Trusted Gold Buyers

Selling Your Old Gold is a Great Idea

Selling Your Old Gold is a Great Idea

Open a newspaper or turn on the TV and you will see plenty of ads from company begging you to sell your old gold jewelry.  Why are so many people asking you to sell your old jewelry and gold items?

For the answer you have to understand what is driving the price of gold.
Simply, it’s the economy stupid!

When the economy is tanking the smart money invests in gold.  More buyers than sellers means the demand for gold increases and this drives the price skyward.  Gold has now reached record breaking heights and has gone through the $1,200 an ounce ceiling which is an all-time high.  Governments and big institutional investors pulled out of the stocks and bonds markets and poured their money into gold bullion – India alone bought over $300 billion last year!

This may seem like good news for you if you have gold items such as jewelry; the idea may be forming that you should hold onto these because the price is going to only carry on going up!

Right?
Wrong!

The economy is beginning to shape up and the financial markets are now returning good gains to investors.  Have you noticed how the price of stocks and shares has been increasing recently?

That is good news for the economy but bad news for the price of gold which has now started to slide.

Remember: everything that goes up must come down.

As investors pile money into the stock market they have to get it from somewhere.  That somewhere is from selling all the gold they have been buying during the last two years.  The slide in the price of gold recently has been the result of the positive economic news, and as more good news on the recovery comes through the price of gold will continue to fall.

One thing to note is that gold prices are notoriously volatile – they change rapidly, up and down.  As quickly as the price of gold has shot up it can come tumbling down.  So what does all of this mean in practical terms for people who have old gold items they want to sell?

The main point is this – gold is at its peak and the time to sell is NOW!
Selling your old gold items is easy; simply look up a company online, but there are some tips for getting the best price.  First, choose a refiner rather than a dealer or jeweler – refiners are the ones who will melt the old gold down and refine it to the requisite purity levels for selling on as new gold.  As a result they will be prepared to offer you the best price because there is no middleman involved.

Another tip is to make sure you know what you are selling: any diamonds or other precious stones should be removed from your items as the refiner will be interested in paying for the metal and not the stones.  You can always sell the stones on to a jeweler or another dealer and this will maximize your profit.

Ideas For Selling Your Scrap Gold And Gold Jewelry

Ideas For Selling Your Scrap Gold And Gold Jewelry

The London fix for gold has recently crossed the threshold of $1,400 per ounce. The price of the precious metal is hovering near its highest level in history. There are many reasons, including uncertainty about the economy, an inflated money supply, and pure speculation. A lot of gold experts have suggested the price of the precious metal is due for a tumble. When it will occur remains a mystery.

Many people who own old gold jewelry and pieces of scrap gold are selling both in order to lock in the current high price. Their decision may end up appearing prophetic. Below, we’ll list several ideas for selling your items, including one (toward the end) that is almost guaranteed to bring you the best price.

Online Auctions

Online auctions are simple to create, and relatively easy to manage. The advantage of using them is that you can attract competing bids, which may result in a higher price for your pieces. The downside is that it may take weeks to sell everything. Moreover, most auction sites charge fees.

Online Boards

Sites such as CraigsList allow you to list nearly any item you want to sell, including jewelry and scrap gold. People from every part of the country can view the pieces (if you include photos), and contact you to buy them. Depending on the level of exposure you want, there are usually fees involved. Also, as with online auctions, selling your pieces may take a significant amount of time.

Garage/Estate Sales

If you want to avoid listing your gold jewelry online, you can sell your individual items at a garage sale. It takes patience since few people who visit your garage sale will be looking for jewelry. That said, if you have no urgency for the funds, this is an easy way to sell your pieces.

Private Collectors

If you own a particularly valuable piece of gold (e.g. family heirloom, rare coin, etc.), a private collector may be willing to pay handsomely for it. In most cases, the item must be in mint condition, or nearly so. The advantage of selling your pieces to a collector is that he or she will pay more than any other buyer. The drawback is that collectors are usually interested in buying individual items rather than entire collections.

