How to Sell Gold in MA
If you have gold you want to sell in Massachusetts, you’ll find no shortage of buyers. That’s true whether you have collectible coins, bullion, gold scrap, or raw (unrefined) gold. You can sell your gold by auctioning it on eBay or selling it elsewhere on the Internet. However, you may be among the many people who prefer to deal in person with a local buyer. If this describes you, this article tells you the steps to take to sell gold in Massachusetts, along with suggestions on firms you can contact.
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Instructions
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Estimate the value of the gold you want to sell. For gold bullion (bars and investment coins), you just need to check the daily spot price of gold on world markets. Collectible coins are a little more difficult, since each coin has its own price depending on its rarity and condition. You will find links at the end of this article to check the value of both types of gold. Raw or scrap gold normally have to be tested in order to set a price. However, if you have an idea of the purity of your gold, you can weigh it and make a rough estimate of its value.
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Find a dealer to whom you can sell gold in Massachusetts if you have bullion or collectible coins. Most dealers buy and sell both gold bullion and collectible coins, and Massachusetts has plenty of them. In Boston, you can try the Colonial Trading Company (617-695-1652) or J.J. Teaparty (617-482-2398). In Weymouth, Del Greco coins (781-337-5069) handles both bullion and rare coins and, in Springfield, you can try The Coin Exchange, Inc. (413-732-7839).
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Contact a processing company if you have scrap or raw gold you want to sell. Gilbert and Rhodes (1-800-343-1196) in Attleboro is one of several companies that buy and processes unrefined and scrap gold.
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Call ahead and find out the buyer’s policies. Some dealers will give you an estimate over the phone, which will let you do a little comparison shopping. You also should find out if the dealer sets appointments to purchase gold. This is often the case, especially for larger amounts of gold or rare coins that must be individually inspected and priced.
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Be sure to keep complete records of your transactions when you sell gold in Massachusetts. This is especially important if you’ve realized a profit on your investment, since you will have to declare it on your tax return.
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