Sell your Gold Wisely: A Simple Guide

The earrings your great grandmother passed down to you would still be worth as much, or even more, despite all those years in between. Why? Because gold grows with time.

Some people buy gold as an investment while there are others who in exchange for some cash. If you belong to the latter, here is what you need to know first:

1. Shop Around

Before aiming to have a buyer from abroad, take your gold to a reputable jewellery shop and have it estimated. Shop around in your local neighbourhood and look for buyers who are willing to buy your gold for the price it deserves. Atkinsons Bullion, an online jewellery store, recommends shopping around for a legitimate buyer nearby first.

2. Know Y0ur Gold

That gold piece that was passed down to you by your family members, it is “just” a gold piece that you can easily sell? Or does it hold a historical value that can give you more for your money when you auction it out? It is important to know your gold very well before selling to make sure you get the right price. Expert gold sellers can help you in that area.

3. Credentials of Buyer

Your piece is important, which is why you cannot just sell it to anyone. Never sell your gold to people who set up booths inside the mall or at a hotel. Sell it to people who have permanent shops and have reputable credentials. As a safety precaution, do a background check on your buyer if you can.

4. Set a Realistic Price

Everyone wants to have a few hundred bucks extra in their hands. But this does not mean you would overprice your gold pieces. Doing so would make it harder for you to find a buyer. Always participate actively during the negotiation, but keep in mind that you have to be realistic. Use what you learned about your gold item to determine the right price for it.

Selling gold might be able to give you additional money whenever you need it, but do remember that it won’t make you rich overnight. Therefore, sell your gold wisely.