How to Sell Gold and Silver

If you want to sell your gold or silver, you won’t have a hard time finding a buyer. Kiosks in malls, jewelry stores, online dealers, and pawn shops are all willing to take precious metals from sellers. How do you know that you’re getting what you deserve for what you’re selling, though? Read on for tips about selling gold and silver when you’re a novice.

Get an Appraisal

Before you bring your gold to a buyer, you should know how much it’s worth. Bring your metal to an appraiser (or two) first. Not only will they be able to tell you how much the gold is worth, but they’ll also advise you about whether you should sell the jewelry as is or if you should have it melted down first. It’s also a good idea to stay on top of the price of gold yourself – find recent prices online. Knowing the current price of gold will give you a solid basis when getting appraisals and offers.

Comparison Shop

Even though so much of buying gold is based on weight, you could still get a better offer if you shop around a bit. The price of gold will vary from place to place and you can bargain a bit if you have high offers from a few buyers. Dealers won’t pay 100% the worth of the gold, but some will pay 50% while others will pay 60% or 70%.

Make Sure the Buyer is Legit

Every business that buys gold should have a license from the state where they operate. It’s also a good idea to work with a buyer who’s been in the business for a few years. Plus, their business should be mainly buying gold and other metals; if they run a laundromat that has a gold buying business part-time, that’s not the right buyer for you. Lastly, check out the business with the Better business Bureau to see if they’ve received any complaints.

Ready to get rid of some of your gold and bulk up your savings account a bit? You probably won’t get rich off of your old jewelry, but you could get a good deal if you do your research. Learn more about selling your jewelry so that you can make the best decision possible.