Because of geopolitical tensions, gold prices have fluctuated in recent months, but as the Ukraine situation eases, the numbers have steadied themselves at $1,300 per ounce. For many people, this could mean that selling gold chains or selling gold rings would be beneficial before the price wavers again.
Here are few other things you should keep in mind as you think about selling your gold.
- Appraisal First. Before you decide to search for buyers, you may want to look into where to have gold appraised first. If you have antique jewelry or vintage pieces, they will likely be worth more than you realize. As scrap metal, they may only return less than $100, but depending on who the designer is, USA Today reports that they could be worth several hundreds of dollars. Local jewelry stores should be able to tell you where to have gold appraised, and this will be the best way to know how much your pieces are really worth.
- Shop Around. There are likely many gold and coin buyers in your town. You will want to make sure you get several different bids before you finally sell. Depending on the day you sell your gold, and where the gold prices are at that point, the quote you get will vary. By checking the price of gold before you approach various buyers, you will know how much you could potentially get, reducing the chances that you will be duped into selling for less than you deserve.
- Credential Check. Often times, you will find people who are not certified buyers, and could be striking deals for gold for unreasonable prices. It is best to ask them for their credentials, be sure they have been in the business for several years, and also ask if they are certified by the Better Business Bureau. This ensures that they are following best business practices, and not trying to rip you off.
When you look for the best place to sell scrap jewelry, be sure to have your gold appraised first, so that you go into the transaction more informed. This will raise your chances of getting the most cash for your gold.