Buy & Sell Gold

Buying and Selling Gold

buy and sell gold

Gold has been a universal currency of choice for thousands of years and even today there are many people that buy and sell it as sizeable portion of their financial portfolio. Gold has been at record levels since 2008, though values have moderately declined over the last two years. Still those that actively seek to buy gold as a savings metal are usually not worried about short term price volatility. If you are in the market to buy or sell gold there are a few things you need to consider prior to selecting a store, internet company or broker: What is the reputation of the business; how do they set their prices and what methods do they use to test gold that does not have an assay value on it.

Turn on the TV, look online or just walk down the street and you are likely to be bombarded by advertising proclaiming cash for gold. Some of these buyers are long standing well respected businesses and others can be fly-by-night operations. Before you sell off your old necklaces and rings, take a few minutes to do an internet search and find out what others have had to say about them. If you are planning to buy gold from one of these businesses, it is even more important to ensure that they are a reputable source.

When you are choosing which business to select for either buying or selling gold, having some background on how the precious metal business works and what the current market for gold is like, is essential. This information is easily found on the internet, on many reliable sites. Most sellers will add a 15% mark up on the market cost and when selling gold most buyers can will add 15% to 20% over the current assay price.

When someone is considering to sell some of the gold sitting around their house, one issue that often stops people is that some of the stuff they would like to sell no longer has the carat weight of the gold on the ring or bracelet. Most gold buyers can conduct some simple tests using acids and other materials to test whatever you bring in to find its carat weight.

In summary
  • Most gold buyers can test your gold to find out how much it is worth.
  • Make sure that you check out a business online prior to using them to buy or sell gold.
  • Know what the current gold market is like prior to setting foot in a business.
  • Many dealers will buy other precious metals like silver.