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With the price of gold marching to new highs each week, many people are now thinking about selling their gold jewelry and scrap gold. Some people have old watches, broken chains, and out-of-fashion pendants and earrings hidden in their garages. There, they collect dust, all but forgotten by their owners. Other people have kept certain pieces (for example, a gold wedding ring) as keepsakes, even though they hold painful memories.

Now is a good time to bring these items from storage, and evaluate their worth. You’ll find their value is much higher today than it was years ago. This is the reason a lot of people are now selling their gold pieces. They want to lock in the high price before it plummets. We’ll provide a brief list below of the most common places to sell your gold jewelry, and help you choose the best option for your circumstances.

Antique Stores And Consignment Shops

If some of your jewelry is finely crafted with ornate designs, you may be able to sell the pieces to an antique store for a reasonably high price. They may be willing to pay more than the value reflected by the gold content alone.

You can also try consignment shops. Be aware, however, that you’re unlikely to receive money for your pieces until the shop’s customers have purchased them. This could require weeks, if not longer. If you need cash quickly, consignment shops are a less-than-ideal option.

Pawnshops And Jewelry Dealers

A pawnbroker will give you cash immediately if he or she agrees to buy your gold jewelry. The downside is that a pawnshop’s business model requires them to sell their wares cheaply. This means the broker is rarely able to pay a competitive price. The advantage of fast cash is balanced by the drawback of a low offer for your pieces.

Jewelry dealers are similar. If a dealer believes he or she will be able to sell your gold jewelry to others, you’ll receive money immediately. However, the offer will almost always be low.

Private Party Sales

If you have enough patience, you can sell your scrap gold and gold jewelry to a private party. For example, you can sell it by organizing a yard sale; you can sell your pieces through online auctions (e.g. eBay); or you can list your items on CraigsList.

The benefit of this approach is that you’ll receive a higher price for your gold pieces you would by selling them to a pawnbroker or jewelry dealer. The drawback is that it takes time and effort.

Hosted Gold Parties

Gold parties have been popular for years, and make selling your collection convenient and fun. In most cases, they are hosted by a friend or acquaintance. All attendees are encouraged to bring any gold items they would like to sell. A buyer is present at the party who will weigh each item, and assess its value. This person will then make an offer to the item’s owner. If the owner decides to sell, a check for the agreed upon amount is presented to him or her immediately.

The problem with selling your gold pieces at these type of events is that the buyer can only offer a low price. The reason? Because your gold must be sold for a profit after the party. The buyer is a broker.

Online Refiner

For most people, the best option for selling their broken gold chains, bracelets, watches, and other pieces, is to work with an online refiner. Unlike many of the previous choices, a refiner is not a middleman. After they buy your scrap gold, they refine and recycle it back into the jewelry market. Because there is no broker involved in the transaction, they can offer a higher price for your items.

If the recent high price for gold has encouraged you to sell your old, forgotten jewelry, realize you can do so easily online. Work with a reputable, experienced refiner to receive the best possible price.

The best online resource for Money For Gold or Sell Gold Online can be found at refinity.com

Beginning in the early 1970s, following the dismantling of Bretton Woods, the price of gold began to climb. The precious metal enjoyed a breathtaking bull run. By early 1980, the price had skyrocketed to $850, startling investors and hard currency experts. Today, the price per troy ounce hovers even higher (over $1,150 at the time of writing).

It’s worth reviewing why the metal’s price has risen so sharply over the last forty years. Doing so may provide insight into its future trajectory. With this mind, we’ll take a look at the reasons people buy gold. An increase in demand for any limited commodity raises its price; conversely, when people sell, the price plummets.

The Threat Of Inflation

Since the 1970s – when gold was allowed to fluctuate – the metal’s price followed the rate of inflation. This may seem odd at first. After all, why would people buy the metal simply because of rising commodity prices? The reason becomes clearer with a bit of analytical legwork.

Rising prices are believed to be caused by a greater number of dollars in circulation. The more dollars there are in the public’s pocket, the less value each dollar holds. Thus, it takes more dollars to buy the same products.

Many people note the decline in the currency’s value during times of inflation and look for ways to preserve their wealth. These people believe that keeping their liquid assets – checking and savings accounts, money market funds, etc. – in dollars exposes their wealth to the risk of erosion. Gold is considered a safe haven because it is limited. Unlike dollars, it cannot be created arbitrarily.

