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The Sell Gold Silver Era

Sell Gold Silver

If you want to sell gold or silver, you may be surprised to learn that even though both metals are at a record level price, a lot of people are still waiting it out as much as they can before they cash in. And with the economy still in shambles, many people believe that the price of both metals will continue to soar as the dollar bill continues to drop.

And with prices going up in mortgage rates, taxes and so forth, many consumers are holding out for the price of the metals to increase as well. Those who sell gold and silver know that its history shows 30 years of increasing value and because both metals are secure verses the dollar bill, it’s seen as the perfect investment by those who are buying and selling gold and it’s counterpart.

As far back as man can remember people have sought out both metals simply because of their scarcity. And while both are certainly rare, more and more of us have sought to sell gold the most. People want it. The world wants it. And someday the precious metal may very well be the only real source of real money for our country, since we’re currently hanging by a very thin thread with paper currency.

We’ve borrowed so much from other countries that we’ve exhausted our sources. We are so far in debt that there’s very little hope that we’ll ever get out. And sooner or later it’s a very real possibility that our paper currency may be worthless.

Yet, if you have gold to sell, your chances of separating yourself from being a part of our country’s debt is very good. Before you make a decision on how to sell gold however, you need to understand just how much the precious metal is worth.

The first thing you need to do is separate your valuables into piles. Place coins in one pile, jewelry in another pile and so forth. And don’t forget that while it’s obvious that you can sell gold coins and gold jewelry, it’s also possible to sell scrap gold. If you’re unsure what should be considered scrap, items that are broken, damaged or in very bad condition will generally fall into this category.

Next you’ll need to decide how much of the precious metal is in each item. And while it’s easy enough to determine this in jewelry by knowing its karat, if you have items that are antique and unmarked, you may need a professional appraiser to help you decide how much your item is worth.

Once you know the karat of each item, you’ll want to use a digital scale to weigh each pile and then note the weight in ounces.

Then you’ll need to look up the spot price of the precious metal the same day you plan to sell your gold or silver. You’ll then need to take the spot price and multiply it by how many ounces of the precious metal you’re selling.

Then you need to decide where to sell your gold. Where you sell it will depend on the items you have. For example if you’re going to sell gold jewelry, you might want to take it to a jeweler, but if you’re selling gold coins, you’d want to take it to a coin dealer. Or if you plan to sell gold or silver scrap, you’ll want to find a buy sell gold and silver online or local dealer to sell it to.

Some Facts About Buying Selling Gold

Buying Selling Gold

When it comes to buying and selling gold, people have really taken an interest due to the recent record gpld prices and the downfall of the economy. However, many people often make the mistake of just buying the first jewelry piece or gold coin they see and never really do their research beforehand. Without research, that coin you thought was going to be worth a lot of money may be worth a lot less than what you paid for it.

And sadly, there are a lot of scammers out in the world, willing to take advantage of someone’s lack of knowledge, so before you invest in that really good deal, stop and question that item’s real worth, and arm yourself with the following guidelines before you make that final decision.

It’s always important that the business you choose to deal with be not only reputable, but an expert in the items they’re offering to sell you.

You as a consumer must know the actual  market cost of gold to sell. Prices for the precious metal fluctuate all day long, so you’ll need to check the price that very same day you’re planning to sell gold. And if you’re planning to buy gold, you should expect to pay a higher premium for pieces that are 1/10th, 1/4th and ½ ounce verses those that are a full ounce.

You’ll also need to understand that when you’re selling gold, there will always be fees or commissions included in the total price. Every business in the buy sell gold industry will get their cut, some higher than others.

Keep in mind that anytime you’re selling gold for cash, there’s always risk. Not every business is reputable and even if you’ve done your research, there’s always that chance that something will go wrong. And when your interest lies in purchasing the precious metal, keep in mind that there’s always a chance that the price to sell your gold later on may drop. The price of gold can go up and down.

And finally, a few terms you may want to remember when you’re learning how to sell gold:

Bullion is a term used to describe an item that is valued by its weight in the precious metal.

Spot price is a term meaning the open market price for a rare metal or commodity.

Troy is the term used to measure the price of the precious metal. A troy ounce is 480 grains or 31.1034768 grams.

With the above knowledge, buying and selling gold can be learned over time, just as long as you have the understanding and do the research that’s required. And with a little patience, you can be well on your way to a profitable business no matter how little or much you have invested in the valuable metal.