Calculate The Value Of Your Items With The Scrap Gold Price Today Before You Sell Gold Jewellery To Hatton Garden Metals Buyer
My Gold Selling Experience
I recently sold some gold and went with a combination of the first two strategies here. I knew that I would be going to a few pawn shops since I had heard that they pay more than the We Buy Gold places. But first, I went to one of the pop-up stores. They offered me pennies on the dollar. About what I expected. Sure, the process only took a few minutes, and they did try to confuse me by telling me the amount I had in penny weight. As I got up to leave, they asked me how much I was looking for. What I had was 14 karat, and I told them I wanted to be paid $20 per gram for my gold. I didnt have much, and I knew I probably would never get this amount, but it is a great negotiating technique to start high.
Then, a strange thing occurred. This person gave me a card which guaranteed me 10% better than any other offer I received out there. I tucked that in my wallet and left.
Next, I went to a few pawn shops. Dont worry, they are OK to go into. The ones I found were pretty clean as well. I went to one chain pawn shop and a few mom and pop shops. What I found was that the national chains will offer you considerably more for your gold because they have more financial backing.
So you see, I more than doubled the money I would have gotten by just doing a little bit of research and leg work. If I had been more fickle, I probably could have forced the 110% promise, but I was happy with the $375 overall.
Bullion Bars And Gold Coins Boca Raton
As the top gold dealer in Boca Raton, William Youngerman buys and sells gold coins, gold bullion and gold collections of all sizes. We understand the importance of investing in gold to solidify and diversify your portfolio. When other forms of currencies dramatically go up and down and experience both inflation and deflation, gold always maintains its value. Gold is one of the safest investments you can make to add stability to your portfolio. William Youngerman buys and sells gold coins, gold bullion and bars to help you protect your investments.
U.S. Gold Coins We buy and sell a ton of U.S. gold coins that are incredibly popular among individuals and investors. Some of the United States coins that we sell include the $20 Gold Liberty, $10 Gold Liberty and other rare U.S. gold coins in the denominations of $1, $2.5, $3, $5, $10 and $20. For more information on the gold coins that we have for sale visit ourU.S. Gold Coins section or call our experts today at 1-800-327-5010.
Gold Bullion William Youngerman buys and sells the highest purity gold bars and gold bullion. We carry Engelhard Gold 1 oz. bars, 10 oz. bars and 1-kilogram bars of .9999 purity. Call us today for pricing or to get an offer on your gold bars!
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Can I Sell Gold Jewelry
Yes, its possible to sell gold jewelry. If you do choose to sell gold jewelry, youll need to decide whether youre trying to sell it as jewelry or as gold, as this will impact your options when looking for a buyer.
If you want to sell your jewelry as jewelry, youll want to look to jewelers, pawn shops, or a way to sell to other consumers, such as through eBay or Craigslist.
If the jewelry is old, you might also have luck selling it to a person or shop that focuses on antique goods.
Selling jewelry as jewelry is usually best if it has some historical or artistic value. A plain gold necklace will be worth less than a well-preserved, hundred-year-old necklace that contains the same quantity of gold because the old necklace has historical significance.
If you want to sell your jewelry for the value of the gold it consists of, youll want to focus on selling to gold dealers or other companies that specialize in dealing with precious metals.
With these buyers, the value of your jewelry will be tied to the amount of gold it contains. Jewelry with higher purity gold will be worth more by weight than jewelry with lower purity gold.
What Is The Value Of Your Gold Today
As of September 9, 2020, the price of gold in the USA is $1,924.27 per ounce or $61.87 per gram a recent record and one of the highest gold prices on record since 2013. Gold prices typically increase as the value of the stock market declines, putting them at recent record highs because of the recent drop in the value of most stock indices.
Many people have gold, either around the house in the form of old jewelry, as old gold coins, or in the form of gold bullion purchased as an investment.
With gold prices at a recent record high, now is a great time to think about selling gold to free up some extra cash.
Although the process of selling gold can seem confusing, there are reliable, trustworthy buyers out there that will give you a great price for your gold jewelry, coins or other types of gold.
Below, weve explained everything you need to know about selling gold. Our guide covers how gold prices work, how much your gold is worth, the best ways to sell it for the highest price and the basic process of selling gold online.
Weve also gone into detail on common mistakes to avoid when selling gold, as well as the pros and cons of selling gold online versus locally through a pawn shop, jewelry store or other type of gold buyer.
