Tuesday, July 9, 2024

Where Do They Sell Gold

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Use A Cash For Gold Calculator

Buy and Sell Gold and Silver – How It Works and Expert Tips

Its always a good idea to use a cash for gold calculator to see what your gold is worth.

They have software that was created by the National Gold Market. You can get real time prices for gold, silver and platinum.

Just select the karat of your gold and weight. Itll tell you to the penny what your gold is worth.

Pro Tip:

This is a good tool to use when youre getting your quotes. If a buyer is undercutting you, move on.

Make Sure Your Jewelry Is Clean And Polished

Just like anything else you sell, before you sell old jewelry, make it look nice. Clean it and make sure its polished.

Even if you think itll be used for scrap, still make it presentable. You want to look professional when you walk into jewelry stores with your gold.

So, now that you know everything there is to know about how to sell gold for cash, let us know what you think. Have you ever sold a valuable piece of gold online? Do you have any tips for our readers?

Pawn Shops Near You That Buy Gold

Many pawn shops purchase gold jewelry, coins and bullion. Selling locally to a pawn shop is an easy way to sell your gold for cash quickly. However, youll almost always get a lower price than you would by selling to a reputable online gold buyer.

As weve explained in more detail in our guide to selling gold jewelry to a pawn shop, pawn shops usually offer significantly lower prices for jewelry than online buyers. In every secret shopping we tried, Abe Mor offered at least 10% more than the local pawn shop. Often much more.

The reason for this is that pawn shops make the majority of their revenue by loaning money to their customers. In order to get a good return on investment by buying gold, the pawn shop will need to buy it for a low enough price to be able to sell it with a reasonable profit margin.

There are also several other disadvantages to selling at a pawn shop, from employees that may not know much about gold to the occasional high-pressure sales process. Weve listed these a little further down the page.

Advantages of selling gold to a pawn shop include:

  • Instant payment. When you sell gold jewelry, coins or other gold items at a pawn shop, youll usually be paid right away. This can be a huge advantage if you need to get cash right now and cant afford to wait for several days.

Disadvantages of selling gold to a pawn shop include:

Bottom Line Recommendation:

Also Check: Where To Buy 24 Karat Gold

If Youre Selling At A Pawn Shop

As we mentioned above, we generally dont recommend selling gold jewelry or other gold items to a pawn shop, as the prices pawn shops offer are almost always lower than those offered by specialist online gold buyers.

If you do decide to sell your gold to a pawn shop, we recommend using the following tips to get the best deal:

  • If possible, visit several pawn shops before you decide where to sell. Pawn shops can vary hugely in how much theyll offer for certain goods, including gold. Try to visit at least two to three pawn shops to get several quotes before you decide to sell.
  • Before you sell, check the current spot price for gold. While youll never get the true spot price from a pawn shop, knowing how much a gram or ounce of pure gold is worth before you sell will help you avoid obvious rip-offs and low-ball offers.
  • Negotiate and be prepared to walk away. If you get offered a price that you think is too low, dont feel afraid to ask for a higher price. If the pawn shop isnt willing to offer a price that feels fair to you, be prepared to walk away.
  • Bring receipts, boxes and other extra items. If youre selling gold jewelry, such as a wedding band, youll usually get a better price if you sell it with original receipts, boxes, bags and other extras. These can make it easier for the pawn shop to resell the item.

How To Sell Gold Jewelry

Fake gold sovereigns and spotting the counterfeits

Gold jewelry that is by a significant brand like Tiffany or Cartier may be sold to a jeweler at a premium because of its name. Most jewelry, however, is likely to be melted down for scrap based on its weight and carat. Options for selling gold jewelry include:

  • Local jeweler
  • Online jewelry and gold buyers

Also Check: What’s The Value Of An Ounce Of Gold

How Much Will Us Gold Bureau Pay Me For My Precious Metals

Since bullion is a commodity, our purchase price is related to the current spot price of the metal, as determined by the Commodities Exchange . We generally buy at or near the current spot price, depending on the exact item and market demand. The exact payout price for your items will be clearly listed with each product, no matter which method is used to locate them. Please keep in mind, payout prices will fluctuate in line with current Market rates until your payout is locked. For a complete list of the items we buy with their adjusted price index, visit our Payouts Catalog.

