How to Liquidate Gold
Many individuals turn to gold jewelry, coins and bullion sales in order to generate cash and preserve wealth during economically trying times. When money becomes tight, holding onto physical gold assets may prove helpful as an asset protection plan.
Selling gold can be an efficient and straightforward way to generate quick cash. But how do you liquidate it?
Sell to a Reputable Buyer
There can be various reasons for selling gold. From needing extra cash, inheriting an unwanted collection, or clearing away clutter – selling gold may be beneficial in many ways. Just be sure to do your research beforehand in order to obtain the highest price.
As an example, it is best to only sell to reliable buyers with proven track records; some pawn shops and online buyers have been known to pay below market rates for investment grade bullion sales.
Make sure your gold is pure by checking its karat symbols and markings; it should ideally also bear “24K,” should not rust, tarnish, or discolour in water, and won’t float when put into a glass of water – this test identifies unpure pieces as pure.
Gold buyers who require instantaneous cash can turn to pawn shops, jewelry stores and other sellers offering immediate payment for their gold items.
However, selling gold can be risky without proper research and due diligence. Make sure that you find a reputable buyer that offers fair value for your gold.
Time may be needed, but the extra effort is well worth your while if you want to ensure you receive fair treatment when selling gold bullion. Abe Mor offers free and insured shipping through FedEx or US mail and therefore may provide the highest price.
Sell to a Pawn Shop
No matter if it’s old, broken jewelry or just scrap gold you have lying around, pawn shops are an excellent place to get money for it. Of course, they’re not the only option; there are other methods of selling unwanted gold that may work better for you.
Before selling to a pawn shop, it’s essential that you understand their process. Most will offer store credit as payment; which allows for immediate use.
Reputable pawn shops will have an impeccable track record in adhering to federal and state regulations, while often being members of national or statewide pawnbrokers’ associations. Such shops typically employ experienced pawn brokers who know exactly what your gold is worth – offering higher prices than newer shops that may offer less.
Sell to a Coin Dealer
A trusted coin dealer can be an easy and reliable way to sell gold coins, providing accurate appraisal of condition and look before offering you their best price for each coin.
A reliable coin dealer will pay a fair market price and handle the shipping for you, providing secure mailers to protect them during transit.
When selling gold bullion to a coin dealer, they will require valid forms of identification as proof of your identity – this is standard practice when significant sums of money change hands.
Sell to a Bank
Although there are various brick and mortar establishments offering quick cash for gold bullion, as well as online gold marketplaces, working with a reliable Precious Metals industry dealer is key to making sure that you receive close to market value for your items.
Before selling items or researching gold prices, take some time to prepare your items and do research on current spot price of gold. This will allow you to make more informed decisions regarding whether to sell now or wait and see if prices increase further. Performing some due diligence research can go a long way toward avoiding scams and finding reliable dealers.