Making Ends Meet

Tips To Make Sure You Make The Right Decisions When Selling Your Gold

12 November 2021

Judy Gomez

If you have some gold jewelry, trinkets, or even bars just sitting on a dresser or in a safety deposit box somewhere, perhaps you've considered selling off some of your collection to a local gold buyer so you can get your hands on something that might be more immediately useful: cold, hard cash. To that end, maybe you've already researched one or more local gold buyers who can help you convert your gold into green. But before you head off to a local shop or business to sell your collection, here are some important tips to keep in mind.

Put Impulse and Sentimentality Aside

Have you been thinking of selling off your gold for a while or is this an impulse decision? Either way, make sure you are not getting rid of something you will regret not having later on. The family heirlooms might fetch a high price, but do you really want to get rid of them forever? Conversely, when it's time to actually sell, don't expect your sentimentality or back story on a certain piece to get you a higher price. The gold buyer won't care that this trinket used to be your grandfather's. They will simply want to know how much real gold is in it and what condition the trinket is in. Set your expectations accordingly.

Know What You Have and What You Don't

Speaking of expectations, inspect your gold before you go into the shop and try and figure out your own price range. The amount of gold in something is often measured by karats. Try to separate different jewelry or trinkets by karat count if you want some items to be weighed separately. Keep in mind that some gold jewelry or trinkets might only have a sliver of gold on top but actually be silver or something else underneath. Do your own research now so you aren't surprised by a low offer at the gold buyer's shop. This may show you that it's not worth selling a certain piece if it's not made of as much gold as you thought and the sentimental value is still worth considering.

Look Around for a Reputable Buyer Who Will Offer a Fair Market Price

Finally, don't just run off to the first gold buyer you find. Research the current market price and find a gold buyer with positive reviews or multiple years in business in your community. A reputable buyer is more likely to offer a fair price and the transaction should go more smoothly.

Talk to a gold buyer near you, such as Beaverton Coin & Currency, to sell your gold.

Share