Where To Sell Gold Bullion, Coins And Jewellery

As the gold price soars to near historic highs reaching in excess of $1,000 per ounce, sellers have been faced by a onslaught of glaring electronic signs, flashy billboards and top level TV ads promising them that it is possible to make a killing through trading in their unwanted gold items especially jewelry. However what those ads are not saying takes the shine off the whole pitch by gold buyers. People are thinking that there is a huge, very easy and fast cash grab that awaits them while this is not necessarily the case. Gold dealers are operating in a self-regulated and controlled industry, which makes it essential for the gold sellers and buyers to fully comprehend how the transactions work.

The big question that needs answering is just how simple is it to dispose of and realize the true worth of your gold ingots, sovereigns, jewellery or unusual gold coins like the US Buffalo, the Austrian Philharmonic or the Chinese Panda? Below we look at a number of tips for those who are interested in knowing where to sell gold.

Get Your Gold Appraised First

Before you sell gold, get an appraisal done by an in independent valuer. Look for an appraiser who is licensed, if possible one who is already an accredited affiliate of a nationally or internationally recognized organization. The American Society of Appraisers would, for instance, be good place to have your gold appraised.

Know The Gold Buyer

If you are going to mail out your jewelry, first carry out research on the company’s reputation. Before dispatching, certify and then insure them for protection against theft or loss. In Australia, most jewellers are members of the Jewelers’ Association of Australia (JAA) and their website would a good place to start your research. You also could confirm if the company has ever received any customer complaints at your local Better Business Bureau website. It is also in the best of your interests when you only deal with businesses which have established reputations and actual storefronts.

Know The Gold Karat Content

It is important to appreciate that the quality of gold varies. The majority of gold jewelry is normally in the range of 14 to 18 karat, and rarely does it come as pure 24-karat gold. In most cases, the karat content is etched somewhere on your jewellery.

Do Shop Around

Before accepting a sale, obtain several offers from diverse gold dealers. The recommended business technique is to get at least three quotes before you decide as this is to your advantage. Patience is a virtue in any business sale transaction.

Be Vigilant With Gold Coins

When you plan on selling your gold coins, be wary of doing that by the gram. It is possible that they could be worth much more in the eyes of a gold coin collector.

Taken on the face value of it, ingots or bars may look like the better option in terms of value for money, since they usually are sold and bought in larger quantities. However, in an article with the heading, ‘Buy gold, they say – but how do you sell it?’ by Emma Simon published on The Telegraph in March 2013, she advises that in case you wish to just cash in a portion of your gold assets, this could be simpler and easier when you possess coins. For example, when you got 10 sovereigns, you could opt to sell just one.

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