If you’re one of the many people looking to sell your gold, whether its old gold jewelry, gold coins, scrap gold, gold bullion, or anything else, they all have a common question which is where to sell that gold? Well if you’re one of those people you’ve come to the right place. In the following article we will show you the best places where you can sell your gold without getting ripped off.
The first thing to consider when looking for gold buying companies is to think about what exactly it is that you are going to be selling. If you’re selling gold jewelry then you’re going to go to a different place then say someone selling gold collectible coins. I will split them up into two types: scrap gold and gold that has more value then just the gold content in the item.
Where To Sell Scrap Gold
Scrap gold is any gold that doesn’t have much retail value but does contain some gold. That gold content is what gold refiners and scrap gold dealers are willing to pay you for. Plain gold wedding rings, heavy gold chains, any out of style gold jewelry, dental gold or teeth fillings, gold bullion coins – are all examples of scrap gold that you can sell to these refiners and/or dealers. The thing to remember when selling to gold refiners is that they are only going to pay you based on the content of the gold in your piece. So if you do happen to have a collectible or antique items you’re usually much better off selling to one of the other options I’m going to mention in the next section.
To get a good deal for your gold you should find a local jeweler or pawnshop owner who will give you an appraisal of your gold so you know how much it is worth. You can also use our gold value calculator if you know the karats of your gold or you have a gold testing kit. Next you need to find a gold buyer (a refiner if possible) and see how much they are willing to pay you based on the gold content of your piece. If it’s under 80% look elsewhere. It is possible to find a gold refiner willing to pay up to 96% depending on how much you have to sell but they are rare and far between.
If you think you’re just going to sell to one of the online gold refiners that have popped up everywhere lately, take time to consider the fact that you’re mailing gold which is just like sending someone cash in the mail. You need to make sure that it is insured, either by you or the company that you are mailing to. Also you have to take into consideration that some of these companies are not looking out for your best interests and are only looking to make as much profit as they can. We have have had reports from readers that you might only get a check for 33% of the gold value – which is just terrible. Also as we’ve found out, a few of these companies have extremely poor customer service. And if you do manage to contact them about the low offer they may tell you that it is too late and your gold has already been smelted down. So if you do want to go this route check out the company thoroughly before sending out your gold or may just end up getting ripped off. A good place to start is our cash for gold company reviews.
Where To Sell Gold Coins or Well Crafted Antique Jewelry
If you happen to have a valuable gold coin collection or antique piece of jewelry you probably won’t want to sell to a gold refiner or scrap gold dealer. Your piece or collection is going to be worth a lot more than the gold content of the item and that is all gold refiners will pay you for. Most don’t consider the collectible nature or retail value that your collection or piece of jewelry might have. One exception is Sell Your Gold who will look at the retail value of your piece before making you an offer.
For gold coins, you should try to sell them to another collector first before you try anything else. A collector may be willing to pay almost the full value of the collection since the value only tends to increase over time and they can make a profit off it later. Using your local paper or your network of friends can help you locate a willing buyer. If you can’t find one that way you can think about online auctions such as eBay or other online sites like Craigslist. Finally if you have no other options, you can always sell to a pawnshop but you are not likely to get anywhere near the actual value of your collection.
Now if you have an antique or well crafted valuable piece of jewelry, you are going to want to sell to a jeweler or jewelry store. They will give you retail value minus their cut of the profit. Make sure you get your piece appraised at multiple places before you do actually sell though. Our guide on how to find your gold’s value can help you get a ballpark figure on the gold value of your item so you have a reference point to compare. Many places may not be completely honest with how much it is worth. If you can’t find a willing jewelry store you can try one of the online sites listed above.
So if you were looking for where to sell gold jewelry, gold coins, scrap gold, or even dental gold you should now have a better idea of who and where to sell to. If not you can always leave a comment or email and we’ll get back to you as soon as we can.