A Few Things to Consider When Selling Scrap Gold
Times are hard. Despite our country’s best efforts to recover from the readily apparent economic crisis, a large majority of the population is still struggling just to get by, and many have had to turn to alternative methods of acquiring money such as selling scrap gold in their times of dire need, whether it was to pay their heating bill or even to simply put food on the table.
However, since you’ve found this site, it’s obvious that you’re curious about selling scrap gold, but you want to make sure you do it right and get the best price for what you have in the process. No matter how desperate you are for some quick cash, no one likes to get ripped off. So, here’s some advice that may aid you in your scrap gold selling ventures.
How To Sell Scrap Gold
Don’t be fooled – selling scrap gold may seem as simple as walking down to the pawn shop, showing the dude there your shiny bling and walking out with a hand full of cash. Which, sure, if you don’t mind getting like 1% of what your gold is actually worth, then you can do that – but as I mentioned before, you’re here, so you obviously want to get something closer to what it’s actually worth.
- Calculate the worth of your gold
Calculating just how much the gold you have is worth is really just as simple as finding out the current price of gold per ounce, and multiplying that by how ever many ounces of gold you have. Doesn’t get much easier than that!
- Seek out the reputable scrap gold buyers
A “reputable scrap gold buyer” doesn’t mean the pawn shop guy, or even those smiling faces on the television who will tell you selling your gold is as simple as mailing it away to who-knows-where in a little plastic bag. Don’t fall for this! I mean seriously – you’re just going to trust these people you don’t even know, who are obviously out to make as much profit as possible, to simply give you the amount your gold is actually worth?
Please! They’ll lowball you to hell and back, because they know anyone who simple mails their gold away doesn’t really know what they’re doing, or how much their gold is worth. Fortunately, you’re not one of those people.
There are many reputable gold buyers that can be found both online as well as locally, with more and more popping up every day. Tell me you don’t see one of those sign-swinging advertisers standing out on the street corner for some new gold buying store every other week!
When looking for a gold buyer online, you can simply search for each company’s name in Google and see what other gold sellers experiences have been. This really makes selling gold online more than likely the best option, as it’s more difficult to get people’s opinions about your local gold merchants (although you could Google these guys also). Anytime someone gets scammed online, where’s the first place they run to tell people about it? The internet! However when it comes to brick and mortar businesses, this isn’t always the case, so the more shady places can get away with their shady practices for longer than an equally shady online one would.
However, if you’re not into the whole “selling online” scene, then simply hunt around your town for a good gold seller. If you’re really dead set on getting the maximum value for your scrap gold, then hit up each one and a quote from all of them, then simply go back to the one who gave you the biggest quote. Or, if you’re feeling really ballsy, go to one of the ones who gave you a lower quote, and tell them the other guy was willing to pay more – they just might “raise their bid” if they want your gold bad enough!
- Sell that gold!
You’ve done your research. You know what your gold is worth, you found a good buyer who’s willing to pay that amount (or very close), so what else is there left to do? Sell your scrap gold and get your money! That really wasn’t so difficult, was it? All it takes is a bit of research and effort to actually find a quality gold buyer, and you end up with double, triple, perhaps even quadruple of what you would have gotten from your everyday pawn shop. Time well spent, I’d say.
Should I Sell My Scrap Gold? I Heard Prices are Increasing…
Yes, you heard right. Gold prices fluctuate a lot, but in general have been on the rise over the past 10-15 years. This is what makes gold such a solid investment, and is why so many people are interested in buying your gold, be it scrap gold, gold coins, gold bars, or just plain gold jewelry!
What it really comes down to is do you need money right now, or would you rather hold onto your gold for when it’s worth more in the future? There’s nothing wrong with selling your gold for cash, and there’s nothing to be ashamed of. Some people think selling scrap gold is some sort of shameful practice, like they’re “cashing out” and they’ve hit rock bottom or something. That’s simply not the case. Some people like gold, some people like money – so which one of these people are you?