If you’re a newcomer when it comes to selling gold, you may be wondering how to make the most off of your supply. Once you become more familiar with the market, you’ll enjoy greater profits. Some of the basics are explained below.

Selling Gold or Silver? Here’s How to Get the Best Deal

Measure Your Gold Properly

Before bringing your gold anywhere, make sure to separate your pieces by karat—do not allow differing karat values to be weighed together, or a dealer could end up appraising your gold according to the lowest karat value. Also, make sure you know which weight system your dealer enlists to measure gold; for instance, many use the troy ounce, which is approximately 1.097 standard ounces. In other words, a piece of gold weighing 16 standard ounces will weigh a little over 14.5 troy ounces. Make sure your dealer pays you according to the weight system they used to actually measure your gold.

Sell Local

Rather than selling your gold coins online, go to a local dealer. There are several advantages to this, such as not having to wait to get your money—you could have your valuables appraised and sold on the same day. Online dealers will obviously take longer because of shipping, and if they don’t accept your items, they will often expect you to pay for the postage back. Local dealers also offer more accountability; that is, they have more of an incentive to give you a good deal, since your experience could directly affect their reputation. Online dealers, conversely, 

Interested in selling gold coins, jewelry, or other valuables? The premier dealer in Guilford County, NC, is Coins & Stuff, a pawn shop that’s been in business since 1980 and has an A+ rating with the BBB®. Whether you’re a seasoned collector or novice, they’ll give you the best deal in the area. Call (336) 885-5323 for questions about selling gold, or visit their website to learn more about their services.