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Ultimate Guide To Selling Gold

Selling gold in today’s economic downturn is big business; frankly, you want to be on the positive side and get a piece of this, instead of letting the gold buyers make like kings.

Pawn shops, street vendors, scrap metal buyers are all taking very good advantage of the fact that so many people are clearing out old gold bracelets, unworn jewelry, gold coins and more in order to get a little extra cash.
Avoid Making Costly Errors
Because of the soaring price of gold, there are many different avenues you can take when you want to sell your gold. Trying to navigate all the potential buyers can be like walking through a minefield, which is ex-actly why Luriya provides this guide to first-time gold buyers.

People know that you will be tempted to accept any price that seems high, even if the reality is that you are being shortchanged by a significant percent-age. Just because your gold item is old and unused doesn’t mean you shouldn’t get fair value for it.

It’s pretty much a free-for-all out there, with vendors popping up everywhere and offering people what seem like great prices for the gold in old jewelry that isn’t being used any longer. Gold has been going up for some time now with no signs of stopping, so the number of such people is only growing. Just a little bit of extra research can get you a lot more cash
"Gold has been going up for some time now with no signs of stopping."
Research Your Gold Selling Options
Understand the gold market around the time you plan on selling. The price of gold can fluctuate quite a bit during a period of economic upheaval, and you want to be sure you’re fully aware of the market value before you embark on your trek to find the best buyer.

Do the research involved in understanding how gold is valued. Since most jewelry isn’t anywhere near pure gold, you should find out the gold content be-fore you sell so as to have an idea how much money you can make. Regardless, you should be paid only by the ounce, so be skeptical of any other measure-ments used.

If you end up selling gold to a company that isn’t operating within the parameters set by law, then you could lose your gold.

If you opt for a mail-order company (you have the best chance of getting the most cash for gold). It is also important to find out their package insurance policy (do they insure your gold while it’s in transit, and for how much?)

When looking for where to sell gold, your knowledge of the karats, weight and market value of the gold will help you see through makeshift dealers without any history of buying gold.
Finding the Right Gold Buyer
The market for selling gold has risen drastically recently, with gold buyers popping up left and right in different venues, hoping to convince you to part with your wares.

Shop Around For Prices
When trying to sell gold in this current climate, the one good thing about the plentiful availability of all the buyers is that you are afforded an opportunity to get different quotes and appraisals. You can, in ef-fect, shop around for prices that correspond to official quotes, and use these to determine what you should expect when you finally choose a buyer.

Lots of Buyers
Because the price of gold is one of the few things seeing positive increases in the current economy, you can probably find people willing to buy your gold almost anywhere you look.

This availability of buyers, however, must be scruti-nized, to make sure the one you choose is as closely aligned with your best interests as possible.
How to Choose Your Buyer?
  • 1
    You want to position yourself to get the best price for your gold from among the many competitors for your business. Street corner vendors, popular malls, pawn shops and online buyers are all available for you to investigate and discover the best price for your gold.
  • 2
    Another useful tip when looking for where to sell gold, is to check out the potential buyers’ gold ap-praisal resources or service. Reputable companies are far more likely to have a verifiable source for appraisals.
Avoid selling gold to a middleman, such as a scrap metal dealer. The reason for this is because the only way they get paid, is to buy your items for much lower prices, before selling it to the refiner at wholesale market value.

There are plenty of resources available for you to gauge the price on your own (roughly), and then compare this to the offers you receive from the intended buyer.