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How to Sell Unwanted Gold

Sell Unwanted Gold

Why sell unwanted gold? That’s a question you may be asking yourself right about now if you’ve been a little worried about cashing in on the popular metal. And if you were keeping track of the going rate of gold, you’d know why you should be selling to gold buers right now.

At around $1,100 per an ounce presently, gold is making a lot of consumers happy to cash in on everything from gold coins, bars, bullions, gold jewelry and even dental pieces. As long as it contains gold, it can be sold for fast cash.

Yet not too long ago it used to be that people just weren’t really interested in really selling their old gold items. And even if they knew their gold items were worth something, they would just drive to the nearest gold buyer or pawn shop and get as much as they were offered for it. Or they’d throw it in their yard sale for a specific price and be done with it.

So now that consumers have gotten wind of the decent amount of money you can make when you sell gold, they’re cashing in, but not always at the right places.

One of the biggest businesses that’s profiting from the current gold rush are pawnshops. They know that desperate people want to sell quickly without any hassle and pawnbrokers have no problem stepping in to buy your valuable pieces.

But, if you really want to sell your gold for the best price possible, you may need to avoid the pawnshops and do your research. Don’t just try to get rid of your items to the first business who has a sign posted, offering to buy and sell used gold. Instead, know what your items are really worth first, then shop around for the best offer.

The easiest way to know if you have enough of the precious metal that’s worth selling is by checking it’s purity. Most pieces, especially jewelry will be engraved with a number and the letter “K” (karat) (like 10K, 14K, or 18K) and a higher number will mean a higher gold content and value.

Once you know the value of your gold piece, make sure you know exactly how much the going rate is for your items. The market fluctuates daily, so while that old wedding band may be worth a couple of hundred in the morning, it may only be worth ¾ of that by mid-day.

Don’t pass up a coin dealer or jewelry store when you have coins or jewelry. Even if the pieces are not in perfect shape, these businesses may still take an interest in what you have since the precious metal is very valuable.

Think outside of the box when it comes to selling scrap gold. While there’s nothing wrong with considering an online dealer, refiners will allow you to skip the middle man if you know how to talk to them.

Most refiners however, are often leery of purchasing from individuals since there’s generally not enough items to be worth their time. They want a large quantity of the precious metal, so if you have enough friends and family who are willing to  sell unwanted gold, then you might just be able to grab a refiner’s attention.

Selling Gold Online Tips and Safeguards

Selling Gold Online

Selling gold online is one of the many ways you can make some money from your unwanted gold items. And while it may not be one of the fastest ways, it is one of the easiest for many individuals who want to cash in on the recent gold rush using several resources available on the world wide web.

A great place to start is by using an auction site like Ebay. With Ebay you can auction off coins, jewelry, spoons, gold nuggets and even gold bars. Ebay lets you set your own price and payment specifications as well as shipping and handling fees if you want to.

And one of the biggest advantages of using an online auction site is that once you’ve set your price, you may even discover that your bidders will pay more for your items by the time the auction ends. Just remember that you will need to pay set up fees for the auction itself and even if your item doesn’t sell, you will still need to pay those fees.

Another great resource to sell gold to are businesses who specialize in buying gold by mail. These types of businesses will often send a mailing envelope that contains everything you need to itemize and send your scrap gold items to them. In addition, most will even pay for the shipping and insurance fees for your pieces.

Then, all you need to do is fill out the required information and send it back along with the items. The company will then weigh the gold pieces and send you a check for their value. Just be aware that once you receive the check and cash it, there’s no turning back.

Forums and groups that have an interest in the precious metal are another great way to sell your gold pieces. Most of these types of sites have free membership and will allow you to post to their site as long as it pertains to the subject matter.

Just be sure you are following their guidelines when you post and never spam the members, otherwise you’ll find yourself booted from the site.

Online classifieds can become another way for you to sell gold for cash. Most online classifieds are free to post to. A great example of this is Craigslist.

Craigslist allows you to post an ad for free to any area you choose. However, as with any classified ad, you’ll want to use caution with the information you give out since not every buyer will be legit.

And speaking of legit, when it comes to dealing with any business or individual online, never sell to a website or buyer who seems suspicious. If there’s no information on the company whatsoever, then chances are they’re going to run with your valuables.

And if an individual your dealing with seems pushy or isn’t willing to do things your way, then it’s a very good idea to find another buyer.

Yes, selling gold online can be a lot easier than face to face, but you also need to be willing to take the steps necessary to assure that you don’t get the bad end of the deal either.

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