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Tips on Finding the Best Places to Sell Your Gold

Sell Your Gold

www.SellGoldGuide.comThe gold rush has begun, and anybody with even a small amount of gold can make a profit. With the recession, it’s no wonder that prices for gold have soared and buyers are willing to pay more. But if you’re wondering where the best place for you to sell your gold is, check out the options below and match your needs, whether it be for maximal profit, immediacy, or minimum shipping cost- to the seller’s offers.

Places To Sell Your Gold

Collectors or Private Individuals

If you find yourself in possession of pristine gold jewelry, antique coins, or pricey family gold heirlooms, then the best way for you to make the most profit out of a sale is to approach collectors and interested parties. This should be your first option when you’re ready to sell gold. The reason behind this is because collectors usually are already knowledgeable about gold appraisal and gold prices, and are appreciative of the history and culture behind a certain gold piece; therefore, most often they are in the best position to offer you the right amount of money for your gold items. This does not mean that you do not do your homework however. A very gullible seller can sometimes be too good a temptation.

Brokers, refineries, and jewelers

If however the gold you have is in less than pristine condition, then your next best bet would be to contract a sale with refineries, jewelers, and brokers. Do not expect to make top-notch price if your jewelry or gold merchandise is broken. This is due to the fact that these refineries or jewelers will either shoulder the cost of repairing your gold piece, reshaping it into some other piece, or in the case of brokers, finding buyers who are willing to do so.

Auctions

Auctions are a good way to make good enough money for your gold merchandise. You have two options: either you sell your gold at a local auction or an online one. Using an auction is usually good if you are a first time seller with a valuable gold piece for this allows you to control how you would want to sell your gold while also attracting buyers who are willing to shell out for your selling price, or even to pay more than your selling price. Keep in mind that though selling gold locally allows you to save on shipping, auctions of any kind still do charge fees.

Coin shops and Gold Selling Parties

Gold selling parties are a new and innovative way to sell your gold. By joining a gold selling party you can simultaneously get your gold appraised, meet sellers, and also meet potential buyers for your gold, while coin shops are the absolute best place to sell gold coins.

Pawnshops and Websites

These should be your last option when selling gold, simply because they may offer the least selling price for your gold and also may involve some risk.

The best thing you can do is to know the options than you would want to prioritize first, after which try contacting your chosen best places to sell your gold to be able to get a general market overview of their buying price, fees, and services. This allows you to calculate the possible net profit you can make as a result of your efforts.

Gold Selling Private Parties

Gold Selling Private Parties

Sell Gold GuideGold Selling Private Parties are the perfect way to sell gold if you know of a friend hosting one or you’re willing to host one yourself. Not to mention that because they’re not really open to the public, you can pick or choose who you want to extend an invitation to, should you decide to host one.

However, before you send out those invites or accept one, there are a few things you need to keep in mind to assure the party you host or plan to attend is a success.

First of all, you should keep in mind that when you’re selling gold using this method, you will usually only get up to half of the market value that your piece is worth. So while you’re probably going to get more than you would from a pawnshop through gold selling parties, you may get less than you would from a local refiner or jewelry store.

You should also keep in mind that when you’re trying to sell gold jewelry at an event like this, don’t sell a family heirloom, anything worth more than the gold content itself, and don’t leave valuable gems or stones in the piece. What you can do is sell gold scrap, which would include pieces like broken jewelry and anything that isn’t worth much in face value.

However, if you’re thinking about  selling gold coins, by all means, go for it if you know their value is worth far less than the precious metal they’re made from. And if you’re just not sure of their worth, you can take them to a coin dealer or collector who can tell you whether it’s worth trying to sell gold coins at the party or not.

Also, if you’re unfamiliar with how to sell gold in the first place, you may want to consider having an antique appraiser take a look at your pieces before you part with them at a party. Just because your item is made from the precious metal, doesn’t mean it’s worth more than the face value of it.

And if you’re unsure of  where to sell gold at if your piece is worth more than its gold content, start by talking to the person you had your piece appraised with. Chances are if it’s old, they may have an interest in buying the piece or at the very least, know of someone who would be interested.

But, the good news is, if you’re willing to be a host, you don’t have to really worry about selling your gold unless you really want to. And of course you can still make money by commission just from your friends and family who sell what they have. Keep in mind though, that you may need to pay out of pocket expenses for a party kit or appraiser in order to get started. You may also need to pay for any appetizers and drinks that will be served at the party.

And finally, always know what the actual market price is before you attend or host any gold selling private parties. Appraisers aren’t perfect and not all of them are willing to pay top dollar for yours or your friends valuables.