If one needs money and has a lot of old and unworn gold jewelry, selling gold may be a good option. The price of gold continues to change from time to time, and sometimes, one might be offered lower prices than what the pieces are actually valued at. Despite this, selling gold can be a profitable way to make some money on the side.
Before going out to sell gold, it is important to check several sources to see what the market value of gold currently is. Although that might not be the final price offered, it will provide an idea of what the pieces may be worth.
While most people may first think of selling their valuable items to a pawn shop, it is actually recommended to avoid pawn shops. This is because they will most likely buy the gold at the cheapest price possible. There are also many companies that offer to buy gold through the mail, but these should also be avoided, as there is little control over the whole process. Therefore, it is best to find local gold buyers so one can meet up and make it easier to negotiate and exchange. It is also advised to shop around. For example, if someone lives in Chicago and wants to sell their pieces, doing a quick search on Gold Buyers Chicago can give a list of reputable sellers. Companies such as the Chicago Gold Buyer’s Group and Royal Jewelers offer market values of gold and will purchase anything from earrings, to watches and coins, to scraps.
Once the dealer sees the gold, they will take a look at it and weigh it, and may test the quality of the pieces. They will then provide a quotation. It is important to search around for several quotes before settling for the best one. Obviously, the best option is to look for which buyer offered the most money; they should also be paying in cash, or with a bank certified check or money order. Another tip to ensure that the best price is being offered is to have the jewelry appraised and cleaned; it may be worth more in the end.
