Selling the gold coins or jewelry hidden in your safe that you no longer use is a good way to get some cash to fix a financial situation or keep you going. However, getting the best deal is not always so easy. If anything, you have to conduct your due diligence beforehand to ensure you find the right gold dealer who can give you more value for your gold items. But worry not because here are some nuggets of advice you can use when you decide to sell your gold jewelry or coins.
Wait for the best time to sell
Like many other commodities, supply and demand dictate the price of gold. For instance, gold is usually in more demand when the economy is in a crisis because it is considered a safer investment than other commodities like shares and stocks.
When you decide to sell your gold items, take your time to assess the market first. If you predict that tough economic times are on the horizon, it is best to wait to sell your gold then to get the most value out of it. If you need some quick cash, conduct your due diligence before selling.
Get a valuation for your gold.
Depending on the current gold prices, you have to know what you can expect from selling your gold items. You can look for an appraiser or high street jeweler to evaluate your gold to know how much you can get from selling the items.
Even when you send your gold coins or jewelry to a gold for cash company, always get a valuation first, and if it is a poor deal, you can ask for your items back or haggle the price. However, you have to ensure that the company is trustworthy.
Negotiate before selling
It is always advisable to haggle before selling your gold because you are looking for the best deal possible. Shop around to find out how many gold dealers are in your area. If many of them compete for the same market, they will be more than willing to negotiate with you, especially if you are selling quality gold jewelry. You can also gather quotes from different dealers so that you settle for the one offering the best value in the end.
Consider selling your gold online.
You don’t have to settle for selling gold in the pawnshops around your area, thanks to the internet. You can connect with a trustworthy gold exchange online that will offer you the best value for your money. It is also a good idea if you live in an area with few gold dealers who are not giving you a good value for your gold items. But before you ship your gold items over to the gold exchange, find out about their reputation, years of experience, and credentials.
Look at the value of your gold items as a whole. Some designer or antique gold jewelry is better off sold as a whole rather than scrape. Most importantly, get your god items evaluated to know their worth before selling.