Selling Your Gold for Scrap Value
For a lot of people there comes a time in their lives when they are short of money, for whatever reason. If you find yourself in a situation like this and you have old Gold, or broken jewellery lying around, then you can easily sell this and make yourself some quick money. There are many different ways of selling your unwanted gold jewellery, with some being better than others, as well as also being more profitable. The first thing that you will need to do is learn about selling Gold scrap, to make sure that you get a fair price for the Gold that you are looking to sell.
The Value of Your Gold
When you are looking to sell Gold to a company that buys old Gold, you are only going to get what is called the scrap value, for the Gold that you sell. This price changes daily with the price of Gold on the commodities market. So before taking your Gold anywhere in an attempt to sell it, you will need to educate yourself on the price of Gold and how the market works. This information is vital in order to make sure that you get the best possible deal for your scrap Gold. There are many places that you can sell your Gold and the best one for you is going to be determined on how quickly you need money, and how much you are prepared to let it go for.
Pawn Shops and Jewellers
When you visit a Jewellers or a Pawn Shop to sell your Gold, you will usually be able to get a fair price for what you are looking to sell. As long as you agree to the price offered, you can also get your hands on the money very quickly. You will find slight differences between what is offered, so it is always worth your while in speaking to as many shops as possible and seeing which one offers you the best quote. As previously mentioned, visiting these shops armed with some knowledge which includes the current price of Gold, is a good way to ensure that you get the fairest price possible. A little knowledge can go a long way and also show the proprietor that he will not be able to get away with giving you an unfair price for your gold.
Mail Order Gold Buyers
You may see many adverts on TV and in print media that states they will buy all of your scrap Gold from you. You tend to find that these types of companies give you very low prices for your Gold, often at much less than the market value. With these types of company you send your Gold to the in the Post, so it is not even a quick method of turning your scrap gold into Cash. The truth is that these types of business are best avoided at all costs, as they are out to make a lot of money at their customer’s expense.
If you have some old jewellery that you are looking to sell and want the best possible price for it that you can get, then private sale can often be the best idea, although not always the quickest.
- Classifieds in Print Media
- Online Classifieds
- Auction Websites such as ebay
- Social Media
If you have a good piece of jewellery then people may be willing to pay a little more for an item of jewellery that they like, which means you may get better than scrap value for it. Of course, you are unlikely to be able to sell scrap Gold such as Dentures and Gold Teeth using this method. With a bit of looking around and also a little knowledge, you are going to be able to sell your scrap gold at the best possible price, and get yourself some quick money.