Things You'll Need:
- Gold
- Buyers
- Gold test kit
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Step 1
Buy Gold. You need to buy gold at a price that is significantly lower than the market price so you can make money when you sell it. There are several ways to buy gold this way. The first one is to advertise that you buy gold. People will want to sell you their broken jewelry, old jewelry, and the like. This is fine as long as it is real gold. You can test the gold with a kit and know for sure. Weight the gold to know what you will offer and most of the time if you have cash the gold will be yours!
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Step 2
Find Buyers. Finding buyers for your gold that are willing to pay more than what you have invested takes a little bit of time and effort. But once you have a couple of good buyers you will continue working with them long term. The best place to start is in the New York gold district. Many of these gold stores will allow you to mail the gold in and they will send you a check. If you are on Long Island though you can just take a taxi over!
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Step 3
Sell gold when prices are up. This may be hard to do, but you need to follow the price of gold and see when the prices are going up. You want to sell your gold as the prices rise so you get a better price. If you sell while the price is low you won't make as much or you may not even break even. Always hold on to the gold until prices go up and you can get what you deserve.
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Step 4
Buy gold when prices are down. Alternatively, you want to buy gold when prices are down. The more you can make from a gold sale the better so you have to be smart about when you buy and when you sell.
Comments
alicat3924 said
on 3/11/2009 I saw this article and went to both locations to have my old jewelry appraised to sell. The Nassau Buyers place offered me ALOT more than the Antique Workshop and they were MUCH MUCH friendlier! They are in the business of only buying gold so they were very knowledgeable, not just a place buying gold on the side. They answered all my questions and I am so glad I saw this article and went there!!
soccermom11 said
on 3/2/2009 I went to this place in hicksville called NASSAU BUYERS ..they paid the highest price i went to that antique place and they offered me $400 for someting nassau buyers offered me $860 for... it was a few scrap gold earrings and old class rings..I would defintely reccomend nassau buyers to everyone ... www.NASSAUBUYERS.com is their website... im so happy i shopped there...
justins said
on 2/27/2009 Shop around before selling your gold. I went to 3 different places and ended up at Antique Workshop. They paid the most by far.