How To Sell Gold to Gold Buyers
Posted by Mike McKee on Tue, Dec 14, 2010 @ 09:13 AM
With gold prices falling back into the $1300 range, gold buyers are looking for more customers. If you are a customer looking to sell gold, you should be carefully following gold prices. The recent downward trend reflects the strengthening US economy and the continued upward movement of US equity exchanges.
Finding the right time to sell gold is a bit of art and a bit of science, but certainly worth the time and effort when working with gold buyers. Many cutomers have opted not to sell gold jewelry or sell gold coins as the price of gold continued to climb in recent months. However, now that gold prices have abated from their earlier sustained highs in the mid $1400's, it is certainly a good time to sell gold jewelry and gold coins.
Trusted gold buyers will provide you with the current spot market price of gold and will even call you by arrangement if the gold prices reach certain highs or lows. A customer should develop a trusting relationship with his/her gold buyer and understand their practices. If you're selling gold coins or selling gold jewelry, you should fully understand the process. As stated in earlier articles, its all about weight and gold content.
Gold buyers will ensure that the gold is properly tested to ensure that gold coins are not fakes and that gold jewelry contains the amount of gold that it purports to have by its karat stamp. This is usually an acid test but electronic testers are also used. How to sell gold requires knowing the quality of your gold and its weight. These are the two critical elements. Once these are determined and agreed upon, then its about pricing for your gold. Your gold buyer will offer you an amount for your gold coins and gold jewelry. You may be satisfied with that amount or you may want to negotiate for more. The greater quantity of gold you have with higher gold content, the more room the gold buyer will have to negotiate. It always best to know how to sell gold to gold buyers before you walk in the door.