Im Ready To Sell My Items Where Do I Go From Here

You can jump directly into our Payouts Catalog which provides easy-to-use filtering to help you find your specific items, as well as a comprehensive listing of all the other precious metals we buy. All products are listed with up to the minute pricing so you can see exactly what the payout will be for each listed bar or coin. You can also use the ‘Sell to Us’ area while navigating through the variety of products within our store.

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Examples Of Gold Jewelry Values

The best way to understand how much you are likely to receive for your gold is to look at what has been paid out in the past. Were going to use prices from Express Gold Cash as they are the most transparent about their pricing and offer very fair prices.

14k gold jewelry examples:

Weight: 18.8dwtPrice paid: $670.42

There are more examples over at the Express Gold Cash website, but these should give you an idea of the type of value that can be attained from gold jewelry.

Can I Sell Gold Jewelry

10,000 Herbs OVER 70,000 Golds worth, But do they sell?

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.

Recommended Reading: How Many Grams Per Ounce Of Gold

The Hidden Risk Of Coin Ownership

Many people buy gold coins as a form of ultimate protection from a future crisis.

  • Some believe the next crisis will come in the form of a breakdown of social order. This sort of crisis is rare. Were it to happen gold owners would quickly learn the huge risks of using it as money. When the social order breaks down almost nobody pays with gold because they are sensibly frightened to be identified as a gold owner. The gold is unusable while at its most valuable.
  • A breakdown of social order is uncommon, but would always be accompanied by a serious financial crisis. Crises in finance also happen independently of social breakdown, and with much higher frequency, making them a much more common style of problem we are likely to face. Most of us will experience local financial crisis in our lifetimes usually more than once.

    When these cause a run on a rapidly depreciating currency governments tend to initiate capital controls, which are programs for preventing the flight of usable capital from their country.

    It may well be possible to sell gold owned domestically during such a crisis. However formal channels under capital control environments will offer an official government-set price in local currency, which will be far below the true world-market price. Meanwhile informal channels extract the deep discounts of dealing in illegal contraband, and much of the value will be lost to middlemen.

Selling Gold Coins Vs Selling Other Types Of Gold

The process for selling gold coins is quite different from that for selling gold jewelry, such as a gold wedding band or engagement ring.

As weve covered in our guide to selling gold jewelry, there are many merchants that buy gold jewelry. For example, if you have a gold wedding band that youd like to sell, youll usually be able to sell it online or offline to a local jewelry store or pawn shop.

Gold coins, on the other hand, are more of a niche item. To be more precise, gold coins are a type of gold bullion . As such, theyre usually treated as an investment or store of value, rather than as a consumer gold item.

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Sell Your Gold For Instant Cash At Muthoot Gold Point

Muthoot Gold Point offers safe, transparent & scientifically tested ways of buying your Gold.

We give you an unparalleled experience of selling your old Gold for instant cash. Our 11 state of the art branches across India and mobile van are equipped with the latest ultrasonic and XRF machines to clean your Gold for free and check its accurate weight & purity. Not just the process is transparent, rates at which we buy your Gold are as per the market rates.

Can You Sell Gold That You Find How Do I Sell Raw Gold

Does investing in gold have a future?

You can typically sell your raw gold the same way that you would sell refined gold products like jewelry, coins, or bullion though keep in mind that gold found through prospecting, or other raw gold does not fetch the same high price as government-backed gold products. Pawn shops, gold exchanges, and online gold buyers all purchase raw gold, though certain establishments may have their own policies.

Our recommendation? CashforGoldUSA. The company pays fast and consistently pays top dollar for gold. Plus, they will help you determine the exact composition of your raw gold so that you can feel confident that you are getting a fair price.

Read Also: How Much Is The Price Of Gold Per Gram

When Should You Buy Gold

Many proponents of gold suggest it is a good hedge against rising prices. The facts do not support this statement though. Gold is often a better hedge against a financial crisis, rather than a hedge against inflation. In times of crisis, gold prices tend to rise. But that is not necessarily the case during periods of high inflation. If there’s a financial crisis or recession on the horizon, it may be wise to buy gold. However, if the economy is in a period of high inflation, it may be wise to pass.

