Where to Sell Gold – Three Places to Sell Your Gold for Cash

Where to Sell Gold

sell goldDo you know where to sell gold for extra cash? You should find out because gold is a hot seller right now. That old gold jewelry cluttering your jewelry box is worth money.

Selling scrap gold is a great way to pad your pockets. Gold is always in demand. Even when the economy is not doing well, you can make money by selling unwanted gold. There’s always someone willing and able to buy what you have.

This is great news, but there’s a catch. You have to shop around for the best deal. Some gold buyers will not offer you a fair price. They might try to cheat you out of what you really deserve. That’s why you need a list of places to sell your gold. As long as you have options, you can get multiple price quotes.

Here’s a list to get you started.

1. Local Pawn Shop. The pawn shop is the first place most people go when they want to sell gold. It’s certainly the best place to go if you’re desperate for quick money.

The downside is the pawn shop owner will try to pay you as little as possible. The owner needs to turn a profit. And that means getting your gold for the smallest price possible.

Get your gold appraised before going to the pawn shop. An appraiser can give you an idea about the worth of your gold. You might even get lucky and have the appraiser offer to buy from you. Another thing to realize is the appraisal value almost has nothing to do with what you’ll actually get.

Pawn shops do not buy items at appraisal value. You could go in with a bracelet that’s worth $1500. The pawn shop owner definitely will not pay you that much. As mentioned earlier, the pawn shop has to make a profit. The owner has to buy the bracelet for less so they can sell it for more.

You should only sell to a pawn shop when you need the money immediately. You won’t get full value, but you will walk out of the store with cash in your pocket.

2. Online Auction. Online auction sites such as eBay provide a venue for selling unwanted gold. Before putting your goods up for auction, you need to get it appraised. Take the appraisal value into account when posting your auction.

eBay allows you to set a reserve price. A reserve price is the lowest amount you’re willing to accept. Consider the $1500 bracelet from the first example.

You could put the bracelet up for auction, and set the reserve at $1500.  That means you will not accept anything less than that amount. However, bidders can still bid the price up beyond what you’re asking.

Getting More Information

Finding out where to sell gold locally is as easy as going online or picking up your phone book. You might also want to check into one of those companies that purchase gold through the mail. Whatever you decide, make sure you’re dealing with a reputable business.

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