America is one of the largest gold consumers in the world. If you are thinking of selling gold or silver bullion, it’s safe to assume your wish is to get the best price. It’s also quite possible that you have been investing money in gold. Therefore, making now the time to benefit from your long-term investment. Or maybe you’ve inherited precious gold jewelry like a necklace, bracelet, rings, or earrings from a family member and you’re wanting to offload it for a good deal.
Whatever the case may be, our gold cash buyers have put together tips on selling gold to help assure your transaction is as smooth as possible. Keep in mind, price, safety, and ease of sale are the three primary factors to consider when selling your gold.
Fair Price of My Gold
- Some precious designs or products are more prized or are in greater demand at a given time in the market. Products like gold coins hold their value through a sale. The sovereign coins are universally acknowledged legal tender, you can sell them without any delay. They are the highest in liquidity.
- If you have gold bullion bars, you can get a good resale value. This is especially the case if the bars have been kept in a vault or safe. The bullion bars which have been manufactured in reputable mints and refineries have the highest resale value.
- If you want to sell your gold jewelry, you won’t get the same resale value. Most of the jewelry today has alloy and other decorative additions, leading to a lower value. The refiner will have to melt it and make it in the form of a bar, round, coin, or jewelry.
Selling Gold: Where Can I Sell?
In general, most of the people go to a bullion dealer or pawnshop. It is not the recommended way to sell most gold. This is because a dealer will always give you the lowest return on investment. They may not even give the true value of the jewelry, keeping
room for negotiation. Even you try your best-negotiating skills, you will receive an offer far below what you can get from a reputable bullion dealer. Nevertheless, if you have decided to sell your gold pieces in a pawn shop, try some of our tips to get the best price.
- First. You must keep track of the current spot price of gold and compare the buyback prices from the dealers in your area.
- Second. Clean up your gold with hot, soapy water at home.
- Third. Bring forward any documentation that shows your original purchase such as a receipt. Dealers are more comfortable buying when they see the jewelry is authenticated.
Selling Gold Online
A quick way to offload your gold is to sell online. Online bullion dealers typically offer a better price than local pawn shops. This is because they have less operating expenses. Another option is selling gold on Amazon or eBay. The price will be lower than authorized dealers. This is due to the uncertainty in the market as there is a risk of fraudulent products and buying fake or damaged gold. This is a common concern on both Amazon and eBay.
Learn more about our business and why we are the best place to sell gold online.