5 Ways to Get Cash for Gold

Do you have more gold than you need? If so, it’s not going to do any good for anyone by just sitting around in your attic. But it will do a lot of good once you find a buyer.

The truth is, it’s easier than you might think to get cash for gold. There are several trustworthy ways to trade your trove of golden treasures for sweet, spendable cash.

We’ve listed 5 such methods on this list. Actually, there are 4 good methods and 1 to avoid. In any case, learn all you need to know about how to sell gold by reading this guide.

  1. Online Gold Buyers

Selling to online gold buying companies is generally the best way to get cash for your gold. Without question, it’s the easiest and most convenient way. You just go to the website of your choice, follow the instructions, mail your gold, and wait for your cash.

Already, this might sound a little iffy to you. For instance, what’s to stop them from giving you a bad deal, or from taking your gold and giving you nothing?

That’s easy: the Better Business Bureau is there to protect you. Simply look up any gold buyer on the BBB website to see if they’re legitimate. You can also read online reviews of the company on many other sites.

Because of safeguards like these, selling your gold online (to a BBB-approved buyer) is 100% safe. You should get decent value for your gold this way, too.

  1. Local Gold Exchanges

Besides online gold buyers, there are probably local gold exchanges in your area. If you want to do things the traditional, pre-2020 way, you can drive to these buyers and hand-deliver the gold yourself.

Plus, the same rules that apply to online selling apply here as well. That is, you can check the BBB website and online reviews to validate the buyer’s legitimacy.

  1. Local Jewelry Shops

Selling to local jewelry shops works much the same way as selling to local gold exchanges. Find a reputable shop and you should get a decent value for your gold.

Although, not every jewelry shop offers gold buying as a service. You may also notice a significant difference in how much each shop offers you for your gold. After all, these are jewelers, not professional gold investors.

  1. Collectors

Don’t forget: some gold items have value for more than just their weight and purity. Some are collector’s items, like commemorative gold coins.

Before you sell to an investor who’s only interested in melting it down, research the item’s value as a collectible. You might find a collector who’s willing to pay more than the gold content is actually worth.

  1. Pawn Shops

We really, really don’t suggest selling gold to a pawn shop. A pawnbroker is likely to give you whatever value they make up off the top of their head, regardless of the gold’s actual market value. We simply put this on the list because it is, technically, an option.

Get Cash For Gold With These Tips

Ready to make money selling gold? Use one of these easy methods to get cash for gold right away.

Need some more investment tips? We can teach you how to save time on investment research and tell you which investments will save you money on your taxes. Find these and other helpful guides on our Investment Blog.

Leave a Reply