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Has anyone sold their gold jewelry recently? With the price being so high right now, I’m thinking of selling the ones I never use. Any tips?
Main Post: Has anyone sold their gold jewelry recently? With the price being so high right now, I’m thinking of selling the ones I never use. Any tips?
Top Comment: Keep asking different jewelry stores until you get to 90-93% under spot. Most pawn shops will rip you off.
Is it legal to sell gold for real money ? : wow
Main Post: Is it legal to sell gold for real money ? : wow
Where to sell?
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I have a bracelet that is 89g of 14k gold. I’ve contacted jewelers no interest and the “we buy gold shops” are offering next to nothing. I looked up the spot price of gold but where do I go to get that or close to that or is that it a thing? Apologize for the ignorance :(
Top Comment: r/Pmsforsale
Buying gold is easy, but how about selling it?
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I’m considering buying gold to diversify what I have. Stocks are easy to buy and also to sell through the right price, but how about physical gold, how do you guys do it? Is there a negotiation process with the seller that occurs? Is it like an ebay type of exercise?
Also, I foresee that many answers will be like “don’t sell it” or “why sell?”, and I get that, but it would also be great to get a sense on how the transactions happen as well
Thanks!!
Top Comment: If you post for sale at spot price for local cash in person meeting, you will get buyers. You will also get a lot of spam / scams but just ignore it. Don't accept anything other than cash. Craigslist, FB Marketplace, OfferUp... You'll get a few % above what a dealer would pay you since there's no spread. Just meet at a police station (many have meetup areas specifically for buy/sell under heavy camera surveillance) / in a busy Starbucks. I've never had any issues.
How do you sell your gold bars?
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Hello,
I am new to gold ownership. I was lucky to buy 2 1oz gold bars from Costco a few weeks ago. However, I was wondering how people sell their gold bars later. Thank you in advance!
Top Comment: Head to your nearest pawnshop, tell them you’re not sure if it’s real and you’ll take whatever they give you (just kidding 🤣) Alternatively, research the pricing online, check, eBay sold listings, see what they are selling for on r/pmsforsale , get a couple quotes from competitive local coin shops and take the highest offer
Where do you sell your gold ?
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I’m new to buying/selling gold. Besides selling on Ebay or other similar online sites, what’s your go to for selling your gold ?
Top Comment: I sell on r/pmsforsale it’s a wonderful community and am able to get more than if I went to a coin shop.
What is the best means to sell precious metals and not get screwed?
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Edit: just wanted to say a huge thank you for all the advice. You’ve all been great, and I now know of plenty of options I didn’t have before!
My grandma is 94 years old, suffers from dementia, and I am her power or attorney. She doesn’t have much money remaining, about 6 months left of living expenses, as her caregivers are extremely expensive. I’d like to keep her out of a nursing home as long as possible. In her safety deposit box, we discovered several ounces of gold and platinum, probably close to $40K worth. She also has a lot of jewelry we would be able to sell to continue paying for her care.
I am skeptical though of the places that advertise “WE WILL BUY YOUR GOLD” because I know that those businesses have the incentive to pay you the least amount possible, so they can turn around and sell the metals at a profit. I’d really like to get the most money for them as possible, and I have no idea where I can do that without dealing with a place that seems like a pawn shop type of business model.
Does anyone have any knowledge or experience in this situation that could give some advice?
Top Comment: Do not take it anywhere local. Sell it to a well established refiner like Midwest Refineries. They buy at something like 98 or 99% spot price. I'm a metal detectorist and when MDers need to sell their gold they have found, this is what most people do. Pawn shops or jewelry shops are going to get your metals for as little as possible, they will rip you off. There is a bit of a process... you have to ship it to them and you certainly wany that to be insured. You can give them a call and I'm sure they will walk you through the process. Remember too that they refine the stuff, i.e. melt it down and remove any alloys (other stuff in jewelery that isn't gold) and you get paid for the actual volume of the precious metals.
Is now the time to sell Gold?
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At close to 2k an oz is now the best time to sell or will it go even higher?
Top Comment: I’d sell my wife before I’d sell my gold. You must be in the wrong sub. We just buy.
Selling gold vs holding on to it.
Main Post: Selling gold vs holding on to it.
Top Comment: The amount of downvotes to genuine questions and advice is astounding. There is no way to answer your question particularly but let me put some perspective. Commodities, like gold, have no intrinsic growth attached to them, so they underperform against assets on most time frames. However, commodities tend to have wild variations in price, so it might make sense to hold some for speculative purposes. Gold is a good hedge against the asset exposure if you believe it to be overvalued (as I do). The flip side is that gold is not currently cheap by historical standards, so there is risk. I currently hold gold and would consider selling on a 50% run, otherwise I would keep as a hedge.
Gold bars - buying is straight forward, but how do you sell it ?
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How do people sell and cash out the gold bars they are buying from places like Costco ? Who buys it from these people and how is that rate decided ? What is the process of selling like ? Anyone done this ?
https://www.fastcompany.com/91090313/costco-2000-gold-bars-are-the-new-1-50-hotdog
"The discount club chain has seen its share price jump 46% over the past year on rising sales and a recently boosted dividend. Last summer, it introduced bullion to its familiar sprawling mix of huge jars of mayonnaise, bulk toilet paper, and other jumbo versions of grocery and household staples, selling for around $2,000 per ounce. And a good chunk of its shoppers have taken a shine to it: Wells Fargo recently estimated that Costco may be selling $100 million to $200 million in gold bars a month."
Top Comment: I doubt anyone who buys these gold bars from Costco are getting a fair price when they go to sell it.
Need Advice. What is the best place/way to sell gold coins in US
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I have few that I need to liquidate. I was planning on calling few gold dealers but was not sure if there was a more standard way to go about.
EDIT: many thanks to all. I was able to get 98% of the spot rate from a local dealer and walked out with cash. Thanks again for all the help guys.
Top Comment: apmex.com