The Step-By-Step Guide To Selling Your Gold Online
The Step-By-Step Guide To Selling Your Gold Online
Economists are still divided with regard to the state of our economy. Some claim that the signs of recovery are around the corner. Others argue that we’re unlikely to see any recovery for at least twelve months. Meanwhile, the price of gold continues to soar. At the time of writing, it is priced at over $1,000 per ounce, a level that is flirting with historical highs.
Millions of people are now digging through their garages, attics, and dresser drawers to find gold coins, jewelry, and even scrap gold items. They understandably want to take advantage of the recent prices. If you have any gold items that you would like to sell, you can do so easily online. Here are the three steps involved:
Step 1: Calculate The Value
Armed with a simple scale, you can easily calculate the value of your gold pieces. Most refiners and dealers will use pennyweights in determining weight. That means you’ll need to convert ounces into pennyweights (a single ounce equals 20 pennyweights).
You’ll also need to identify the karatage of each item in your possession. For example, you may own gold bracelets and earrings that are 18 kt while one of your necklaces is only 14 kt. Each is priced differently.
Step 2: Identify A Refiner
When selling online, you’ll either work with a refiner or a dealer. It is always to your advantage to work with a refiner. If you sell your gold coins, jewelry, and other scrap to a dealer, they will sell it to a refiner. That means the spread between the price they give you and the price they receive from the refiner is their profit. You’ll receive a much better offer if you skip the middleman and sell your gold directly to the refiner.
Step 3: Mail Your Gold
Each online buyer works a little differently. Ideally, you should be able to visit their website and create a personal account. You’ll be able to download and print a processing form on which you can list each item that you want to sell. Then, simply mail it to them and await their offer.
Many buyers will even send you a postage-paid, insured kit in which you can mail your gold pieces to them. The basic steps are the same. The kit will include a processing form and a zip-lock bag. Simply list each item you’re mailing, include it within the kit, and mail the entire package. You’ll receive an offer through email. It you accept the buyer’s offer, they can usually process a check for you within a single business day. If you decline their offer, they’ll mail your gold items back to you.
Selling your gold jewelry, coins, fillings, and scrap gold online is as easy as calculating its value and finding a buyer (again, always use a refiner rather than a dealer). Once you mail your items and accept the buyer’s offer, you can expect to enjoy your cash windfall within days.
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