Where to Sell Gold For Maximum Profits!

Jewelry Shops

It's particularly easy to sell gold jewelry. Going to a jewelry shop is the best option because it gives more value to your precious metal and pays more money than pawnshops. Although jewelry shops offer wholesale prices, they can do an appraisal on how much your jewelry cost. One thing about a local jewelry shop is it does not put much interest in broken jewelry or gold scraps. And if they do, they may offer a small amount for your jewelry.

It's also wise if you just get an appraisal from one jewelry store and then jump to another independent store. If you do this, you'll know if the first jeweler's appraisal matches the second jeweler's. If the price matches, you know you are getting a fair deal.

If possible, do not sell gold in pawnshops. They tend to offer low prices for your jewelry and used them as collateral. Although they allow a certain period for you to get your gold back, you do no want to risk forgetting the due date and have your valuables impounded.

Gold Refineries

Gold Refineries is the best place to sell gold. Although they normally deal in wholesale or in large quantities, their services extend to individuals and people who want to know how much their gold amounts to. A particular reputable site is the Empire Gold Buyers. In addition to gold, they also buy silver, diamond, and platinum. They buy broken or bent jewelry, rings, dental gold, coins, old scrap gold, watch, earrings, and necklaces among others. Their site lists the price of every karat of gold. They also ship overnight through FedEx with $25,000 insurance for your security.

Another great refinery to sell gold is the Midwest Refineries. A well-respected company, it has one of the best payouts in the market. Midwest Refineries rates A in the Better Business Bureau or BBB. One drawback is that you have to pay for your own shipping and insurance.

Online Auctions

eBay is one auction site where you can sell gold. Like other online auction sites, they will charge you for a small amount for transaction fee. Selling it in online auctions can take time as the usual negotiations and bidding will apply. If you consider selling gold in online auction websites, have your gold appraised by two or three jewelers to know more about your jewelry's value.

Online buyers also go to online auction sites to buy and sell gold. However, Consumer Report has investigated cash buyers on the internet and found that they generally pay almost 11% to 29% of the actual value. Local buyers, on the other hand, pay 35% to 70%.

Sell gold personally

The best way, still, to sell your gold is to find a buyer you know personally. A friend will not take your stuff away after a month, and it will pay you out honestly and sometimes, generously. A family heirloom will not go to waste and you can be sure that it will be taken care of properly, especially if you are thinking of just loaning it.