Where can I sell my gold and get the most for it?

 

As the gold price continues its upward climb, many are wondering what their scrap gold is worth and where they can find a good gold buyer that will pay them handsomely for it. Scrap gold is any broken or unwanted piece of gold jewelry that the owner doesn't wear anymore.

For example, yellow gold necklaces have a tendency to get twisted until they can't be worn anymore. Many women have lost a mate to their earring set, causing them to throw the set in the back of the drawer and forget about it.

As gold continues its upward climb with no signs of retreat, men and women alike are beginning to realize there are many gold buyers out there who will pay a lot of money for their scrap gold.

So you have some scrap gold but you're looking for a gold buyer you can trust to pay you the maximum amount of cash for your gold. Continue reading to learn more about different gold buyers along with some insights into which one is better.

Local Pawn Shops or Jewelry Stores

One way you can sell your gold is through a local pawn shop or jewelry store, which is the first line for many gold buyers. They buy and sell gold jewelry to pay the expenses of having a storefront in town.

Pawn shops and jewelry stores often sell the gold they buy to another scrap gold buyer, who then turns around and sell it to a refinery to be melted down. Since the scrap gold is passed from one buyer to another, you will not receive the highest cash value for your scrap gold.

It's no surprise that men and women differ on pawn shops or jewelry stores to sell their unwanted jewelry. Men may not have a problem with going into one of these shops to sell but many women do. It is a fact many women are not comfortable going to a pawn shop or jewelry store to sell their scrap gold.

Mail-In Gold Buyers

Anyone watching TV these days has probably seen these fly-by-night gold buyer operations asking the general public to mail in their scrap gold. It's hard to imagine how anyone would feel comfortable with this option. The thought of mailing your valuable possessions to an unknown gold buyer is perplexing enough – expecting a high cash value is very unrealistic too.

Here's how they basically work – you obtain a packet from the company and mail in your scrap jewelry. After the company receives and examines your jewelry, they send you a check in the mail.

Some of these companies are currently under investigation for paying lower than other gold buyers. Some with commercials on TV are even facing lawsuits for their business practices.

There are also gold buying events at hotels, a similar system as mail-in companies except they are face-to-face. A gold buyer will advertise in the newspaper and tell potential sellers they will be in the area soon. Events such as these usually occur on the weekends.

Cash for Gold Party

Gold parties are very popular and interesting events that offer gold buyers a completely different way to connect with potential sellers. Gold buyers go directly to sellers at a two-hour party organized by a host, who invites friends, family and co-workers to the party.

Representatives from the gold party company analyze what each seller has and offers cash or a check. At the end of the party, the host gets a percentage of the sales – usually around 10%. The philosophy of a gold party is everyone makes money and has fun in the process. A host can usually make anywhere from $200-$1000 from one gold party.

Everyone benefits at a gold party – the gold party company helps the host by making their service available. The host helps their friends by having the party. And the gold party company benefits because there is a group of potential sellers at the gold party.

Gold party companies are considered to be more like a wholesale scrap gold buyer. They cut out the middle person (pawn shops) and go directly to the seller. They also work closely with gold refiners if not directly for them. These companies claim to offer better prices because they have less overhead (i.e. no storefront) and they claim their connections within the industry allow them to pay the highest prices.

These companies' approach of doing business in the privacy of a home is appealing to many people. Many women find them appealing because they are with friends and family at their house. There is less pressure and the overall experience is more enjoyable for them.

Since most gold party companies do not advertise on TV, many companies offer referral bonuses to clients who refer their service.

In the end, it's the sole responsibility of the seller to determine which type of gold buyer is best for them. Some answers to these questions are simple with a little common sense. If a potential seller knows anybody who can vouch for a company based on experience, it may be one to consider. Other questions such as pricing can become tricky and may require more research.

Either way, we are all fortunate to live in a country where businesses can provide a variety of services to their customers. The seller has the liberty of choosing whichever company they are most comfortable with when selling their scrap gold.

This trend of buying and selling gold doesn't seem to be slowing down. However, nothing lasts forever so enjoy the experience of turning scrap gold into cash money while you can.

Therefore, we invite you to consider hosting a cash for gold party through American Gold Parties. You and your friends will undoubtedly feel comfortable selling your unwanted gold jewelry in a home setting – and receive the highest possible prices as well!