How to Sell Gold in Orlando, Florida

There are plenty of buyers for your gold in Orlando, Florida, making it very easy to sell your gold.The trick is not in selling your gold in Orlando--the challenge is in getting the best price when you do sell.Keep in mind that the price of gold changes from hour to hour. Also understand that no buyer will pay you the full spot price of gold on the open market because each buyer must be able to make a profit off of the gold they are buying from you.Therefore, the only way to know which buyer is offering you the best price is to know what each buyer's discount is off of the current price for spot gold on the open market. In other words, you need to know which buyer will pay the highest percentage of the current market price.

Things You'll Need

• Telephone
• Internet Connection
• Business Section of Local Newspaper
• Scale
• Magnifying Glass
• Calculator

Instructions

How to sell Gold in Orlando, Florida

1. Determine the purity of the gold you are selling. Pure gold is 24 karat. A great deal of gold jewelery is 14 karat rather than 24 karat. 14 karat gold is 14 parts pure gold and 10 parts a base metal. 10 ounces of 14 karat gold only has 5.833 ounces of pure gold.If you are selling gold coins, such as American Eagles or Canadian Maple Leafs or South African Krugerrands then the purity of the gold is guaranteed. Likewise, if you are selling gold bullion the purity and weight of each bar will be stamped on the bar by the mint.If selling dental gold ask a local dentist what purity of gold is used in fillings.

2. Weigh your gold and determine how many ounces of pure (24 karat) gold you have.

3. Look in the business section of your local Orlando newspaper and find out what the current spot price of gold is on the open market. Use your calculator to multiply the number of ounces of pure gold you are selling by the current spot price per ounce. While this gives you a good approximation of how much your gold is worth, keep in mind that the price of gold changes on an hourly basis and that no buyer will pay you the full spot price.

4. Contact local coin shops, jewelry stores and bullion delaers and ask each what percentage of the spot price of gold they are paying for the type of gold you are selling. Knowing the percentage of the spot price that buyers are willing to pay is the only way to accurately compare prices among buyers.Here in the Orlando area there are several places to sell your gold. Click on the Additional Resources link below to see several of the biggest buyers of gold here in Orlando.

5. Enter the words "sell gold" into any search engine. Contact several on-line buyers and ask each what percentage of the current spot price of gold they are paying for the type and amount of gold you are selling.

6. Compare prices locally and on-line. The buyer who is paying the highest percentage of the current spot price for gold is the buyer who is offering you the most for your gold. Make your deal.

Tips & Warnings

• Do not sell your gold at a "gold party." Prices paid at gold parties are considerably lower than the price you will get if you follow the advice in this article.

• If selling gold to a private party do NOT make the sale at your home. Instead, meet any private buyers at a coin dealer's shop or at your bank.

• If selling to a private buyer do NOT accept any form of check, even a cashier's check or a certified check. Checks are routinely forged in order to bilk sellers out of their untraceable gold. When dealing with a private buyer ONLY accept ALL cash.

Resources

• Read this Article in Spanish
• Here are several possible places to sell your gold right here in Orlando!