As people continue to move their wealth into gold, the price of the metal rises due to the increased demand.

Perceived Future Currency Troubles

Because gold is considered a safe haven from a declining currency, those who buy the metal must believe the currency is headed for further trouble. Otherwise, they would “purchase” dollars by selling gold in order to enjoy a rise in the dollar’s value. In a way, the metal’s price per troy ounce is a barometer of the public’s faith in a country’s currency.

So, how can you determine the right time to sell your gold? When will the metal’s price start its descent? That’s impossible to tell with any certainty. However, the U.S. government has promised they intend to reduce the number of dollars in circulation. Were they to do so as promised, the price of gold could be expected to fall (for reasons detailed above).

If you own old gold necklaces, watches, bracelets, or pendants, and have stored them away, now may be the time to consider selling them. When the metal’s price begins to fall in the open market, the value of these items will fall with it.

What To Do When You Decide To Sell

Selling your gold items is simple, though it’s easy to make costly mistakes when doing so. A lot of people take their items to pawnshops and dealers only to be discouraged by the low price they’re offered. Some people will then venture online and end up selling their gold to a broker. There is a much better alternative that will yield a higher payout for you: selling to a refiner.

By dealing directly with a refiner, you’ll remove the broker from the transaction. The broker is merely a middleman who would buy your pieces and sell them to the refiner anyway; he or she profits on the spread between the buy and sell price. By removing this layer, you’ll enjoy a higher price on the gold items you sell.

The price per ounce continues to float near its historic peak. No one knows how long it will remain there. If you have long-forgotten gold chains, earrings, and watches in storage, consider retrieving them and selling them online.

The best online resource for Cash For Gold or to sell jewelry can be found at refinity.com

The biggest challenge to selling your gold online is finding a buyer who will treat you fairly and offer a reasonable price for your pieces. Too often, inexperienced sellers are enticed by brokers who offer less than 50 percent of the prevailing price per troy ounce. There are reputable buyers who will offer much more.

The problem has grown more pronounced recently. The steep rise in the spot price of gold over the last couple of years has attracted thousands of new sellers. Many people, having realized they could sell their broken gold jewelry and other gold items online for cash, have become eager to sell. Below, we’ll offer five helpful suggestions for choosing a trustworthy buyer who will offer a fair and reasonably high price for your scrap gold.

Invest Time To Explore The Buyer’s Website

You might be surprised by what you’ll find posted on many buyers’ websites. Some companies post an implicit agreement that requires you to sell your gold pieces to them once you mail your package to them. This gives them the opportunity to buy your gold bracelets, chains, watches, and other jewelry for an unreasonably low price. This is the mark of an untrustworthy buyer.

Invest the time to explore the website of the company to which you’re considering selling your scrap gold. Look for red flags that indicate potential trouble down the road.

Look For Experience In The Industry

Experience speaks volumes in the gold buying industry. A long track record is the key factor sorely missing from the majority of buyers that have emerged in recent years. This particular attribute, above most others, is indicative of a reliable, fair buyer that has successfully catered to their customers.

Ideally, the company with which you’re working will have at least ten years of hard-won experience in the industry. That suggests their focus is on serving their customers rather than merely turning a quick profit.

Make Sure The Buyer Complies With The Law

Companies that purchase gold, silver, platinum, and palladium are required to comply with certain federal laws. For example, buyers of precious metals must operate in lawful accordance with the Bank Secrecy Act (BSA). The BSA considers gold purchasers to be “financial institutions,” and thus requires them to implement procedures that are consistent with the government’s anti-money laundering program.

Regardless of whether the definition of a financial institution is valid in this regard, all buyers are required to comply. You should avoid selling your pieces to companies that are out of compliance.

Work With A Refiner

One of the most common mistakes first-time sellers make is to neglect to work with a refiner. This has a direct influence on the amount of money you’ll receive for your scrap gold. Instead of working with a refiner, most people unwittingly work with brokers. Brokers are middlemen who add an unnecessary layer of expense. Their income is dependent on paying a low price for your gold earrings, necklaces, and other pieces, and selling those pieces to a refiner for a higher price.

Why not remove the middleman and work directly with a refiner? You’ll enjoy a more reasonable offer for your items.

How Quickly Can The Buyer Send Payment?

