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If you're new to the world of selling gold, the process may seem intimidating. How are you supposed to know if you own anything of value? Isn't it a complex market with constantly fluctuating values? While it's true you can make some serious cash by selling your gold to a willing buyer, it’s crucial to know what you're getting into. Coins & Stuff is the High Point, NC, area's oldest and most trusted authority on buying and selling silver and gold, and they have some advice for those looking to profit off their personal treasures.   

What Kind of Gold Can I Sell? 

The best thing about selling gold is the vast potential that lies around your own home. You might not even know the treasures you're living with, from rare coins to antique jewelry. Since buyers typically melt down certain items, you can sell almost anything that contains a quantifiable amount of pure gold. 

On the other hand, some items boast more value before being melted down, especially jewelry from well-known designers. Shop around to get an idea of what you have and how much others are willing to pay for it.

How Is Gold Valued?

selling goldWhen it comes to selling gold, it pays to do your research. That includes knowing what the value of gold is based on and how it's purchased. First, familiarize yourself with karats. Whether you’re selling coins, jewelry, or anything else that includes pure gold, the Federal Trade Commission requires the number of karats to be disclosed. 

Gold items are formed by combining pure gold with various metals for enhanced hue and strength. For a better idea of how the karat system works, consider that a single karat is deemed by weight to be equal to 1/24 of pure gold. Jewelry can't be labeled as "gold" if it falls below 10 karats, so sort your collection accordingly before selling jewelry. 

When selling gold, knowledge is power. Go in with confidence and don't be afraid to ask questions. As long as you're dealing with a reputable buyer, you’re good to go. You'll find the best results when working with the expert dealers at Coins & Stuff, who have been buying and selling at their High Point location since 1980. Visit their website to learn more about their services, or give them a call today at (336) 885-5323.

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