How to Sell Unwanted Gold
There is only one sure way to accurately compare the price being offered for gold from one buyer to another, and that is to know what percentage of the spot price for gold each buyer is willing to pay. The buyer paying the highest percentage of the spot price for gold should give you the most cash for your unwanted gold.
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Instructions
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How to Sell Gold in Milwaukee
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Check the purity of your gold if possible. 24 karat gold is pure gold, while 14 karat gold is 14 parts gold to 10 parts base metal. Jewelry often has a stamp on it indicating the purity of the gold. 10 ounces of 14 karat gold will yield 5.833 ounces of pure gold.
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Find the current price for gold in the business section of your local newspaper. While the price of gold fluctuates on a day-by-day basis, knowing the current price for gold should give you some idea of how much you can expect to receive for selling your old jewelry, dental gold or other scrap gold.
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Call local pawn shops, coin dealers, gold bullion dealers and scrap gold dealers and ask what percentage of the spot price for gold they pay for 24 karat gold. What you are looking for is the buyer that will pay as close to today's spot price for gold as possible.
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Go on-line and find several on-line buyers of gold. Enter the words "selling gold" into any search engine to locate dozens of Internet gold buyers. Locate their "Contact Us" tab and send each site an email asking what their discount is off of the spot price for gold. Again, the buyer that comes the closest to paying the full spot price for gold is going to pay you the most for your unwanted precious metal.
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Compare the prices offered by local buyers as well as Internet buyers. The buyer offering the smallest discount from the spot price of gold will be your best bet.
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Tips & Warnings
Selling your gold at a "Gold Party" can be lots of fun and a nice way to socilaize--but it is generalyy NOT the best way to get the highest price for your unwanted gold.
It is possible to get a good price for your gold from a private party. However, NEVER invite a private party into your home to conduct a transaction. Arrange to meet private buyers at a local coin shop or in the lobby of a local bank.
Insist on a cash payment. Many unscrupulous buyers forge cashier's checks and certified checks making it inadvisable for you to accept anything short of cash for your gold.
