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Where to Sell Gold – Three Places to Sell Your Gold for Cash

Where to Sell Gold

sell goldDo you know where to sell gold for extra cash? You should find out because gold is a hot seller right now. That old gold jewelry cluttering your jewelry box is worth money.

Selling scrap gold is a great way to pad your pockets. Gold is always in demand. Even when the economy is not doing well, you can make money by selling unwanted gold. There’s always someone willing and able to buy what you have.

This is great news, but there’s a catch. You have to shop around for the best deal. Some gold buyers will not offer you a fair price. They might try to cheat you out of what you really deserve. That’s why you need a list of places to sell your gold. As long as you have options, you can get multiple price quotes.

Here’s a list to get you started.

1. Local Pawn Shop. The pawn shop is the first place most people go when they want to sell gold. It’s certainly the best place to go if you’re desperate for quick money.

The downside is the pawn shop owner will try to pay you as little as possible. The owner needs to turn a profit. And that means getting your gold for the smallest price possible.

Get your gold appraised before going to the pawn shop. An appraiser can give you an idea about the worth of your gold. You might even get lucky and have the appraiser offer to buy from you. Another thing to realize is the appraisal value almost has nothing to do with what you’ll actually get.

Pawn shops do not buy items at appraisal value. You could go in with a bracelet that’s worth $1500. The pawn shop owner definitely will not pay you that much. As mentioned earlier, the pawn shop has to make a profit. The owner has to buy the bracelet for less so they can sell it for more.

You should only sell to a pawn shop when you need the money immediately. You won’t get full value, but you will walk out of the store with cash in your pocket.

2. Online Auction. Online auction sites such as eBay provide a venue for selling unwanted gold. Before putting your goods up for auction, you need to get it appraised. Take the appraisal value into account when posting your auction.

eBay allows you to set a reserve price. A reserve price is the lowest amount you’re willing to accept. Consider the $1500 bracelet from the first example.

You could put the bracelet up for auction, and set the reserve at $1500.  That means you will not accept anything less than that amount. However, bidders can still bid the price up beyond what you’re asking.

Getting More Information

Finding out where to sell gold locally is as easy as going online or picking up your phone book. You might also want to check into one of those companies that purchase gold through the mail. Whatever you decide, make sure you’re dealing with a reputable business.

Sell Broken Gold For Quick Cash

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.