Pawn Shops And Jewelers

While this is a simple strategy for selling your gold jewelry quickly, it is also the least financially savvy. Pawn brokers and jewelers are willing buyers as long as you accept their price. The problem is that the price they’ll offer will be very low, far lower than the price you can attract elsewhere.

If you are in desperate need of funds, selling your gold jewelry to a pawn broker or jeweler can be a reasonable option. Otherwise, you will be better off selling your pieces online.

Gold Parties

Gold parties have been around for many years. They are designed to bring friends and acquaintances together in a relaxed environment. All invitees are encouraged to bring any gold items they would like to sell. A buyer is present who will weigh and appraise each piece before making an offer to the owner.

While gold parties can be fun, you are unlikely to receive a competitive offer for your items. In most cases, the buyer is a broker who will sell your gold pieces to another buyer for profit. The buyer is a middleman.

Online Gold Refiners

For most people, selling their gold jewelry and scrap gold to an online refiner presents the best option. The reason is due to the refiner’s business. They operate near the top of the chain to recycle the precious metal back to the retail market. There are no middlemen to shave a portion of the profit for themselves. Because of this, you’ll attract a higher price than would otherwise be possible with a broker.

Even though there are several potential buyers to whom you can sell your gold, most will be unable to match the price of an online refiner. Selling your pieces online is the best way to take advantage of the precious metal’s current lofty price.

Tags: Gold Refiners, Sell Gold, Sell Scrap Gold

What Happens When I Sell Old Gold Jewelry to an Online Dealer?

What Happens When I Sell Old Gold Jewelry to an Online Dealer?

You’ve made a decision to sell your old gold jewelry, but now you have crossed that hurdle, how do you go about selling them and what is going to happen in practice?

The first thing to remember is that you are in charge – if there is anything happening you are not happy about, simply ask for an explanation and if you are still not happy, keep your gold jewelry and forget the sale.  These are your possessions until you have a check in your bank account, so don’t worry.

The first thing that should happen with an online deal is that the buyer will arrange for an insured courier to come and collect your jewelry. You should not pay for this, as after all if the buyers want the gold that badly they will be prepared to pay for it. Again, do not send your items anywhere unless they are insured and if you are being asked to pay for the courier, then the company you are dealing with is not providing a customer service which every reputable dealer is prepared to offer.

There should be a pre-printed form for you to use to list your gold jewelry for inclusion in the courier packet.

When you have sent the items to the dealer, the company will conduct an appraisal of the old gold jewelry. This will involve assessing the value of the gold content and coming up with a price they are prepared to offer you for your pieces.  You should receive the offer price by email for the fastest service, and the email should also include a form for you to print out and return to the company to signify your formal acceptance.

If you do not accept the price which is offered, you can do several things.  You can haggle with the company by getting on the phone and seeing if a manager will offer you some more money, or you can have your pieces sent back to you to try again with another company.  Bear in mind that the price of gold fluctuates wildly, so if you are being offered a price which is lower than you anticipate you need to check to see if the price of gold has dropped.  Also, bear in mind that the dealer is also looking for a profit in the deal and they do have costs to bear, plus your jewelry will not be 100% gold (even “pure” gold has other metals mixed in for strength).

If you accept the price which is being offered then return the formal acceptance.  The company will then cut a check for the deal and send this to you.  You should have payment in your hands within a week of accepting the price which is offered, and in most cases it takes only a couple of days.

That’s it – you’ve sold your old gold jewelry!

One tip to get the most out of your old gold items is to remember that the gold dealer is only paying for the value in the gold.  If you have a diamond ring, take the ring to a jeweler and have the diamond removed.  The diamond will also possess significant value, but when you sell to a gold dealer they are only paying for the value of the gold and not the diamond!

Tags: Sell Gold, Sell Jewelry, Sell Jewerly