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How to Sell Gold Locally

How to Sell Gold Locally

how to sell gold locallyWith the economy going down hill fast, it’s hard to make a decent living and still manage to keep our heads above water. Everything has skyrocketed and many businesses are taking advantage of the financial disaster in more ways than one.

One of the best ways many of us are finding a little financial relief is by buying and selling precious metals. Right now it’s a very popular business and more and more people are learning how to sell gold locally.

Of course there is the question of why just offer to sell your scrap gold to a local gold buyer only. Why not expand to other areas and make an even bigger profit? The answer is simple. Selling to a local buyer usually means more of cash and less of a risk.

However, before you just jump right out there and offer to sell your gold to anyone, there are a few things you should keep in mind.

For instance, not every gold dealer will want everything you have. Some only deal in specific items. So while you may walk into a coin shop with gold coins, you may or may not be able to sell your gold jewelry or possibly gold bars there. There is also a difference in how pure your gold is. 10k, 18k and 24k each have different values.

Another thing to keep in mind is if you’re selling gold coins be sure the date on the coin is not worth more than its precious metal content. You may be surprised to learn that the coin is far more valuable for its date of minting.

If you’re just checking for quotes, you should be aware that the quoted price could change in a matter of hours. So if you asked for a quote early in the day and then decide to come back later in the afternoon to sell your gold for that price, you may very well be in for a rude awakening. The standard price of a precious metal is actually set twice a day.

If you’re planning to sell gold scrap you should remove any other valuables such as jewels before selling. Not only does this make things easier when weighing the items, it’s also extra money in your pocket since you may profit from the jewels as well.

When in doubt on where the best dealers are to sell gold locally, check your local yellow pages. And don’t forget that places like auction houses and brokerages are a valuable resource when you want to sell gold as well.

Where to Sell Gold Jewelry

Where to Sell Gold Jewelry

where to sell gold jewelryTimes are tough and with the economy becoming even worse you may be considering parting with some of your old jewelry. If so, you may also be wondering where you can sell gold jewelry.

Many people may suggest that you visit a pawn shop. This should be your very last stop however, since most pawnbrokers aren’t willing to give you top dollar for your gold items. And if you’ve ever stepped foot inside of a pawn shop you’ll know why. Practically everyone wants to pawn their items, so this creates a lot of risks and these guys just want to make as much money as they can.

If you have a local jewelry store, you may want to check with them to see if they would be willing to buy your items. Although they might not give you top dollar for your pieces, they will probably be able to offer you a lot more than a pawn shop would.

If you don’t know of a jewelry store in your area you can try asking family or friends if they know of one in their area that is reputable. If you’re planning a trip to their area, it might be worth the visit since you’ll be in the area anyway.

If you’re a night owl you may have noticed that there are quite a few gold buying infomercials offering to buy your gold, however you should be cautious when you’re dealing with these types of companies and check them out before you sell gold to them.

Unless you know that they are reputable from friends or family, you’re probably better off elsewhere unless you want to risk the possibility of never getting your money.

If you’re hoping for a little more than market value for your gold, you may want to consider putting your items up for auction. Keep in mind however; that auction sites both on and offline do charge a fee, so unless your pieces are extremely valuable, you’re probably better off selling them to a dealer.

If you know of a private individual who would be interested in what you have for sale, this might be an ideal way of selling your gold and is also an easy way to avoid any fees. However, if the individual isn’t familiar with the current value of your items, he or she may not be willing to pay you full price either.

Other resources you may want to consider when trying to sell gold jewelry are classified ads both online and offline, social networking sites, online lists that allow you to post without a fee or your own website or blog.

There are a good many more articles on where to sell gold jewelry on this blog.