The Modern Gold Rush

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Today’s contributed post talks about gold and how it could be a little hidden treasure in your house. Here’s how to make the most of it!

If you have some gold stored in the house somewhere, it may have crossed your mind to sell it on and get some cash back for it. Gold is one of the most valuable metals in the world, and because of this you can get a staggering value for only a gram of this precious metal. The question you will ask yourself if how much is your gold actually worth?

Once you weigh the pieces and come up with a figure you may be itching to get it sold right away, but make sure that your gold is actually worth the amount you think it is first…

1. Consider the best time

Like everything in the world, values will change depending on the supply and demand you see in the real world. If supply goes up and demand decreases, your gold will be worth less, which means you should wait it out until the value goes up again. Due to the nature of gold as a jewellery piece, it will go out of the fashion and in fashion through the years. Wait until the trends call for gold again and you will see the demand fly up, meaning the gold is worth more and ready for you to sell.

2. Don’t rush

It might be tempting to call up the first company who will buy gold bars, coins and jewellery for money: but wait it out. If you rush and jump in at the first hurdle you may lose out on the true value of the gold you have. Rather than going to a cash for gold company, go to a specialist such as a pawnbroker who will give you a much better price for your gold, as they will also take into account the value of the item itself.

3. Get it valued

The only way you will be able to get the best price for your old gold is by already knowing what it is worth. You can get a valuation done at any high street jeweller and this will give you a ballpark figure to aim for when looking for the right price. It means you won’t be tempted by offers which seem good, but which aren’t anywhere near the real value of your gold.

4. Haggle

You might think that haggling

is only something that people on the apprentice can get away with, but you are well within your rights to haggle if you are selling a valuable item yourself. If someone offers you a low value for your gold, counter it with a higher value and make sure you have a minimum number you are willing to drop to. This will make it easier and keep you safe if you do manage to haggle a deal. You won’t be ripped off.

5. Sell gold online

Sometimes going online is the easiest way to make some cash, and it is no different when it comes to gold. Rather than running from store to store to get the best price for your gold, simply visit eBay or a similar site and sell your gold on there.

Until next time,

Learn how to invest!

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