The Best Places to Sell Gold

Best Places to Sell Gold

You could wish to sell your gold if you want to get rid of some items in your home or generate more money.

Gold is a valuable metal that people have traded for a long time. It is the third most valuable precious metal on earth.

Selling gold jewelry, bars, bullion, or nuggets is a good way to make money. That’s why there are still places where you can pan for gold!

This post will teach you how to get the most money for your gold. This includes learning how to appraise your gold and get the best deals.

Where to Sell In Person

There are a few choices to consider if you want to sell gold. Some of the greatest places to sell gold for the most money are listed below.

Local Jewelers

If you want to sell your gold jewelry, consider taking it to your local jewelers. You can use Google to find jewelry stores near you. I would recommend going to a few different stores so that you can compare prices and get the best deal.

If you’re planning to buy gold jewelry, call the jeweler ahead to ensure they have it in stock. Some jewelers sell gold jewelry but don’t buy it. So calling ahead can save you time.

Gold Exchange Stores

You may have seen store signs that say, “We buy gold.” These signs are usually for stores that exchange gold and silver.

Exchange stores are a good place to sell gold, silver, and diamond jewelry. They also accept other things that have precious metals or diamonds. This can be a better option than pawn shops. It would help if you compared offers before you decide where to sell.

If you have gold, diamonds, silver, or platinum that you want to sell, a gold exchange store will likely give you the scrap value.

The scrap value of your jewelry is less than the market value. People usually want to melt down your jewelry to make a new piece. But getting an upfront payment can be better than finding someone who wants to buy your jewelry and add it to their collection.

Call the different stores in your town to compare prices if you want to exchange an item.

Zales

Zales is a well-known jewelry store, and they have been selling jewelry for 90 years. Zales offers both a Lifetime Diamond Commitment and the Zales Gold Exchange.

As long as you have a valid Zales sales receipt, the business guarantees a trade-in value for diamond bridal sets. The trade-in value is not available for lab-created diamonds.

Liberty Gold and Silver

Liberty Gold and Silver is a company that is worth looking into, even though it isn’t as highly rated as some of the other companies.

Suppose you opt to sell your gold to the company. In that case, you must deposit it in a padded, pre-paid, and insured envelope provided by the company. It can be dropped off at any authorized shipping location.

A $1,000 insurance policy covers this envelope.

Liberty Gold and Silver gives a price match guarantee of 110 percent. If you discover a buyer willing to pay more for an item, the company will match that price plus 10%.

After you send your gold, the company will contact you with a quote via email or phone. If you accept the quote, you will receive a check within 24 hours. You can pay a small fee to have the money wired directly into your bank account if you need the money sooner.

The one drawback with Liberty Gold and Silver is that I could not locate any customer evaluations on Trustpilot or the Better Business Bureau. However, because the BBB rating is good, it’s still a smart choice.

US Gold Buyers

You can sell a variety of items at US Gold Buyers, including the following:

• Scrap gold and dental
• Jewelry
• Watches
• Bullions
• Coins

You may receive a free express label from the company. This will allow you to send your items for free! By FedEx, you get free insurance and tracking. There is an excellent A+ rating from the BBB for US Gold Buyers. It has an excellent 4.8-star rating on Trustpilot, but the BBB also accredits it.

Express Gold Cash

Express Gold Cash is another website you could use to sell your gold. They will give you the payment within 24 hours, which is good. They have almost 2,000 reviews on Trustpilot, where they have a rating of 4.9 stars, which is Excellent!

The BBB accredits Express Gold Cash. The company also has more than 25 years of experience. If you send your products to Express Gold Cash, they will ship them to you for free via FedEx overnight delivery. And if you don’t like the price you’re offered for your stuff, Express Gold Cash will return them to you for free!

Worthy.com

This is an auction platform that will assist you in selling your item. Their website provides step-by-step instruction that covers all you need to know.

You begin by providing them with a description of your jewelry using an online questionnaire. They then arrange for safe shipping. They clean, photograph, and list it on their website once it arrives. You can set the reserve price yourself or have their specialists assist you.

The auction will take place online. The item sells if the auction price exceeds your reserve price. You can select your preferred payment method and get the money minus their commission within a few days.

Money Metals Exchange

Money Metals Exchange is a wonderful place to start if you want to sell gold coins or bars. They have great reviews online, an A rating from the BBB, and 5-star customer ratings. Plus, they’ll pay you immediately once they have your metals.

TheRealReal

TheRealReal is a consignment site. If you have a piece of designer jewelry, this is an excellent option as you are likely to get a higher price than if you sold the piece as scrap gold.

You can sell your items directly to the site or wait for a customer to purchase them. You can start by making a video appointment or shipping it for free.

Circa

Circa’s website does not require you to send your items right away. You can take pictures and send documents through a form. Within 48 hours, they will give you a quote.

