Where To Sell Your Gold Coins And Jewelry

By Norman Littlejohn

Many people have gold jewelry that they haven't worn in years (if ever). Others have coins that are collecting dust at the bottom of a dresser drawer, in a garage, or in storage. Some of the pieces may have accumulated as gifts. Others may have found their way into collections as minor inheritances. Still others may have been purchased long ago during a weak moment of shopping. These items can be quickly sold for cash. The question is, where can you sell them?

Depending on the types of gold pieces you own, there are several outlets that may potentially buy them. In this article, we'll provide an overview of the most popular places. Keep in mind that not all "popular" places make the best buyers. You'll discover the reason below.

Jewelers And Coin Dealers

Jewelers and coin dealers are always on the lookout for attractive and valuable pieces they can sell to their customers. If you own gold jewelry or coins that are in fantastic condition, you may be able to convince them to buy them from you. On the other hand, if your items are in poor condition, you're unlikely to have much luck.

One side note about jewelers and coin dealers: They may offer to buy your items for a very low price. The reason is because they want to "flip" them as scrap gold. In effect, they're brokering the transaction and taking a commission. You would do better to sell your items yourself.

Pawn Shops And Garage Sales

If your jewelry and coins are in poor condition, the style is unappealing, or you simply don't want the hassle of finding a dealer, you can take them to a pawnshop. The price you'll be offered for them will likely be lower than you consider fair. That's because the pawnshop owner needs to make a profit by selling your pieces to his customers. His customers are not likely to pay a high price for them.

Garage sales are another option. If you have items in your home that you would like to sell, you can organize a garage sale and tempt visitors with your gold jewelry and coins. Or, visit other people who are having their own garage sales. They might find your gold items irresistible and believe they can sell them.

Selling Your Items Online

There are many online gold buyers who are willing to examine your pieces and make a fair quote. The entire transaction is conducted by mail. Keep in mind, some function entirely as brokers. Once you agree to sell them your items, they'll take ownership and sell them to scrap buyers. The difference between the price they pay you and the price they receive represents their profit. If possible, try to work with online buyers who operate their own refineries. That's a sign that they are not a broker, and will likely offer a higher price.

If you're in need of money, look through your dresser drawers, garage, and attic. You may discover that you own a small collection of gold jewelry and coins that you can quickly convert to cash. - 31401

About the Author:

Sign Up for our Free Newsletter

Enter email address here