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Sell Gold and Silver Now or Wait?

Sell Gold and Silver

 

If you want to sell gold and silver, right now is the perfect time to do it. Both precious metals have gone up in price considerably and shows no signs of slowing down anytime soon.

Yet, some investors are actually advising against selling right now, claiming they’re not making any profit themselves and want you to wait to cash in on your gold and silver.

But should you really wait? Sure, the prices stand a really good chance of continuing to rise, but it doesn’t mean they don’t stand a chance of falling in price either.

It’s almost like playing the stock market with the big difference being both gold and silver will always be worth investing in. It’s a secure investment unlike paper currency and stocks.

And with investors predicating that selling unwanted gold in the future could mean a $3000 per an ounce return, some individuals are beginning to wonder whether it’s really a good idea to sell gold right now or not.

In fact, some are going as far as purchasing both of the precious metals and waiting to see what will happen next. Then, once they know that the prices of the precious metals are inflating as much as they have been in the past, they’ll know it’s time to cash it all in.

In fact, even other countries have realized that the need to sell gold and buy it is more valuable than the US dollar. They know that the paper currency isn’t backed by anything and can be as worthless as the material it’s printed on with the global economy’s current debt problems.

Still, there are those of us who are ready and willing to cash in what we have right now, simply because we desperately need the money. So if you’re ready to cash in all in, here’s what you need to know.

Be leery of those late night commercials and online companies willing to buy your gold and silver through the mail. While not all of them carry a bad reputation, you should still take added steps just in case you need proof that you did business with them, should the need ever arise.

Always make copies of everything, including any paperwork sent to you and take snapshots of all of the items being sent to the company and include yourself in the photo if possible.

You may also want to insure the package if the company doesn’t, but you need to keep in mind that there is a maximum to what the postal service will insure.

You may find your best options are local jewelry stores, coin shops and as a very last resort, pawnshops who are fairly easily to deal with when it comes to buying your gold and silver items.

Yet, even businesses like these aren’t always perfect when it comes to offering the best to their customers. They need to make a profit just like everyone else, so it’s always a good idea to do you research beforehand. Then, once you know you’ve got the best deal possible, you can sell gold and silver without looking back.

Need to Sell Your Gold?

Sell Your Gold

Thanks to the government’s financial disaster, many people have been feeling the pinch of not having enough money to cover their bills on a month-to-month basis. A few weeks ago it hit home when my father-in-law announced, “I need to sell my gold today.” They were words I never thought I’d hear him say.

My father-in-law is proud of his gold coin collection. As a matter of fact, there’s not a visit that goes by when he doesn’t bring out his coins to show them off. So to hear my father-in-law utter those words was practically heartbreaking. Yet, what can you do? When money is needed for food and bills you have to do what you can, just as my father-in-law did.

Of course there are numerous gold out there who are willing to take your precious metals off of your hands. But, not everyone is willing to give you the cash you need, immediately. That’s almost a rare thing unless you’re willing or actually can find a local gold dealer.

My father-in-law lives in a small town, so about the only buyers he could find in his area were pawnbrokers and jewelry stores. He ended up having to travel almost 2 hours away to make any sort of decent money from his collection of coins.

If you’ve been thinking about selling your own coin collection or jewelry, your best bet is to stick to the local dealers if you’re looking for fast cash. Internet and television companies who deal in precious metals can take time to send you your money and it’s a safe bet they’ll be sending a check, which you’ll want to clear with your bank first. So by the time everything has been cleared, you could be waiting for at least a few weeks, if not longer!

You could try auctioning off your gold items when you need to sell gold, but most auction houses require a week’s notice and sometimes longer to advertise your items for the auction. And if you’re considering an Internet auction site, those can take weeks.

If you don’t mind waiting a few days, you might want to consider having a yard sale. As silly as it may sound, you’d be surprised how many dealers are willing to drop by a yard sale to find some great treasures.

If you’ve got gold scrap that you want to sell, try asking your local coin shops if they’re buying. If they’re not, they might at least know of a buyer in the area who is. Jewelry stores are also a good resource since some may be willing to buy your old gold scrap and restore them.

And finally, check the classifieds in your local newspaper if you need to sell gold immediately. Often times there are dealers or private individuals looking to buy gold. Just remember to do your research before you accept just any offer.