The options available for selling gold

You’ve probably heard over and over again that the price of gold is at an incredible high. For consumers who bought gold earlier on when its price was still low, the increase in the spot price means they will be able to sell their gold for a significantly higher price. Because of this, there is a growing number of gold jewellery buyers offering to buy your jewellery for a significant sum of money. 

When you have gold jewellery to sell, the last thing you want to do is to sell to a buyer who has an interest in a wide range of things other than gold like a pawn shop. Pawnshops are great when you want a small loan and you have something valuable to use as collateral like gold, however, they don’t pay out as much as gold jewellery buyers do. Most people who go to pawn shops do so out of desperation. They need cash now. This means that they sometimes don’t take the time to find out what their valuables are worth. They need the cash and a pawnshop will provide the loan without conducting a credit check. 

If you have gold jewellery to sell, a jewellery store seems like a good option. The problem is that there aren’t a lot of jewellery stores that buy used gold. Jewellers could buy your gold jewellery to melt and turn it into new pieces. That could save them from spending a lot more money on their raw materials. The thing is, jewellers already buy their gold at wholesale prices. It is already refined and ready to be turned into any kind of jewellery. That is why a lot of jewellers are reluctant to buy scrap gold. Jewellers are good for basic appraisals. They can give you an accurate estimate of what your gold jewellery is worth. 

The internet has opened up a new route for gold sellers and buyers. A lot of goldjewellery buyers operate their businesses in brick-and-mortar stores as well as online. The reason for this is that the internet offers a huge marketplace and because there are so many online companies the competition is fierce. This means you have more buyers vying for your attention and trying to get you to sell your gold to them. This means you have more people trying to outdo each other price-wise. 

How do you go about selling your gold online? You go to a gold buyer’s website, you give out the details of what you have to sell. You ask for a mailing kit. This will be mailed to you. You can then put your gold in the kit and mail it back. When the buyer receives your gold he then gives you a quote. If you agree with the quote, the cash will be paid out to you either via credit card, wire transfer, or any other payment method the buyer uses. If you don’t like the quote, you can refuse to sell the gold to that buyer. They then will send your gold back at no extra charge. It is a hassle-free method of selling gold jewellery but it can take up to 48 hours to get cash. It might not be the best way to go about selling your gold jewellery if you want cash quickly. 

Selling gold jewellery can be challenging and time-consuming especially if you have to go from one gold dealer to another to find a good price but your gold is valuable and you should not be forced to settle for less. Be prepared to haggle a little bit. Most gold jewellery buyers expect you to.