How to Sell Your Gold Online

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By Jason Gordon
eHow Contributing Writer

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Gold

Gold, a perennial currency has what many fiat currencies lack - intrinsic value. While the price of gold may rise of fall in a given fiat currency, many experts have shown that gold has a set value whereas fiat currencies like the dollar are prone to inflation. This means that in the long run, the gold price denominated in dollars, yen, or pesos will go up making an investment in gold a great hedge against inflation. After investing in gold by buying gold, the next step is to know ho to make a profit by selling it. This article will tell you how to sell gold online.

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Difficulty: Moderate

Instructions

How to Sell Your Gold Online

Step 1

Use your favorite search engine to find a reputable gold dealer or use the suggested sites listed in "additional resources" at the end of this article.
Step 2

Check the spot price of gold with most trusted financial resource. The spot price is usually quoted per ounce or per 100 grams.
Step 3

If you are trying to sell gold bullion coins or bars (almost 100% gold), simply multiply the spot price by the weight of your gold to find its value. Some gold coins may have varying value based on their gold content and collector interest. If unsure of your coin's gold content or value, research online or in a coin catalog like The Standard Catalog of World Coins.
Step 4

Sell your gold at an auction site like eBay or the online gold broker of your choice. Some sites allow you to sell to individuals in "exchanges." These sites give you a better chance at getting the value you want from your gold rather than dealers who simply give a "one size fits all" price.
Step 5

Read the fine print on cost, commission, and who is expected to pay shipping charges before agreeing on a sale. If selling to an individual buyer, make sure you have the cash in your hand or deposited in your bank account before shipping your gold coins. Ship using a registered and insured service.

Tips & Warnings

Most gold investors only part with their physical gold out of necessity. If you are trying to simply win profits from short term gold investment plays, an easier way to do it would be to invest in gold mining stocks such as GoldCorp or a gold ETF (Exchange Traded Fund) like GLD.

Resources

Comments

aloha22 said

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on 3/22/2009 The best place I have found to sell gold (or silver) online is the Silver and Gold Exchange at http://silverandgoldexchange.com They post what they pay right on their website and it is higher than anyone else I have found.