How to Sell Gold in Indianapolis
Selling gold in Indianapolis is easy. The trick isn't in selling your gold--the challenge is finding the buyer who will pay you the highest possible price for your gold.
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Instructions
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How to Sell Gold in Indianapolis
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Determine the purity of the gold you are selling. If selling jewelry use a magnifying glass to find the stamp on your jewelry that details its gold content. 24 karat gold is pure gold with no filler. 14 karat gold is a filled gold, meaning that there are 14 parts of gold to ever y10 parts of non-precious metal. 24 karat gold commands a higher price than 14 karat gold. (10 ounces of 14 karat gold is equivalent to 5.833 ounces of pure gold).
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Look up the price of spot gold in your local newspaper. Somewhere in the business section you will find that day's price for gold, quoted as a price per ounce. Keep in mind that this price varies every day, so the price you end up getting for your gold could reflect a higher or lower spot price on the day you make the transaction---but this should give you a good idea of what to expect.
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Call local pawn shops, coin dealers and bullion companies and ask what their discount is off of the spot price for gold. The price they quote you will be the percentage of the spot price they will pay for 24 karat gold. It is necessary to know what each buyer's discount off of the spot gold price is in order to accurately determine which buyer will pay you the greatest price on the day you sell your gold.
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Contact at least 3 Internet gold buyers. Find their "Contact Us" link and send each site an email asking them what their discount is off the spot price of gold for the type of gold you will be selling.
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Compare all of the offers you have found and sell your gold to the buyer which has the smallest discount off of the current spot price of gold. This should ensure that you get the very best price possible for your gold based on the price of gold on the day you make your sale.
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Tips & Warnings
Gold Parties are becoming a very popular way to sell gold. However, be advised that the prices paid at a gold party are usually considerably less than the prices you can find with just a little searching on-line and locally.
If you are going to sell your gold to a private party do NOT make the transaction in your home. Instead make the transaction at a coin dealer's shop on in the lobby of a bank.
Also, ONLY accept cash as payment for gold. Never, under any circumstances accept a check; even cashier's checks and certified checks are routinely forged on computer these days and are difficult for even a trained bank employee to spot.