Finally, weve provided some expert tips to help you get the best possible price for your old gold jewelry or other gold items.
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Tax Implications Of Selling Gold
You may incur some tax liabilities when you sell some forms of gold. There are no tax reporting requirements when you buy.
Bullion dealers are required to file IRS reports when certain thresholds are met. An IRS 1099-B form must be filed in the following instances:
The reason these items must be reported is that all of them currently trade or used to be traded on commodity exchanges.
IRS regulations require brokers to report all proceeds from stack and commodity transactions. Reporting also only applies if you sell at least the minimum quantity that is equal to the quantity of a commodity contract for the object.
Form 1099-B reporting requirements do not apply to any other coins such as American Gold Eagles, American Buffalo, Austrian, Australian , Chinese or any fractional bullion gold coins.
What Is Gold Worth
Gold is a precious metal, but its also a commonly traded commodity. The market price for gold changes every single day.
For example, gold cost $1,819 an ounce on February 12, 2021.
To know what gold is worth, youll have to look up that days prices. You can easily do this with a quick internet search.
The price that you see quoted is the price for pure gold. Not all gold jewelry is made of pure gold. Gold is a very soft metal and can easily get damaged.
It is often mixed with other metals, such as copper and silver. This reduces the purity of the gold, reducing its value.
Gold purity is measured in karats. Common karat ratings and their associated purities are:
- 24 karat 99.9% pure
- 12 karat 50% pure
- 6 karat 25% pure
If you have four ounces of 6 karat gold, you only have one ounce of real gold.
The other three ounces are other metals that are alloyed with the gold, so the price you can get for the gold will reflect how much of its weight is pure gold.
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Liberty Gold And Silver
Liberty Gold and Silver is a Portland, Oregon-based precious metals buyer. You can sell gold, silver, platinum, palladium and more all at the same time.
You can request a free quote and shipping label. Liberty Gold and Silver offers shipping insurance up to $1,000.
If youre selling more than $1,000 in metal, youll need to ship and insure the gold yourself, though the company will reimburse you for the cost once it receives your shipment.
You can obtain payment by check in the mail or a wire transfer to your bank account. There is a small fee for wire transfers.
How Much Is Gold Worth Per Ounce
This sounds like a simple question, but it does not come with a simple answer.
Three factors primarily drive the answer. They are:
1. When do you want to cash in your gold?
The price of gold is constantly changing. Market forces, supply and demand, and global economic conditions all influence the price of gold. That creates short and long-term trends in the price of gold. In times of turmoil, gold can bounce up and down quite a bit.
You can get a sense of how gold moves from several places. One of the best is the AMPEX website. For example, you can see that gold cratered on March 19, 2020, at $1,481.90 per ounce. But as of July 23, 2020, gold had trended upward to $1,877.60 per ounce.
If youve got 500 ounces of gold to sell, thats a $20,000 swing in your favor if you sell at the right time.
2. What form of gold do you have to sell?
If youve got scrap gold, thats one thing, but if you have gold coins that will bring a premium, or have numismatic value, thats quite another. You may also have an antique that could also fetch a big dollar amount and you may not even know it.
3. Where do you want to sell your gold?
The smart answer is where you can get the best price. However, youve got to know where that is so you can make the most of your selling opportunity.
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Are There Other Online Gold Buyers Worth Considering
Yes. There are certain niche buyers in the marketplace who may be a better fit for your gold selling needs.
Weve mentioned rare gold coins and antique jewelry. Some of those can be quite valuable, way above the melt price youd receive from a gold buyer only interested in weight and karats.
There are literally thousands of specialists who know the market for rare gold coins, antiques, heirloom and estate pieces. They have the connections and can offer you top dollar, or they can assist you in a competitive auction situation if warranted.
To truly know the value of what you are selling, its advisable to get an appraisal by a member of the American Society of Appraisers, the International Society of Appraisers or the National Association of Jewelry Appraisers.
Appraisals should be done on a flat fee and should range from $100 to $400, depending on how long the appraisal takes. Simple rings may take no more than an hour but larger pieces with elaborate settings and multiple gems could take three or four hours to appraise.
Appraisals, often conducted for insurance purposes, determine the retail replacement cost of your jewelry, not the resale price.
If youre getting an appraisal with the idea of reselling, then ask the appraiser if he or she can also give you a resale price estimate.
It’s Fast It’s Free It’s Easy Cash
Looking for cash fast? You have come to the right place! Sell Your Gold is the perfect outlet to sell your gold, jewelry, diamond, silver, coins and platinum items for cash. Select our expedited payment method, PayPal, and get paid in as quickly as 24 hours.
