Selling your precious metals is a big decision that can affect your financial future. Having the right information about where and how to sell is crucial for getting the best value when you do decide to cash in on your investment.
The primary factors to consider when selling your sell gold and silver are price, convenience, and safety. Here are some tips about each of these:
When you’re ready to sell, you should first get an idea of the current market value of your bullion. This is called the “spot price,” and it is the market rate for gold and silver per troy ounce, which is equivalent to 31.1 grams. There are several online resources that can help you determine the current value of your gold and silver, including a spot price calculator and a gold/silver valuation tool.
Maximizing Your Profits: The Ultimate Guide to Selling Gold and Silver
Next, you should find a reputable bullion dealer to work with. Those with a long history of customer service and trust will put their reputation on the line when it comes to making a fair offer for your precious metals.
A reputable dealer will also have professional evaluators who can provide you with an accurate, fair, and thorough appraisal of your items. They can explain the resale value of your pieces, and walk you through the entire process from start to finish.
Pawn shops are often cited as the place to go for selling your gold and silver, but these types of buyers typically pay far below what a reputable bullion dealer would give you. Plus, they don’t always recognize the true market value of your items.