Sell Gold - How to sell your unwanted gold

Sell Gold - Tips for Selling Unwanted Gold

Gold – it’s a haven in economic uncertainty and a hedge against inflation. Some people choose to buy and sell gold according to what is occurring in the present marketplace. It's hard to believe that not that long ago gold was selling for only a couple of hundred dollars per ounce.

With today's economic factors in play, gold prices have risen, hitting a 26-year record in May 2008. Prices have backed off since then, but still are about 50% higher than one year ago. This means that it is still possible to make a good profit if you choose to sell gold now.

With rising gold prices, coin dealers and jewelers have noticed customers cashing in, pulling gold coins and unwanted jewelry from drawers and safe deposit boxes. If you have jewelry pieces that are gathering dust, or perhaps some gold coins, here are some tips to help you sell gold items and get the best price possible:

• Remember that the gold market is extremely unpredictable and volatile, and the prices fluctuate daily.

• To sell your gold coins, you should always deal with a member of the Professional Numismatists Guild. These are vetted dealers with reputations to protect.

• Expect to bring the coins in for a dealer to examine. Also remember that the value of gold is determined not only by weight, but also grade and scarcity.

• If you’re selling unwanted gold jewelry, you can look online and find an established estate jewelry house that you can contact to find out more details.

• Beware of any cash offers for your gold jewelry that may be made over the telephone. A reputable dealer will need to see the pieces, and in fact, will insist on this.

• Be sure of the quality and carats of your gold items when you go to sell them. These should be marked on the jewelry with numbers signifying the level of gold that they contain. Today most of the unwanted gold jewelry that is being sold is not 24-carat, but 14 or 18-carat gold. The money it is worth depends upon what type of gold as well as the overall weight of gold.

• You can find online markets that will purchase your gold and send you a package to send the items to them. These packages will be insured and will be certified to make sure that you get credit for what is sent in to these dealers. Many of these places will have you a check in the mail within 24-48 hours.

• There are some gold dealers and precious metals companies that advertise their jewelry buying services on the television. These businesses will also send you envelope packages for the shipment of your unwanted gold jewelry items.

• Some people may choose to dispose of their gold items at pawnshops, but this will probably get you the least return for your jewelry.

• You can always consider an online auction or a classified ad to sell your gold jewelry to private buyers. This may net you the most money but will usually take the longest amount of time to close the deal.

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