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How to Sell Gold for the Best Price

By Edited Apr 12, 2014 0 1

Gold is one of the hottest investments going, but like any investment, making money is the key. With gold this can be a very complicated process. However, there are a few steps that can be taken to get the most out of a gold sale.

Things You Will Need

Time to search around and the skill of saying no!

Step 1

Selling gold starts with purchasing gold. To make any real profit, an investor must get the best price possible when buying it. Otherwise, the investor will be stuck with gold and no room to work, especially if the price drops. Make sure the original purchase price is a good one.

Step 2

Set a starting price and be prepared to work down. Selling gold, especially coins, is a bartering process. It is rare that a buyer will jump on the initial price. If they do, that means the price was set too low and they just burnt you.

Step 3

Build a relationship with dealers around the nation. When the dealer knows and trust a seller that will eliminate the hurdles of selling gold. Also, they may call and ask about items, putting the seller in the captain's seat.

Step 4

Do the auction thing on eBay or other auction sites. This doesn't guarantee the highest price, but there are times when the selling price will exceed expectations. If also eliminates the selling process.
Selling gold is not always easy, but develop a process and use it over and over.

Tips & Warnings

Always be an advocate for yourself, nobody else is going to be.


Nov 13, 2009 8:27pm
I would strongly suggest checking out the Silver and Gold Exchange before selling gold or silver to ANYONE. I did a great deal of research, online and offline, and learned a lot about this business. I checked pawn shops, jewelers, "gold parties", hotel "buying events as well as the online buyers, including the "as seen on tv" guys. I found that the Silver and Gold Exchange paid more than anyone else I could find. I liked the fact that they post the prices they pay per gram (beware of the places that quote in pennyweight/DWT) on a live price chart at http://SilverAndGoldExchange.com I also checked out their Better Business Bureau report and found they have never had a single complaint as opposed to HUNDREDS of complaints some other companies have! I can recommend them 100%
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