We’ve posted a few articles on selling gold recently, these have largely been prompted by the rise of both the postal gold firms and high-street gold buyers, which themselves have grown thanks to the rising price in gold (indeed, gold prices have reached its highest ever level this week).
The general concesus, based on a few bad experiences, is that selling your gold through the post is rarely the best option – both the price you’ll get for your gold and the customer experience leaves a lot to be desired.
So what is the best way to sell your gold?
MoneyWeek has a couple of options; host a “gold party”, or visit your local jeweller.
The gold party is a novel idea – get together a group of your friends who want to get rid of their unwanted gold items, a gold expert will also come along to value your items and will pay you by cheque, there and then, shold you decide to accept their offer. As the party host, you can also earn some commission on the total value of the gold, which might actually be worth more than any gold you decide to sell. But how many friends do you know with gold they want to sell?
The other alternative is to visit a local jeweller. There’s a chance they’ll pay you a little more than the postal services and via the party option, as they might actually take into account the age and design of the item, not just the weight and purity of the gold, which is what these other services will value your gold on.
photo credit: BullionVault
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