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Transform Your Gold into Instant Funds

18th July 2023 Print
Gold rings

If you’re in need of fast cash — whether it’s to pay for an unexpected bill, to go towards purchasing a large item, or simply to supplement your everyday budget — you may be considering cashing in on your gold.

Gold assets come in several different forms. You might have gold bullion or coins you invested in some time ago. You might have gold items that hold a sentimental attachment, like heirloom jewelry or an inherited coin collection. You may even be holding on to gold jewelry that’s fallen out of fashion, or jewelry that’s broken or damaged. No matter what, you’ll want to get the highest cash return for your gold, and in good time.

However, if you're unfamiliar with the process, trying to sell gold can leave you uncertain about the best course of action. Fortunately, you can get the best cash for gold by following just a few simple steps.

Look for a Specialized Store

There are many options for selling your gold. You’ll have no doubt seen the flashy adverts pop up online, the punchy posters in pawn shop windows, and the ostentatious ads on television.

While a pawn shop can offer you on-the-spot money, most of these stores offer a wide range of services and deal with a huge variety of items. For this reason, you'll unlikely find a pawn store that will understand the intricacies of buying gold. Consequentially, they’ll be unable to offer you the best price.

Instead, look for a buyer that exclusively deals in precious metals and has a qualified and licensed team of appraisers of jewelry and precious metals onsite. Look for buyers with many years in the industry and with marks of good service, such as positive customer and dealer reviews and relations. They should boast security, free appraisals, price transparency and insurance coverage for shipped transactions. You should never feel pressured into making the sale — however dire your need for cash. And lastly, but most importantly, in this case, they should be able to provide you with instant funds for the full value of your items.

While this may seem like a heady list, know it's absolutely doable to find a specialized buyer who ticks each of these boxes.

Trust Your Instincts

Yes, many stores can offer you cash on the spot. However, if you feel rushed or pressured or are not convinced that you're getting the best price for your gold, you're probably not — trust your instincts. While time sensitivity is essential, so is not being taken advantage of.

As mentioned above, a trustworthy dealer who prizes transparency won't rush a deal or make you feel pressured. This is of utmost importance financially but also when selling items with sentimental value.

Shop Around

This all depends on your location, of course, but if you're in a major city, there are likely multiple precious metal specialists near you. Don’t take the first price you’re given; get several prices that carry no commitment from each buyer. Doing this will empower you with the knowledge to get the best price for your gold.

The Takeaway

Selling your gold and transforming it into instant funds is a relatively straightforward process. All you have to do is look for a reputable buyer online, speak with them in person, and compare prices. That way, you’re setting yourself up for a successful transaction and a positive relationship for your future gold-selling needs.

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Gold rings