What Is the Best Place to Sell Gold?

Best Place to Sell Gold

The best place to sell gold will usually depend on what type of pieces you have that you are wanting to part with. If you are wanting to sell gold coins, you certainly won’t be able to get a great price from a pawn shop for them. And if you’re trying to sell gold jewelry, you’ll have better luck selling them to a jewelry store if they’re in repairable condition.

If you want to sell gold that is scrap, but still worth selling for its gold content, you may want to consider an online buyer who purchases broken jewelry, dental pieces, wire, bullion, nuggets, damaged coins and practically anything made from the valuable metal.

How it works is the online buyer offers a free kit that includes a postage paid envelope and information on how to sell gold to them. They may even include some information about their company. Once you receive the kit, all that is required is to fill out all of the necessary paperwork, place your gold items in the envelope and send it back to them.

Once they receive the package, they’ll weigh your items and send you a check for the weighed items’ value. Some of the more reputable mail order gold buyers will even send you an email with the amount they are offering for your gold for your confirmation.

If you’re concerned about getting a really great deal for selling gold, you definitely want to do your research first. Generally most people already know that pawn shops usually don’t give you very much of the market value for your pieces. It’s a good idea to call around before you sell your gold to just anyone.

Newspapers, online forums, classified ads both on and offline, private clubs, online groups and auctions are all an excellent source for selling gold coins, old jewelry pieces and other collectibles made from goldwhen the face value is worth more than its melted down market value.

Don’t rule out places like swap meets, trade shows, flea markets or antique malls either when it comes to selling gold for cash. And you’d be surprised at how many other places and events you can take advantage of to make some extra cash from your gold items.

And if you’re trying to find the highest price offered for your items, most often jewelry shops have been known to give up to 80% of the market value. However, it’s unlikely you’ll get anymore than that since most businesses need to make a profit for themselves as well.

But, if you still not sure where to sell gold, try asking your friends and family if they know of any good places to sell unwanted gold to. You may find that they know of a few places you didn’t.
 
And finally, no matter how desperate you are to raise some extra money, don’t consider getting rid of precious heirlooms or any items that you’ll regret selling later. Even if you know the best place to sell gold, personally, there’s no guarantee that once you’ve sold your item to them, you will get it back later. Gold items that you sell are usually on the way to a refiner to be melted down shortly after you sell them.

How to Sell Your Gold

How to Sell Your Gold

If you need to sell your gold for cash, there are numerous ways to do so. For example, if you want to sell gold jewelry, you can take it to a jeweler who may be willing to give you as much as 80% of its market value if the piece is in excellent shape.

But if the piece is antique, you may want to think about taking it to an antique dealer instead. Or you could offer it up for auction locally or to an auction site like eBay if you really want a good price for it.

If you want to sell gold coins, a coin dealer is a good option if the value of your coins are worth enough. This was the option my father-in-law chose after he decided to cash in his 36 years worth of coin collection.

If the coins are extremely rare, you might consider offering them to a private collector who may be willing to pay their full worth. Or you can put them up for auction or see if an antique dealer would be interested in them if they’re old.

If you have broken pieces of gold jewelry or other items that can be melted down, you can sell broken gold as scrap and make a decent profit through a refiner either online or offline. If you choose to go with an online refiner, just beware that not every website you see claiming to buy gold is going to be legitimate. There are plenty of scammers willing to steal your valuables, so if the site looks fishy, chances are it’s probably a scam.

A good reference for an online gold buyer would be if they’re listed with the BBB. The same goes for offline refiners that advertise on television or in magazines. So always know the risks and protect yourself before you deal with these types of businesses.

Generally, when people want to sell gold for cash, local businesses are the best way to go. And if you think you’ve run out of options, the yellow pages in your local telephone directory is always a great place to start.

If you have coins, jewelry or pieces that may be of interest to individual collectors, flea markets and consignment shops are a great place when you have gold to sell. Just remember, both of these options will mostly likely have a commission fee you’ll need to pay, so you will want to include those fees into the price of your gold item. And try to find a shop that deals specifically in what you’re selling.

And keep in mind, no matter who you decide to make a deal with, before you do, go online and check the going rate for gold the day of your transaction. That way you’ll know whether or not the business is making a legitimate offer for your items.

Finally, don’t sell your gold items to any business that offers you cash without seeing the pieces first. Any business that is legitimate will always want to see what you have for sale so that they can examine it to know what it’s worth.