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Selling Gold Safely

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Sell My Gold Safely

Gold! Gold! Gold! From newspaper headlines in the 1800s to TV reality shows today, Gold continues to be a hot topic. And it should be. Even when the price dips, it’s still worth hundreds of dollars more per ounce on an average day than it was even four years ago. So if you have it but want to sell it, you might be wondering where to sell gold and about your options.

Gold comes in many forms and there are several methods to get it. Some prospect and mine for nuggets, pickers, and flakes in gold-bearing streams or in underground tunnels, either as a hobby or as a business. Some miners would never think of selling the gold they’ve found, but for others, that’s exactly why they’re out there prospecting— to sell what they recover and make money from their hard work.

Some people inherit gold jewelry or coins. Some even find gold relics or old coins with a metal detector. With vintage and resale shops such a hot trend, many people “thrift” for items that are made of gold, sterling silver, and diamonds.

To sell your gold safely, the first thing you should know is how to determine the value of your gold. Gold is measured in karats – a unit of purity out of 24 – with each karat indicating 1/24th of the whole. Typically, gold jewelry in the USA is 10, 14, 18, 22 or 24k. If you’re not sure how “good” the gold is that you own, using a scratch test, a gold testing kit or precious metal testing acids will confirm what karat gold you have. The GoldCube represents the World’s first automated ATM that can quickly and safely determine the value of your unwanted gold or silver jewelery and give you cash on the spot.

No matter how you’ve come to be lucky enough to own real gold, you need to know Where to Sell Gold if your objective is to make money from it. You actually have several viable selling options depending on what kind of gold you have (unwanted or broken jewelery, beat up old coins, natural gold nuggets, etc.) and the time and money you have to spend in the selling process, and of course, what you are interested in doing. It is important to carefully and safely store what you’ve recovered until you’re ready to sell. It’s best to keep your gold in a safety deposit box in the vault of your local bank, or purchase a safe for your home.