Other ways to sell gold for CashOnline gold buyers, local gold buyers, local cash for gold companies, pawn shops, coin dealers, jewelry stores, antique stores and gold recyclers. Many pawn shops buy gold jewelry, coins and ingots. Selling locally to a pawn shop is an easy way to sell your gold for cash quickly. However, you'll almost always get a lower price than if you sold to a reputable online gold buyer.
If you're looking for an alternative to selling your gold for cash, you can also set up a Gold IRA. Setting up a Gold IRA is a great way to diversify your retirement portfolio and protect your savings from inflation. For gold jewelry that doesn't have any brand names, such as most engagement rings, earrings, bracelets and other gold items, you'll get the best prices if you sell it to an online gold buyer, such as Abe Mor. We'll explain this in more detail below, with information on how you can roughly determine the total amount of pure gold in several common gold items. As with other commodities, the price of gold changes frequently, so it's important to check the most recent rates if you want to buy or sell gold.
Generally, if you sell gold online, you'll get the best price, although you'll have to send your gold items to the buyer for evaluation (most will provide prepaid email) and wait 24 to 48 hours after the appraisal to receive payment. For example, a gold Rolex Day-Date, which is made of 18-carat gold, contains about 51 grams of pure gold. While a regular gold ring is sold based on its value in scrap gold, an item such as a gold wristwatch or branded gold bracelet from a popular fashion house usually has much more value in its finished form than as scrap gold. We've also detailed the most common mistakes to avoid when selling gold, as well as the pros and cons of selling gold online instead of doing so locally through a pawn shop, jewelry store, or other type of gold buyer.
If you want to sell this type of gold (for example, a gold wedding ring), the price you will get in return will be based on the pure gold content that can be extracted from the item once it has been melted and refined. If you have gold jewelry, coins, ingots, or any other type of gold that you want to sell as soon as possible for cash, selling it online will almost always allow you to get the best price. Unlike most stores, which pay approximately 50 cents for every dollar of scrap gold, Abe Mor usually offers up to 75 percent of the scrap value of gold jewelry. If you've ever visited a website about gold prices or buying gold, you've probably seen the term “gold spot price”.
However, sometimes, out of necessity, advice or other factors, gold owners consider it appropriate to take advantage of this precious metal that they physically own.