How Can You Sell Gold? - Insane Visions

How Can You Sell Gold?

You have accumulated so much gold, and now want to sell it. But, how do you go about, and how do you ensure that you get the maximum worth? Should you sell it online or at a retail store? Sounds tough? Not really if you go about it the right way. Act on our advice, and you should get the best price for your gold coins without becoming a victim to foul play.

So, here is the process of selling gold.

Shop around

Yes, you can sell your gold anywhere, but we suggest that you start it a local store. Go to a reputable jeweller or a pawn shop, and show them your gold coins and bars. Ask them to provide you an estimate of the total value. Get quotes from two to three shops, and use them for comparison. Treat the estimated price as the base price, and then select the offer which gives you the greatest margins.

And by the way, you shouldn’t be paying any money to get estimates. They are all free

Beware of the phony buyers

Gold phony buyers have become too common these days. They strike different towns, run ads that claim promising offers, set up temporary shops, pay you some money for your collection, and then disappear as suddenly as they arrive. These buyers either don’t pay the full amount or force you to sell your gold at a lower value than what’s it worth, and then run away with your valuable pieces.

So, before selling your gold, ensure that the buyer is credible and would pay you full amount, the complete worth of your gold.

Take notice of the scales

Do you know the exact weight of your gold coins, bars and jewellery? You should, because many a times, buyers use incorrect scales when weighing your products. This isn’t always, but we have seen it often.

Also ascertain what the pay units and weighing units are saying. Some buyers use pennyweight to measure gold; one pennyweight equals 1.56 grams. Now the money is determined using grams, so they pay you less than the weight of your gold. Ensure that both systems are the same.

Read between the lines

Online gold selling websites are becoming common, but read the fine print when conducting deals. Go through the terms and conditions, before taking any step. So, for instance, a company offers free shipping on your gold pieces. You think it’s good, right? But then, they compensate for the money by charging higher rates if you decline their offer, and want your gold to be returned.

You should also go through the buyer’s policy, and ensure that you are reimbursed if your gold is lost.

Find out if the gold would be scraped

Surprisingly, scrap gold can be worthier than the current form at times. And if that is the case, you need to ensure that you get a good price. So, find out what would happen to your gold before you sell it away.

Beatrice Santos

Beatrice Santos

Beatrice Santos is taking up units in business law and currently affiliated as an intern in a local law firm. She is passionate in helping those who have any queries regarding business laws and how these may affect their respective businesses.
Beatrice Santos

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