Selling Gold: Quick Tips

18 February 2020
 Categories: , Blog

When you've got coins or jewelry that have to be sold, you may not have much information about the best ways to sell gold. Luckily, the pointers below should boost confidence about finding gold buyers and feeling satisfied with the money you get.

Know Base Prices

Of course, your gold jewelry or coins aren't gold bars, but finding out what gold is currently selling at on different commodities markets will give you a basic idea of what your own pieces could go for. 

Sell Individual Pieces

If precious metals aren't familiar to you, it may seem like too much of a headache to figure out prices for individual pieces. You may want to just unload an entire coin collection or an entire jewelry collection. However, this can be a good way to leave money on the table; if you're interested in getting top dollar for your gold, individual selling is often a better idea. Different pieces could attract buyers who are willing to pay more for something that catches their eye or means something special to them.

Understand Karats

Pure gold is not always used in jewelry or for coins. You'll find that most of what you own is 14 karat or 10 karat. A single karat is 1/24th pure gold. Therefore, if you have a piece of gold that is 14 karats, the piece is made of 14 parts gold, but it also has 10 parts of other metals. Of course, the gold is the metal that is considered the most valuable.

For that reason, if you are insistent on selling lots of different pieces, ensure that you keep 10 karat and 14 karat pieces separate so that you can sell them at what they're worth.

Talk to People Who Sell or Buy Gold

When you're able to talk to people who buy and sell gold regularly, they can advise you about how best to sell your own pieces. Joining online forums filled with gold sellers or buyers can give you a tremendous amount of resources to learn from and get ideas from. If you have specific questions about the individual pieces you own, you can ask and get advice that could help you get a sale faster or make more money from your pieces.

With patience, knowledge, and some help, your attempts to sell gold should be more successful. Take your time to learn about the pieces you've got, and you should be pleased with your sales. Contact a gold buyer in your area for more information.