A reputable buyer should be willing and able to mail a check to you within a single business day following your acceptance of their offer. There is no reason for a delay. Of course, the time it takes for the U.S. postal service to deliver the check to you is outside the control of every buyer. But putting the check in the mail should require no more than a day.

The best gold buying companies consistently do everything in their power to make sure sellers enjoy a positive experience. This is one of the reasons a long-established track record in the industry is so important for sellers to note.

The best online resource for Cash For Gold or sell jewelry can be found at Refinity.com

While the rest of the commodities in the market have fluctuating prices, that of gold hardly has an erratic price movement. This is the reason why it remains to be the best thing to trade. Traders have, in fact, made it a point to seek places to buy it. Once you meet them, you can just sell gold to their representative quite easily.

Of course, you cannot expect this people to roam around the neighborhood seek out those who are partial to selling gold. If you want to sell scrap gold, you may have to make some effort in locating their buying stations first. This means that you have to spend time and money first before you earn bigger bucks.

Nowadays, you can have the better option of making money out of selling gold. This is by holding a gold party in your home. You can also have it at another appropriate venue that can still provide you enough privacy. This method is actually the more enjoyable way to have your gold items appraised and sold.

Of course, to make your gold party fun, you need to invite as many friends as you can. You will have to make sure that these are friends who can actually join the activities that are held in gold parties. This means that they have bring with them pieces of golden jewelry too. Otherwise, they will find themselves out of place.

This event cannot succeed without a gold party expert. He needs to be there before the first guest arrives so that he can arrange his equipment and tools. As the party proceeds, guest can have him evaluate their jewelry of gold. When this is done, they can have the option sell gold.

However, you must make sure that all the trading that occurs during the party will not spoil the fun instead. Gold parties may involve buying, selling, and lots of haggling for better prices but these should make the entire affair more enjoyable. It should not lead to frayed nerves because of emotional negotiations.

Even while you sell gold in the duration of the party, you also get the chance to become several dollars richer. Sometimes, jewelry without sentimental value is best appreciated that way. Your friends attending the party can share the same luck if they allow themselves to sell scrap gold the way it is performed in gold parties.

Gold parties may still be a novelty to many people. This is why it is understandable if you have doubts about this. You may need to talk with a firm that masters this activity. By consulting them, you will certainly learn more about this activity that allows you to mix pleasure with business the moment you sell gold.

The author has been selling gold and instructing others to sell gold for several years. By learning how to sell gold through rarer ways like hosting gold parties, selling by mail, or selling scrap gold, you can actually make more cash. Get to know about the best practices and get rich from your old or scrap gold.

Most people already know that the current price for gold has gone way up. This makes it the most opportune time to sell gold you have had stashed away in your jewelry box for years. Getting ride of it now can possibly bring you a lot of much needed money.

Many individuals find it to be a headache when it comes down to locating a good place to sell their gold. Not knowing a lot about this type of process can make you a bit reluctant to go mailing off gold items to a business hundreds of miles away.

Many people might now be thinking that just taking your gold items to a local shop would be the best thing to do. However, since these places are in it for resale they won’t give you nearly as much money as your gold is really worth. By cutting out the middle man and selling straight to the refiners you are able to get more money and do it more securely for what you have to offer them.

Going online to sell your gold is a good way to find yourself getting a large check in the mail. The refiners we referred to above offer the top prices for gold. They also buy silver and platinum as well. They base the amount paid out on how much your items are actually worth, this nets you a bigger profit.

Before jumping right in and sending your gold to just any online company, you first need to locate one you can have faith in. Make sure the company you choose has a good status and has been around for a while. The longer a business has been in the gold buying business, the better the service usually is.

The way this whole process works is very easy to understand. You go to the website of the company you choose and request one of their shipping envelopes. When it arrives you drop your gold inside and mail it back to the company. Don’t worry, postage is usually covered. Once your gold is received it is evaluated and a check is printed in the amount the refiner is willing to pay. They mail this check to you and you are done. Some companies are now also doing Paypal transaction meaning you get your money even faster.

Now would be a good time to sell any unwanted gold pieces that you have. A lot of companies are beginning to advertising their search for gold so you have a lot of different ones to choose from. For even more money you can choose to sell to a company that is offering a bonus as well. This can sometimes be up to 20% more than what you would normally get.

Do you have questions about how tosell gold? Visit Andres Fine Jewelers us today and for more information on how selling gold can help in tough economic times!