Table of Contents Hide
- Is It Easy to Sell Gold?
- How do I sell gold?
- How much is gold selling for today?
- How much is gold worth per gram?
- Factors that determine the price of Gold
- How to Check if your Gold is real
- How to calculate the price of your gold item
- Where are the Best Places to Sell Gold Jewelleries Online?
- Where to Sell Gold Offline
- What’s the best way to sell gold for cash?
If you are thinking of cleaning out your jewelry box, be it of unused jewelry or ones with bad memories, the easiest way is to find places to sell the gold for cool money online or offline. You need to know that selling gold is easier than you might think.
Is It Easy to Sell Gold?
As one of the rarest metals in the world, the gold market has been around since gold was first discovered. With many uses, from electronics to fine jewellery, it will continue to be around, even in the future.
Most persons have had great difficulties trying to find the most appropriate place to see their gold online for cash due to the harsh economic times or the array of online gold scams and insincere gold traders. But, in truth, it is not as difficult as it seems.
In this article, we shall discuss a lot about all you need to know about selling gold items, know its value, how to know your gold is real and places to sell the gold both online and offline.
How do I sell gold?
Once you have decided to sell your gold item like jewellery, coins or gold teeth, you need to know exactly what you have and how much you can expect in return.
With online calculators you can quickly find an estimated value of your golden item. Once you know how much to expect, you will find out which of the sales methods available is the most convenient for you.
You can also check out a few places and compare their offerings to get the most cash for your gold. There are many online gold buyers to choose from. This is usually the easiest and fastest way to sell gold.
Offline places are physical stores and pawn shops that buy gold. Look around your neighbourhood to see if there are any.
How much is gold selling for today?
The selling price of gold depends on many factors. The market price for gold changes daily, but the prices here apply to gold bars and other forms of pure gold.
As of September 9, 2021, the price of gold in the United States is $1,924.27 per ounce, or $61.87 per gram – a new record and one of the highest gold prices since 2013.
Gold prices typically rise as the stock market falls in value and hit recent record highs due to the recent decline in the value of most stock indices.
How much is gold worth per gram?
Gold prices are currently at a record high. In the past 12 months, the price of gold has risen by more than 30%. Since 2000 the price has increased by 433%.
The value is based on many factors, but the most important one is the current gold bullion market price. The price per gram was $49.90 on February 6, 2021, which is equal to $1,552.75 per ounce.
This price applies to pure gold such as gold bars. If you have jewellery or other gold items, most likely they will be mixed with other metals and as such the price will be lower.
Factors that determine the price of Gold
Purity: As with other gold items, the higher the carat, the higher the value of your coin.
Weight: Since the price of gold is calculated per gram or ounce, every gram of your coin counts.
Condition: A good or new condition of your golden coin can increase the value of your coin many times over.
Rarity: Rare coins are worth a lot more than the usual ones.
How to Check if your Gold is real
If you can’t find a karatmeter to measure your gold item, there are a few tricks you can use to check whether the item you have is gold or not. While only a professional can tell you exactly the carat of your gold item, you can use one or more of the following tricks to check if it’s fake or genuine:
- Heat: hold the object over a constant flame. You can use a lighter or stove, but not a blowtorch. Fake gold will darken or otherwise change colour. Real gold gets lighter when it’s hot.
- Magnet: Use a strong magnet to see if the object is attracted to it. You can buy a sufficiently strong magnet from a hardware store. Gold is not magnetic and is not attracted to it. Unfortunately, if your item is magnetic it is not gold.
- Skin: If the jewellery turns your skin green or black, it is not gold. Golden jewellery will never stain your skin.
- Water: Put your golden object in a glass of water and let it stand for a while. Real gold is sinking. So, if it floats, it’s not gold. Unlike some metals, gold won’t rust no matter how long you stay in the water.
How to calculate the price of your gold item
There are many gold price calculators online that you can use to calculate the price of your gold item.
To get an accurate calculation you need to enter the weight and carat. Just use a delicate kitchen scale to find out the weight of your item.
The carat number is usually on the item itself. You should be able to find a stamp on the back or inside the item. You will most likely find carats, for example 18 carats, which means the item is 18 carats gold.
Gold items may also have a three-digit number on the stamp. See the meaning of these numbers below:
- 999: 24 carats – 99.9% gold
- 990: 22 carats – 99% gold
- 916: 22 carats – 91.6% gold
- 750: 18 carats – 75% gold
- 585: 14 carats – 58.5% gold
- 375: 9 carats – 27.5% gold
Where are the Best Places to Sell Gold Jewelleries Online?
Here are the best Places to Sell Gold Jewelleries Online for some nice cash which includes the famous CashforGoldUSA, Liberty Gold and Silver and US Gold Buyers.
- Express Gold Cash
- Liberty Gold and Silver
- US Gold Buyers
- National Gold Buying
- JM Bullion
- American Bullion
- Goldco Precious Metals
- Money Metal Exchange
Some of these places have a long history of providing adequate value for gold items and are accredited and recognized by the Better Business Bureau with an A+ rating.
CashforGoldUSA is one of the oldest gold buyers and among the top places to sell gold online. The company buys gold jewelry, scrap gold, and gold coins from all over the world. They are known to have some of the best gold prices among online jewelry buyers.
For many years, CashforGoldUSA has won the trust of its customers in excellent and fast service and affordable prices. They also offer a “gold price maximizer” that pays the difference if the gold market price rises within 30 days.
Express Gold Cash has been in business for over 25 years. They buy gold jewellery like engagement rings, watches, gold coins, dental gold, and other metals.
If you are not sure if you can sell your item, you can contact them by phone or using the online form.
Liberty Gold and Silver buys all types of gold jewellery and gold coins. They have been in operation since 2012. There isn’t a lot of information on their website, but they have a 24/7 phone line in case you have any questions about your gold items, pricing, or shipping.
