How To Sell Your Gold

Gold is considered to be one of the most precious substances in the world.  In fact, the global economy and the wealth of each nation are based on the gold reserves they have.  In addition, a lot of people become extremely wealthy because of gold.  So, if you have gold, whether it is bars, medallions, coins, or jewelry, you can earn quite a bit of dough by selling it.  However, you will really only get value for your gold if you know how to sell it.  Here are some tips to consider.

  • Get it appraised.  Assuming that you are no expert in the world of gold, the first step that you will have to get done is to get your gold items appraised.  You should always know the market value of your trinket, bar, or coin prior to selling it.  The value of gold is depended on its weight and gold content and only an appraiser can provide you the information you need.  
  • Hiring an appraiser is easy; you can check your local jewelers to see if they have an in-house appraiser.  You may also find appraisers through Craigslist or newspaper ads.  Once you find 2 to 3 appraisers, bring your items to them and let them check it out.  It is highly recommended to get 3 different opinions to get an accurate feel of the value.
  • Consign it.  If you have a nice gold trinket or antique gold heirloom, assuming that you already had it appraised, you can easily sell it by consigning it to the various jewelry shops in your locality that specializes in antiques and heirlooms.  Give them your price and allow them to appraise it.  Negotiate for the consignment price.  If every detail is amenable, the jewelry shop will sell the piece for you with a nice commission or margin on top of your consignment price.  Once the piece gets sold, you can claim your money from the jewelry shop.  This option is also pertinent for gold medallions and coins, those that have great value as they are.
  • Sell it online.  EBay has been one of the best online places to sell gold trinkets.  This is an option.  Simply post your ad along with photos of the piece as well as certifications from various appraisers.  Many people shop around EBay for cool stuff.  Who knows, you may be able to sell your gold within a few minutes of posting.  Furthermore, you can consider the option of having people bid for your trinket as well.
  • Pawn it.  Selling your gold to a pawnshop is definitely an option.  However, bear in mind that pawnshops are known to low ball sellers.  They want to buy stuff dirt cheap in order to make a nasty profit on the turnaround.  Hence, though this may be an option for you, it is not a recommended one.

Finally, you may want to consider finding a gold dealer or buyer.  These people buy gold by the ton.  What they do is melt whatever they buy to form jewelry pieces.  So, if you have gold that you think may be better off melted and used as something else, then this is definitely another option to consider.


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