If you accept the quote, Circa will send you a shipping kit. When they receive your items, they’ll make a final offer. If you accept, you’ll get paid.

Sotheby’s

If you have rare jewelry or gold collectibles, consider selling them through Sotheby’s. This platform can attract wealthy collectors who may want your items. You can sell jewelry, watches, coins, and other valuables that contain gold and have a high collectible value. Your selling options include:

• Auctions
• Fixed price “buy now” online sales
• Private sales
• Retail locations

An appraisal will determine the best sales method for your portfolio. The platform fees will depend on the listing method, and you will receive a personalized quote. You may also have to pay for shipping.

1. Check if Your Gold Is Real

Make sure that your gold is real before you sell it. Unfortunately, not all “gold” is gold.

Gold can be difficult to identify, but there are a few ways to check if what you have is the real deal.

• Use heat

Gold is a valuable metal that can be found in jewelry or coins. By heating it, you can detect if something is gold or not. If it is real gold, it will get brighter. But if it is fake gold, it might change color or get darker when heated. So be careful when testing gold items to make sure they are made of gold!

• Try a magnet

If you have a gold item, you can check to see if it is real by using a magnet. If the item is not magnetic, it is made of real gold. If the item is magnetic, it is not made of real gold.

• Check if it colors your skin.

Gold jewelry will never discolor or discolor your skin. If a piece of jewelry causes your skin to turn green or black, it is not genuine gold. I’ve had some costume rings that were made to look like gold, but they made my finger green, so I switched to real gold.

• Put the gold item in the water.

You can tell if an object is a gold by putting it in water. If the object floats, it is not gold. Gold does not rust, so you don’t have to worry about that.

2. Know the Weight and Karats of Your Items

To determine the value of your gold object, you must first determine its weight and carat. You can measure the weight with a kitchen scale. It is important to note that some places use different measurement types, like the Troy ounce.

It is simple if you want to know how much gold your items are. Most objects will have a stamp on the back or inside indicating the amount of gold.

You will almost certainly discover that this is simply in karats. This could be 9k, for example. That means the gold is nine karat gold. Some golden items, like jewelry, have a 3-digit number stamped on them to show how pure the gold is.

Here’s a guide to those numbers:

• 999: 24 karat – 99.9% gold
• 990: 22 karat – 99% gold
• 916: 22 karat – 91.6% gold
• 750: 18 karat – 75% gold
• 585: 14 karat – 58.5% gold
• 375: 9 karat – 27.5% gold

3. Know the Value of Your Gold

Gold’s market value changes every day. Knowing the market value is important, so you know if you are getting a good deal or not. There are many online calculators to help you figure out the worth of gold.

Here are a few examples:

• GoldCalc.com
• CoinApps.com
• Gold Calculator USA

Specific dealers know that individuals are looking to sell gold rapidly for cash. The dealers might offer a lower price than the actual value of the gold.

4. Get Multiple Quotes

You may find that there is a place that will offer you more money for your stuff. Never be hesitant to shop around for the best price before you sell – you’ll make the most money this way.

5. Separate Items by Their Karat Value

When selling your jewelry, make sure to separate it by karat value. This will help ensure that you are paid fairly for each piece of jewelry. Sadly, dealers may try to weigh all of your jewelry together and offer you a price based on the lowest karat weight.

6. Research the Buyer

Before dealing with them, look for a gold buyer’s profile on the Better Business Bureau’s website. You may also read client feedback on social media sites like Facebook.

7. Select the Most Profitable Option for the Items You Have

Some products are worth more when sold as-is than when sold for reprocessing. With a well-known piece of jewelry, you’ll likely earn more for it as a whole rather than burned down if you sell it.

If you have something made of gold, you can contact a jeweler. If it is antique, you should go to an antique dealer. These items may be worth more than the metal they are made of.

If the item is not very old, rare, or from a famous designer, melting it down may be your best option.

8. Know the Details

You may choose to send in your gold for cash. If you do, make sure you know all of the rules and regulations before you sign up.

Make sure you understand:

• How long does it take for you to get paid?
• How long will the corporation keep your gold before it is melted down?
• How long do you have to decline the offer?

Take pictures of the products before sending your gold. Sending the things insured is a good idea. Also, make sure you have all the necessary papers and filings.

9. Consider Having Your Stuff Appraised

If you have a lot of stuff or some valuable items, it is good to get them appraised before you sell them.

It’s critical to consider artistic value, inlaid diamonds, and quality to earn the greatest money when selling your jewelry. The up-front expense of this may be higher, but in the long run, it may pay off. You can get your items appraised to determine how much they’re worth.

Another benefit of having an estate sale is getting a more accurate estimate of how much your belongings are worth.

10. Take your ID

When selling gold, you may be asked to show a government-issued ID. As a result of customers’ desire to avoid acquiring stolen goods, this practice has become widespread.