6 Tips For Selling Your Gold For Cash

In the bad economy that we seem to be stuck in, selling your gold jewelry can prove to be a decent boost in the finances. You may not realize there are several ways you can sell gold necklaces, earrings, rings and chains. The first step would be to gather the gold you are looking to part with and have it nearby for reference. Personally, I like to keep a record of my belongings so that I both know what I have and so I know the gold buyer is giving me a fair price.

Find a Reputable Gold Buyer

The internet is always a good place to start in gathering information on different buy and sell gold shops in the area you live or are willing to travel to. After making a list of the locations, you can then call them directly or talk with friend or family for possible advice. Once you’ve narrowed down the shops you will visit, take you gold with you and speak with an employee at each shop when you obtain your appraisal.

Double-Check to Get the Best Price

Once you have a few appraisals as a starting point, you can return to the internet for more research in finding the best price you can for the gold you are selling. There are many websites where you can search the gold pieces you have and find out what they are currently selling for. Since the price of gold can change frequently, it is a good idea to keep an eye out on the value listed and sell when it’s at the best profit.

Gold Shops Are Just One Option

While searching on the internet you can also visit auction and classifieds sites to find information on similar pieces and what they are selling for. An auction site could take some extra time and effort but you can pick a starting price and see where it goes. If it is a sought after piece, even only by a couple people, you could turn a very nice profit. Other classified sites give you the option of keeping your gold if you are not happy with the offer like on an auction site, but you run the risk of people not wanting to pay a high price for something in an ad.

Ask Around

By letting your friends, family and coworkers know you have some gold pieces you are looking to sell; they could help by passing the information along and possibly do the work for you where you will gain the money. You might even consider giving gold as a gift to a close friend or family member for a special occasion.

Go with Your Gut

Sometimes, even if you aren’t knowledgeable in the worth of your gold, your instincts can help in knowing the difference between a good and a bad shop. After looking over your offers, you should be able to tell a trend and if you are being taken for a ride by someone. In the end, you know what you paid for your gold and you know what it is worth to you in a personal way.

About The Author

Edwin is a marketer, social media influencer and head writer here at Frugal Wiz. He manages a large network of high quality finance blogs and social media accounts. You can connect with him via email here.

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