Two Things to Make Sure of Before Selling Your Gold for Quick Cash

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Two Things to Make Sure of Before Selling Your Gold for Quick Cash

Before bringing your gold to a gold buyer or another gold service, you should do a little research. Even if you need to sell your gold quickly, it can help to do at least some legwork to determine if the cash value offered comes anywhere close to the actual value of your gold items. Here are a few things you can do before selling your gold to a gold buying service.

1. Make Sure Your Gold Isn't a Collector's Item

The amount of gold in a coin or piece of jewelry will typically represent what someone will pay for the item. However, some gold pieces have values that have nothing to do with the gold content contained in them.

For any gold piece you have no idea about, you can try to gather extra information to see. If what you have is a gold coin, then it's not hard to look online for the coin and its characteristics to find out quickly if it's something with more value to it than just its gold content.

For things like jewelry, this can become a more difficult process. With vintage or antique jewelry, you can look for any identifying characteristics, such as stamps, marks, and symbols and see if you can find mention of them online. You can also hire a professional appraiser, but that may defeat the purpose of selling your gold quickly.

2. Make Sure You Know the Current Gold Market Values

The value of gold changes all the time. Yesterday's gold price can look a lot different from today's gold price, and it can change again tomorrow. When looking for gold buyers, you should have an idea of the current market value for gold.

Businesses that buy gold pay close attention to those values, and will base what they offer you on them. If you know the values yourself, you might find room to negotiate. Knowing the values will also help you to know when a gold buyer offers you a good deal.

Market values for gold are a dollar amount for a troy ounce of 24-karat or better gold. So, if you have a gold piece that offers about a gram of 14-karat gold, you will have to cut the value accordingly. You can use a gold calculator to help you figure out the math.

Once you know your gold isn't something that should go to auction and you have a general value for your gold, you can sell it to a gold buying service with confidence.

To learn more about selling gold, contact a gold buyer in your area like those at Beaverton Coin & Currency.

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