When investing for retirement, you need an investment that either generates current income or is reasonably expected to appreciate in value so you can sell it in the future and use it for consumption purposes. Gold is not an investment that you can rely on for either of these purposes. Also, keep in mind that if you have gold in a retirement account like an IRA, there may be penalties for early withdrawal if you decide to sell that gold and cash out.

Best Online Gold Buyer: Cash For Gold Usa

In a highly competitive online gold buying world, Cash for Gold USA is the best online broker for several reasons:

You get paid fast. Within 24 hours after an appraisal and accepting the offer sent to you, Cash for Gold USA will send you a check, or pay you by bank wire or PayPal.

Not only can you request shipping free of charge for your gold items, but they are also insured every step of the way via USPS or FedEx. Standard coverage is $5,000 for FedEx, but additional insurance is available for items valued at up to $100,000.

Cash for Gold USA is established and highly reputable. In fact, their parent company has an A+ rating from the Better Business Bureau. The site has served more than 250,000 customers and paid out more than $53 million since 2005.

Your transaction is risk-free, meaning you can back out at any time if you dont like the price youre offered. If you make that decision after you ship your gold, your gold items will be sent back to you at no charge.

The site will buy kinds of gold, silver and platinum items, including broken jewelry and dental scrap. The material is based on weight and purity, not the condition. In addition, the site also buys diamonds and silver.

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In 3 Quick Steps Sell Your Gold From Home With Peace Of Mind

With over 50 years’ experience, our team of expert appraisers will carefully examine and test your gold, jewelry, diamond, silver and platinum using our cutting-edge technology to determine its value. Your item will also be evaluated on the following:

  • The current day’s gold price
  • If your item contains precious metal
  • The weight of the precious metal
  • The purity of the precious metal
  • Any specific item characteristics
  • How much precious metal you send us

The combination of these specifications will help us calculate your offer. Accept your offer using our express payment option to get paid in less than 24 hours. If you are not happy with your offer, we will gladly return your items free of charge, no questions asked. Our customer’s satisfaction is 100% guaranteed.

Selling Yellow Gold Vs Rose Gold Vs White Gold

Selling Silver at Local Coin Shops!

Much modern jewelry is white gold, and in the last 10 years rose gold has also become increasingly popular:

White gold and rose gold both also use the karat system to show how much pure gold they contain.

The difference between each of the three colors of gold is the other metals used to make up the rest of the alloy. The different blends of metals give each type of golds its distinctive color.

Typical compositions of 14 karat yellow gold, white gold and rose gold are:

14 karat yellow gold composition:

  • 58.5% gold

14 karat rose gold composition:

  • 58.5% gold
  • 30% copper
  • 21.5% silver

The important thing to look at is that each of the three types of gold have the exact same amount of pure gold in them 58.5%.

If you are looking to sell white gold or rose gold jewelry it can still be melted down and refined, and is just as valuable as yellow gold

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Use These Seven Nuggets Of Advice To Ensure You Get The Best Deal When Selling Gold Jewellery

Selling unwanted gold can be a quick way to earn some extra cash, but getting the best deal isnt always easy.

There are plenty of specialist cash-for-gold companies to choose from, but these may not offer you the best price.

Selling gold to a high street jeweller or through an online trading website such as eBay may take more time, but its likely youll be offered more money.

Take a look at these tips to ensure you get the best deal when selling gold jewellery.

Find out more: 50 ways to make money our comprehensive money-making guide

Ways Gold Dealers Rip You Off

The holidays are around the corner and for some families gathering together, the conversation will turn to the state of the economy and what to do with ones investments. Eventually, because of the heavy advertising on television and radio by gold dealers, the conversation may turn to acquiring gold for ones portfolio. After all, if you listen to Glenn Beck, then you are probably very worried about the state of the economy.

While there is good reason to be worried about the state of the economy, there is even greater reason to be worried about who you buy your gold from and what kind of gold you should buy. The same is true for silver.

Much of this information is found in my book, Buy Gold and Silver Safely. In this book I go into further detail as to what lengths gold dealers will go to in trying to separate your hard earned money from you and putting you into inferior gold and silver investments.

Gold Dealers Know How to Talk the Talk

The Purpose of Writing This Article

The 4 Ways Gold Dealers Rip You Off

Gold Dealer Rip Off #1 Threats of Confiscation

From the NGC site:

Also Check: How To Buy Gold For Investment

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