This is a sponsored guest post.
Are you hoping to make yourself a few extra dollars by selling your extra gold? If so, you may already have realized that there are countless places, both online and physical stores. All of who see to promise the best price for your gold. How can you decide which one will give you the best boost to your bank balance? We hope that the tips below will come in useful.
Sometimes It’s All About Timing To Your Gold For Cash
Our first little nugget of advice on getting the best price for your extra gold is to consider the timing. We all know that rules of supply and demand mean that there are times when more people than usual want to invest in a specific commodity, and gold is no exception to this rule. When more people are buying, the demand goes up, and so does the price. It is a good thing if you are the seller. So are there specific times which are good for gold sales?
Mostly when the economy was going through a rough patch, prices of gold are on a hike. Why does the demand for gold go up at this time? Getting cash for gold is often sought for in times of need and there is no better liquid asset than gold. People tend to like a safe bet when the economy looks shaky, so turn to gold as precisely that.
What does this mean for you? If you do not have the luxury of time, you may not benefit from this advice. However, if you can wait and sell your extra gold at a point in the future, it could be worth keeping an eye on any rough patches, even small ones, in the economy and get ready to strike a deal then. Of course, no one has a crystal ball to know when exactly there will be a slump in the economy; however, having a little patience and seeing how things turn out can be a worthwhile idea.
Specialist Cash For Gold Companies May Not Be Your Best Option
When you think about selling extra gold, you may automatically think about going to a specialist in gold sales; however, these may not actually be the best choice if you want to secure a fair price.
Other options that are definitely worthy of checking out are high street jewelry stores, brokers, and online precious metal companies. The best thing that you can do is get as many prices as possible. It will allow you the most chance of finding the one who will pay the most for what you have to offer.
Know The Value Of What You Are Trying To Sell
Do you know the worth of the extra gold you are thinking about selling? If you don’t, you may end up being an easy target for someone to cheat you of the price you deserve to get. Hallmarks and weighing are two of the best ways to determine how much your gold may be worth. These factors need to be compared with the current market value for gold when you plan to sell.
It is easy to get a valuation of what your gold is worth. Most high street jewelry stores will be happy to assess what you have and give you an indication of what you could hope to sell it.
Of course, be aware that the store may be hoping to sell your gold to them and may price on the lower side of what the value is. If you can get two valuations of your gold, you always put yourself in a better position.
Get A Price Then Get Ready To Barter
Many people shy away from any form of haggling; however, it is surprising how many companies and businesses are willing to enter into a level of negotiations. One of the best things you can do is get a price that a company is willing to pay, and then you have something to work with. Approach other options, ask for their price if it is lower than the one you have been offered ask them if they’re able to better it. You may have several options on the table that are very worthy of consideration before you know it.
Don’t Forget About The Value Of Other Parts Of The Jewelry
Many cash for gold companies are only interested in the actual gold; however, if your jewelry also has precious or semi-precious stones, it is certainly worth more. You may get the best price by having the stones removed and selling them separately, or you may find a company that can offer you a fair price for the jewelry as it is. As was the case with your gold, getting any stones valued before you enter into negotiations can help you reach the best deal.
Also, be aware that some items classify as antiques and are worth much more when kept intact than when sold for gold. If you have any clue that something you are about to sell as gold may be considered antique make sure that you take it to a specialist. You may find that collectors are willing to pay a lot more than a cash for gold company.
The Bottom Line On Getting The Best Price For Your Extra Gold
We are glad to see our bank balance go up a little, and selling extra gold is a great way to do this. However, with so much competition out there and the unfortunate existence of companies that would happily give you a bad deal, it is vital to be forewarned before you enter the ring. By getting your gold valued by, considering various companies, by assessing the value of extra parts of the jewelry, and by ensuring you don’t have a precious antique on your hands, you are well on the way to striking gold on the price of your extra gold!
