How to sell your gold
With gold prices at a record high you may decide you want to sell your gold, whether jewelry or some coins you may have stashed away. Due to this very increase in price more and more gold buyers have started popping up and not all of them have your best interests at heart. There are so many new gold buyers appearing on the market because it is relatively simple to enter the business as you only need a pawn broker license or a second hand dealer license making it easy for anyone to set up shop anywhere.
How to Sell Gold Jewelry
The transaction itself is simple as daylight. Sell your scrap gold and get the cash. However, the problem is that you want to sell your gold for the best possible price and to make sure you are not being taken for a ride.
The first piece of advice you should follow religiously is not to fall for late night infomercials offering to take the burden off your hands. The biggest mistake people make is making an uneducated decision with prior research into current gold prices and how much they can get for their jewelry. Plus, jewelry can often have a higher value than just the pure gold content because, for example, an old piece might be worth much more. However, this can only be judged in person and by an experienced gold buyer.
Another problem you will face when you sell your gold is that some of these companies will pay you a criminally low rate of 18% – 20% of the value of your gold contrary to an established buyer who will pay the normal rate of 50% – 60%.
To make certain you get the correct value for your gold and do not get ripped off when you sell your gold you should educate yourself a little in regards to today’s gold prices. You should also go to a number of different dealers to get an appraisal or at the very least weigh your gold at home on a kitchen scale, determine the karats of your piece and then work out the minimum you should receive according to the price of gold.
If you are not certain where to sell gold the best option would be to contact an established buyer whose business is mainly gold buying. Make sure to investigate the company behind the website as well by checking the Better Business Bureau’s website to determine if any complaints have been filed against the buyer you are considering doing business with.
How to Sell a Gold Medallion
If you own a gold medallion that you think may be worth more than the gold content because it is an estate piece then you really must consult two or three different, experienced gold buyers for an appraisal. It would be a shame to sell a valuable piece just for the gold when you can get so much more. This is valid for any piece of jewelry.
The best way to guarantee you will sell your gold for the right price is to go with a reputable gold buyer who has plenty of experience. A gold buyer with a track record spanning many years is clearly not in the business of scamming people or he wouldn’t have lasted. Protect yourself and sell your gold for the best possible price by not falling for the hype. We do recommend an established operator, in fact it is an INC.500 corporation and has been around for quite a while, feel free to contact them : Cash4GoldUSA