If you have old gold items like jewelry and coins that do nothing but collect dust, now is the best time to sell it and earn some extra cash in exchange. The market value for gold is still at an all-time high, meaning you could possibly make hundreds when you know how to sell gold jewelry or sell gold coins.
However, with the recent boom in the gold market comes a variety of concerns you should be aware of while you figure out how to sell gold. Once you learn how to sell your gold, the process becomes and easy and fun way to earn some extra money.
Here are four great ways you can learn how to sell gold like an expert:
1. Spend time looking for the best place to sell gold: There’s nothing wrong with taking your time when you’re shopping your gold around to potential buyers. Each buyer will offer you a different amount for your gold based on their estimate of its melt value, or how much the gold is worth once it’s melted down into a solid gold bar. Spending time comparing buyers’ price estimates is a key component of knowing how to sell gold.
2. Know your gold’s karat value: Because pure gold is too malleable to have a practical use, it’s often mixed with other metals, like copper or silver, to create a gold alloy. A gold item’s karat value is essentially a measure of its purity — 24-karat gold is pure gold, while 18-karat gold is 18 parts gold and 6 parts of another metal. To get the most from your scrap gold, make sure you know the karat values of each individual piece. Some buyers will try to take advantage of people who don’t know how to sell gold by grouping all the gold together to avoid giving the seller extra money for higher-karat pieces.
3. Avoid attending gold parties: People who don’t know how to sell gold might think that attending a gold-selling party is a good way to earn money for their gold. However, the buyers at gold-selling parties will often only pay you about 70 to 80 percent of your gold’s melt value, meaning you could be making a lot more by selling to someone else.
4. Stay up-to-date with the market: People who know how to sell gold also know that it’s important to stay updated with the fluctuating market values of gold. Knowing how to sell gold is also knowing the best time to sell it to maximize your profit! Research more like this: www.cashngold.com
