How To Sell Gold

In our economy, it seems as if the latest craze to make extra money is to sell gold. People are digging into their family heirlooms in order to pay for everyday necessities. You really can't blame them because there are so many companies out there who make it fairly easy to buy gold.

But before you take the plunge into the gold-selling business, there are a few crucial things you should know first. It can't be stressed enough that you need to be cautious and knowledgeable. It won't be difficult at all to find someone ready and willing to shell out money for grandma's baubles. Gold buyers seem to be on every corner these days. But it's vital you take your time and make a plan on just how you'll go about selling it.

It's so important to know the value of your pieces in order to avoid being taken advantage of. There's something called, the "melt" value of gold. This applies to whether you sell gold or buy it. Simply put, it means what the piece is worth if it were melted down and sold like bullion.

It's hard to imagine people would even consider selling their jewelry just to have it melted down in order to make money. But desperate times do indeed call for desperate measures. The beauty of the piece, its sentimental value and what it took to create that piece may hinder your selling it just to melt.

And if you really want to get creative, there are plenty of online sites which will allow you to establish your very own seller account. Then, you can list away! Just be sure you've done your research and sell the pieces at fair market value. Beware of selling them too low. Some potential buyers will ask you if you will take a best offer. That's fine, but often they offer a ridiculously low and insulting price. Of course, it's totally up to you if you choose to accept their offer.

It can't be stressed enough that you know the value of your pieces before you put them on the market. Why this is important is that you will most likely get a lot less than you could have if you don't know how much they're worth.

And, nowadays there is something called a, "gold party". They are sort of like those home parties where a company's representative presents their wares. All I can say is, "Beware!" There are two negatives in this attempt to sell gold. First, you will be required to pay what is called a premium to the hostess and, secondly, you will probably get a lot less for your jewelry than it's worth.

If you simply can't imagine having it all melted down, you can always search out a jewelry store. Often, there is a great market for used costume estate jewelry, and you may get a pretty decent price for it. Plus, it's always nice to think that another generation will be treasuring your family's heirlooms.