With over 50 years’ experience in the industry we will guarantee to give you the best price for your items. We will even match any online competitors price. Maybe you are looking for some extra cash to: pay off credit card debt, go on a shopping spree, or treat yourself to a get a way. Whatever your reason, there has never been a better time to sell gold, silver and platinum items for extra cash.
- Pay off credit card debt
- Go on a shopping spree
- Treat yourself to a get a way
Our customer’s satisfaction is 100% guaranteed. If you aren’t happy with your offer, your experience or change your mind after your payment is received, we will gladly return your items free of charge.
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What Percentage Does A Cash For Gold Pay
Each gold buyer offers you a different rate which they may or may not disclose to you. In larger markets where there is more competition including on the Internet! cash for gold buyers may take just 3% to 5% on top of the spot price of gold that day. It is typical for a gold exchange to earn 20% on each transaction, but of course that is before their expenses such as rent, taxes and payroll.
How Much Commission Do Gold Buyers Take
Gold buyers make an average of 20% commission, though the portion varies. Arm yourself with an understanding of the day’s gold price to best negotiate the sale of your gold.
Gold prices this year exceeded $2,000 for only the second time in 50 years. As of , the gold resale value in the United States was at a near-record price of $ per ounce, or $ per gram.
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Where Is The Best Place To Sell Gold
Well, this really depends on what it is youre selling. Gold coins, for example, may be worth more to a coin collector than they are to a company who melts down gold.
Similarly, an antique necklace may be worth more to an antiques or vintage jewelry dealer.
Thats why, as I said above, you should get quotes from a few places before parting with your gold.
You Can Easily Find Reviews Online
If you live in a smaller town it might be tough to find reviews for local jewelers or gold-buyers.
This isnt usually the case with online gold buyers.
Most sites who buy gold will have lots of reviews on social media and on websites like Trustpilot and the BBB.
This makes it easy for you to find legit places to sell gold.
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Other Ways To Sell Gold Or Gold Jewelry
I researched all these options before moving forward with CashforGoldUSA, and found it was the best choice:
While there are many reputable local businesses that can give you an honest gold resale price for your jewelry, coins, gold nuggets, bullion or other items, selling your gold online with a reputable business is usually the best way to sell gold.
Using an online gold buyer is advantageous because:
An online gold buyer will make an offer based on the weight and purity of the metal you send. This includes gold coins as well as jewelry: Youll be paid for the metal value rather than a coins face value.
Online gold buyers can offer high prices, since they dont have the expensive overhead of a retail store, and the competitive nature of the Internet means they are motivated to lower their fees.
Those we considered when deciding on the best included:
- Liberty Gold and Silver
- Goldco Precious Metals
- Gold Geek
Other Online Gold Buyers
Those we considered when deciding on the best gold buyer included:
- Liberty Gold and Silver
- Gold Geek
- Gold Guys
After an exhaustive review of these companies, here are all the reasons we ruled them out and why CashforGoldUSA is the best:
- Strong customer service focus, which is reflected in the BBB and TrustPilot ratings, as well as prompt communication through whichever communication the customer prefers: Text, phone, or email.
- Guaranteed highest price paid, backed up by third-party news investigations.
- Free shipping and insurance with a global brand.
- CashforGoldUSA is one of the oldest, most established and largest online gold buyers.
- 24 hour payment is unprecedented in the industry.
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Where To Sell Your Gold Nuggets And Flakes
One of the most common questions I get asked by new prospectors is “where am I supposed to sell my gold nuggets and flakes?” After all, it’s not like there are precious metal stores lining the banks of your favorite prospecting stream or river. The fact is that there are several different places and outlets that are eager to buy any gold you’ve prospecting. While some of them will pay you top dollar, others will only pay you a fraction of its true value. To ensure you get the most money possible for you prospected gold, you should familiarize yourself on some of the top merchants willing to buy your gold. Only then can you rest assured knowing that you’re getting the most money for all of those long days spent panning.
Because of the continually rising prices of gold, more and more companies have launched advertising campaigns offering to buy your gold for top dollar. They “claim” to offer you top dollar for your gold jewelry, bullion and nuggets. While some of these companies may give you a decent price for your gold, most of them simply aren’t worth your time. So the next time you pass one of those guys twirling a “we buy your gold” sign around on the corner of a busy intersection, keep going and don’t fall for their trap.