Gold is one of the most precious and coveted metals on earth. It increases the value of different commodities. And some investors also hold gold to cushion them against economic instability in hard times.
And if you have some gold jewellery or are looking to invest in gold. There are many reasons you want to sell your gold. For instance, you may realize that you own jewellery or gold you are not using, and you may want to sell them.
Whatever the reason, you need to know what your gold is worth. Additionally, knowing where and how to sell your gold is essential.
Where to sell gold
Liberty Gold and Silver
It is in Portland, and it is an Oregon-based precious metal buyer. They buy gold, platinum, silver, palladium, and many more metals at the same time. And you should make sure to insure the gold before shipping. However, the company will reimburse you as soon as it receives it.
SellYourGold.com will forward a free mailer that you would use to ship your metals through FedEx. The company will send the mail with $1000 for shipping expenses. And if you find it too low, you can appeal for an increase.
Pawnshops frequently purchase gold; therefore, you can try taking your gold to a pawn shop.
Jewellers are willing to buy gold since they use it to make precious jewellery. And they also tell you the metal’s worth, ensuring that you get a good deal.
Local metal dealers
these companies have experience determining the authenticity of gold and assessing its actual value.
How to Sell Your Gold
Try to sell your gold at the right time
At some point, gold prices increase when stock markets and other assets are not doing well, this means that you will get the best price when the economy is weak. Although gold prices sometimes are at a record high price, you may find yourself having stocked gold jewellery at a time when the prices are pretty low. However, you don’t need to rush but hold on until you get better prices.
Choose the right agent for the type of gold you have
It is ideal to always look for a merchant specializing in the kind of gold you want to sell. Therefore, if you are selling pre-owned gold, it would be best to look for a buyer specializing in jewellery. And if you are selling a brand gold item, look for a company that will buy it based on its market value and not the value of gold it has.
Don’t be afraid to negotiate
You might decide to sell either online or to any other local shop. If you think that the amount they offer is too low, it would be better to engage in a little friendly negotiation. Every client understands their customers. Therefore if you negotiate professionally and ask for a reasonable price, there is a possibility that the client will give you an offer higher than what they gave you in the first place.
Check the company’s reputation before selling your gold
Having invested your money in gold, you should be extra careful when selling them. However, if you are not confident enough about a business that buys gold, check its reputation first. Go through their customer reviews to find out what they say about their experiences. This way, you will avoid being exploited by gold dealers who offer meagre prices.
Use a calculator to calculate how much you will get before shipping anything
To avoid any losses, you should look for a gold calculator before selling your gold. The calculator won’t give you the exact figure, but you will get a rough estimate of how much your gold is worth.
If the seller gives you an offer you feel is low, turn it down and avoid being exploited. However, gold buyers may lower their prices to cover other costs, such as shipping and insurance costs.
Compare the prices first before selling
If you are not in a hurry selling your gold, try visiting local gold dealers and pawnshops. Comparing prices before selling your items to an online agent or company will give you an advantage
Gold is one of the most admired precious metals globally; therefore, it is in high demand. If you want to sell your gold, find out its worth and avoid being lured. Look into the market to gain insight into how much you can make. If you need fast cash, you can go to your local pawn shops. Otherwise, going online is more profitable.