Liberty Gold and Silver have not been around as long as some of their competitors.
US Gold Buyers is a high-quality gold buyers’ site that promotes high pay-outs for your gold coins, jewellery, and other precious metals, as well as diamonds, watches, and other fine jewellery. US Gold Buyers was awarded the A + by the Better Business Bureau in 2013 and was founded.
National Gold Buying (nationalgoldbuying.com) is a division of Star Group Refining. The company promises better gold pay-outs by eliminating the middleman so you contact the refiner directly.
National Gold Buying buys rings, gold chains, necklaces, earrings, charms, bracelets, cufflinks, pins, brooches, watches, coins, collectibles, cutlery, mugs, trophies, and even dental gold.
APMEX is both a buyer and a seller of precious metals. APMEX, which stands for American Precious Metal Exchange, will also keep your precious metals investments safe for a fee.
Kitco is a giant in the gold and precious metals industry. Founded in 1977, the Canadian company has a news agency focused on the production of written and video content on the precious metals market, as well as a large buying and selling operation for gold, silver, palladium, and rhodium.
The Kitco Index is one of the world’s most famous gold price indices. Kitco does not buy scrap gold, gold jewellery, or other scrap metal from individuals, but rather deals with a business entity such as a pawn shop, gold exchange, real estate agent, or jewellery store.
Kitco will purchase precious metal coins from individuals.
GoldFellow (goldfellow.com) is unique in many ways. First, it’s one of the few online gold buyers that has retail locations across the country. Second, GoldFellow strives for transparency, from introducing its founders and team members on its website to opening your gold-containing envelope under a video camera.
JM Bullion is primarily a gold and silver coin seller as well as a gold IRA broker who has a large number of products for sale on their website. JMBulllion.com buys silver and gold coins with a minimum shipping of $ 1,000.
American Bullion doesn’t buy gold coins, jewelry, or bullion, but rather helps you convert an IRA, former 401 (k), or other retirement investment into gold, silver, palladium, and other precious metals.
American Bullion Inc. has been in business since 2009 and has an A + rating from the Better Business Bureau.
Goldco is a competitor of American Bullion who also helps clients convert their retirement investments into gold IRAs and other precious metals IRAs. These are specialized investment instruments that enable safe and long-term investments.
GoldCashOut (goldcashout.com) offers a guarantee that you will get the highest payout for your gold: if you are not satisfied with your payout, you can return your check within 15 days and have your gold returned.
With over 28 years of experience in the gold industry, GoldCashOut promises to beat any written offer for your gold, offering a $50 cash bonus on withdrawals over $250.
Luriya is a household name in Manhattan’s Diamond District. You have been buying gold for more than 20 years. If you can’t visit their New York store, you can sell your gold online.
Luriya is known for their professional team and the excellent customer service that they have provided for many years. When they put their service online, they maintain the quality of customer experience for which they are known, so you can expect only the best.
Money Metals Exchange sells and buys gold online. This company is not like other companies we looked at. They mostly sell gold and other metals, but you can also sell them your gold at a reasonable price. You might not buy jewellery, but you can sell gold coins here.
SellYourGold.com has been buying gold for over 50 years. The company uses proprietary technology to rigorously test gold items and bring you the best deal. They buy all kinds of gold items including jewellery, coins, and gold bars.
Where to Sell Gold Offline
No matter what city you live in, you’ve probably seen plenty of places near you where you can sell gold for cash. Not all branches have a good reputation, but some of them really do.
Three main types of outlets to sell gold for cash:
- Pawn Shops: Pawn shops are known to be a better offline place to sell your gold than cash for gold stores near you. They usually offer higher prices and the process only takes 5-15 minutes. While these types of outlets may not have a good reputation, you can always choose chain outlets that are great and clean.
- Local Jewellers: Many local jewellers in your area buy gold from people, much like cash for gold shops. It can be a convenient option if you have one of these stores in your area. Some of them are reasonably priced, but it’s always best to speak to a few buyers to find the best deal.
- Gold exchanges or cash for gold: There are many such outlets in every city. This is a quick and convenient way to get cash for your gold. They buy gold to be smelted and reused, so the price they offer may be a little lower than other options.
What’s the best way to sell gold for cash?
While there are certainly reputable local jewellers out there who can give you an honest gold resale price for your jewellery, coins, bullion, or other item, selling your gold online with a reputable company is beneficial because:
- It’s much more convenient than driving to local businesses.
- As online businesses serve customers nationally, there are more reviews and national certification and verification services like the Better Business Bureau to instil credibility and trust.
- CashforGoldUSA has an online calculator that will help you understand the offer before you even send in your item.
Is It Better to Sell Gold in A Pawn Shop?
Pawn shops are great for quick cash. Most of the time, they offer better prices than other offline stores, especially chain pawn shops.
The main advantage of pawn shops over online buyers is time. If you sell your gold at a pawn shop, you can get it over with in 10 minutes or maybe a little more if you visit some of them and pick the best deal.
However, instead of going to a pawn shop, local jewellery store, gold exchange, or gold-for-gold location near you, consider online gold buyers. These websites are in a strong position to offer high prices because they don’t have the expensive retail store overhead and the competitiveness of the internet is motivating to cut their fees.
Plus, you’ll enjoy the convenience and security of not leaving your home, and in the case of our recommended gold buyer, a 100% guaranteed maximum price.
Selling gold is a great way to make extra cash quickly. Also, with many valuation tools and buyers available, it is relatively easy to get the best money possible especially if you know how to and places to sell your gold online.
If you get different quotes and keep an eye on the gold market, you can make even more money.
If you’re in a hurry to get cash for your gold, there are always a variety of offline options available.
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