If you haven’t seen a great many advertisements lately about what to do with your unwanted gold, you must have avoided television, the internet, newspapers, the mail, and even just driving or walking around! Today, you can send your gold to a buyer through the mail, attend a gold-buying party, hit a pawn shop, or go to any one of the “We Buy Gold” stores that seem to have popped up in malls across America. The best alternative is to sell your gold to a trustworthy business that wants a relationship with you after your gold is liquidated.
How to Get the Most Out of Your Gold
The truth is, the reason so many options exist to sell your gold is because most of the business plans involved want to offer you the lowest possible amount and they count on you not knowing any better. It’s a shame, too, because gold is valuable. It’s so valuable that for more than a century in this country, it was the standard by which paper money was valued in the first place. The price per ounce of gold has shot up as well, so it’s never been worth more.
First things first, don’t handle the sale of your old jewelry through the mail or the internet. These places want to pay you pennies on the dollar. Although you can’t expect to receive the retail value of your gold, you should expect a reasonable amount, and you simply won’t get it without a face to face transaction. Also, don’t sell to the first place you see. Compare what different places offer, and make an educated choice.
The Truth to Keep in Mind
Don’t forget that the people buying your gold are essentially middle-men who are assuming the risk of the transaction. They give you money and hope that they make their margins between the time of the sale and the conversion of your unwanted gold into a saleable form for them. Thus, you’re going to get less than what you perceive to be the market value of your gold. This is why you need to choose a dealer who has a vested interest in your happiness. Jewelers who buy gold are likely to offer you the best price because they’re looking at you as a relationship that will result in many purchases over the years. Why not? If you have three sons, that’s three engagement rings, six wedding bands, and more!
Consider also your reasons for selling. In many cases, people sell older jewelry that is no longer in fashion as a prelude to replacing it with more modern pieces or just for jewelry in better shape. When your jeweler also buys gold, you’re in an excellent position to get a better value for your unwanted gold in cash or store credit.
If you have unwanted gold, you have something of value. Don’t take it lightly. You can get money and you can get it quickly, but remember to get the most that you can by considering your options and staying on top of this asset.