage of free resources.

Next, know what you’ve got. Generally gold coins are desired more than gold bars. Most buyers would rather not have to pay a large sum of money for a bar when they can invest in a smaller amount of gold like coins, and will often be willing to pay a little more than their spot price.

Then, consider who you’re selling your gold to. While not every business is going to take your goods and run, if you’re thinking about going online to sell used gold, some individuals and even some legitimate businesses will tell you, it can be a risky business to send your items to a buyer by mail. The same thing applies when you’re buying gold pieces by mail from a business or even individual through popular websites like eBay.

Just make sure that you’re dealing with a reputable business, one that is a member in good standing with the BBB is a good idea. (Just remember that not all legitimate businesses are members of the BBB.)

But even if you choose to stay away from the online world and offer your gold to sell to a local dealer, you still need to use caution when even dealing with businesses face to face. If the dealer offers to purchase your gold pieces for a specific amount of money without seeing them first or even quotes you a price for them, you should find another buyer. If a dealer badmouths other buyers in the area and says he or she is the best, chances are they’re not looking out for your best interest.

If you’re planning to invest in the precious metal yourself, don’t make a deal with anyone before you’ve seen the pieces you have an interested in. Ask the seller if you can bring an appraiser along to be sure the items are real, if he or she seems leery of having a professional look at the items, chances are they may not be real.

And always know what the pieces are worth. Whether it’s coins, bullion, jewelry or even a simple trinket, your investment should be a fair deal and not so ridiculously priced that even Donald Trump wouldn’t touch it.

Whether you choose to buy or sell gold, remember, your investment should always earn you the best price possible both now and in the future.

Want to Sell Gold Online?

Sell Gold Online

Want to sell gold online? Before you do, there’s a few things you really need to know. Unlike selling gold face to face, the Internet is a potentially riskier place to sell it, and not every website that offers to buy and sell scrap gold is legit.

Still, not every business on the world wide web is a scam either. It’s just a matter of doing your research beforehand.

The first thing that is an definite given is to never sell gold to a website that even looks suspicious. And by suspicious we mean, if there’s no information about the company, then chances are they’re not going to be legit.

Yet, even with information you still may run into problems and that’s where the Better Business Bureau comes in. If the company is listed and it’s positive, then they’re probably a reputable company.

However, just because they’re not listed with the BBB, doesn’t mean they’re a bad company. It just means you’ll need to dig a little further by Googling them or asking around to find out what you can about their services.

Once you’ve done your research and you think you have the ideal company in mind, make sure you make copies of everything you send and photograph everything if possible.

And make sure you’ve insured the package. Taking the extra steps to copy gives you the added security that may just be needed should the company claim they never received your gold items.

One of the easiest ways to sell your gold on the web is through auction sites like Ebay and Amazon. With both you can post your gold jewelry, gold coins, gold bars, bullion, nuggets or whatever items you may have that contain gold.

You can set your own price and payment specifications and you can even include shipping and handling fees to keep your out of pocket expenses down as much as possible.

However, before you set a final bid price, you should always check the price for the precious metal beforehand. Then, take note that prices change on a daily basis, so selling your gold items at auction is fine, just remember that the price of gold does fluctuate.

And then once you’ve set your price for your gold items, by the end of the auction you may find that your profits were far more than you’d anticipated. Both Ebay and Amazon even allow you to check on your bidder’s history if there’s ever a concern.

Just keep in mind however that both auction sites do have seller fees, so you’ll need to keep that in mind when you set your price. Also, remember that not every auction is successful and you’ll still have to pay those seller fees even if you don’t make a sale.

Remember, when you sell gold online, to insure you’re not going to end up getting the shady end of the deal, always do your research, make copies and take any extra steps necessary before you seal the deal.

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