Have some gold that you’d like to liquidate for cash but not sure where you’ll get the best deal?
Quick cash for old gold advertisements may be tempting, especially if you’re not familiar with where to begin. But with these schemes, how can you be sure that you’re getting the best deal? We considered the available options and came up with this list of the best places to sell gold in West Palm Beach.
Know Your Gold’s Worth
First things first, check to see if your gold is real with some of our recommended tests. Some include float and rust test in which you drop your piece of gold in a cup of water to see if it sinks before leaving it out in the open air to check for oxidization and the gold magnet test where the piece of gold is placed next to a magnet to check for movement.
Next consider how much your gold is worth, understanding that your local market may vary from others across the country (i.e. selling gold in West Palm Beach’s most notable pawn shops may be valued different from those in Atlanta). Knowing what you have will leave you feeling more confident during the sales process. Should you choose to sell your gold to be melted down for scrap, check that it is not worth more in its current form. This rings especially true for antique pieces that may have been passed down through generations. You could be sitting on a gold mine.
Regardless of where you ultimately choose to sell, make sure you shop around with gold buyers in West Palm Beach to get the best price. Start by taking your gold to a reputable gold dealer, like Twery’s, to have it appraised by an expert. Try going to three or four stores and compare the prices you receive. This will be especially useful should you choose to list your item on an online site.
Ask for Credentials
Make sure you’re working with a reputable professional by first asking to see the buyer’s credentials. If this person is accredited, he/she will be licensed by the state to buy gold. On the flipside, this person is also required by law to ask you, the seller, to show some form of government-issued identification whether it be a driver’s license, passport or some other I.D. This is done to prevent instances of money laundering and the sale of stolen property.
Watch the Scale
Better Business Bureau recommends that sellers keep an eye on how their gold is weighed. For example, jewelers make a valuation by the Troy (31.1 grams), not by the ounce (28 grams). It is also advised to monitor the method used to pay for the gold. Some buyers pay per gram, whilst others use a system called pennyweight which is equal to 1.555 grams. Sellers should make sure that their item isn’t being weighed by pennyweight and paid by the gram, as that allows the buyer to purchase more gold for less money.
Now that we’ve covered the basics, let’s discuss where you can sell your gold.
Whether you’re in a financial bind or you’re just looking to make a quick buck off of any unwanted jewelry you have sitting at home, selling to a pawn shop is a fast and easy option for selling your gold. With over 10,000 pawn shops located in the U.S. , there is no shortage of selling options.
Worried that you might not get a fair price at a pawn shop? As we’ve suggested, take your gold to a few pawn shops to figure out the best price point.
If you’re skeptical about selling to a pawn shop and would prefer to sell to a more trustworthy source, consider selling your gold to a gold dealer like Twery’s. Our family-owned and operated store can help you at every step of the process from expert appraisals to the final transaction. In business since 1967, we are the top choice in South Florida for those who seek a fair and competitive analysis of what their gold is worth and the satisfaction of getting paid immediately by one of our gold experts.
When you sell your gold to Twery’s, you can rest assured you are working with a company you can trust as is evidenced by our good standing with:
- American Numismatic Association (ANA)
- Better business Bureau (BBB)
- Central States numismatic Society (CSNS)
- Florida United Numismatists (FUN)
- Numismatic Guaranty Corporation (NGC)
- Professional Coin Grading Service (PCGS)
If you have some gold jewelry that is collecting dust in your home, you could try taking it to your local jeweler to make a sale. This could be an excellent option for those stylish pieces that show no visible signs of use or damage.
Have some white gold jewelry? It could be worth more than you think! The value of white gold is comparably higher than that of yellow gold thank to its mixture with Rhodium, a high-value metal.
Before you make a final sale, make sure to have your jewelry appraised so you know what to expect as a sale price.
Online Auction Sites
If all else fails, there are always online auction sites like Ebay. There are several advatanges to considering this option. First is the high volume of trade being conducted on the site. With millions of bids being placed each day, Ebay has become its own mini-economy making it easier for you to find someone interested in buying something as valuable as gold. Second is the competitive nature of the bidding process. If you manage to garner enough attention for your item, you increase the potential of bidding-war in which individuals drive up the price trying to out-do each other in a battle for your product. This competition can only help you.