How to Sell Gold For Profit

Investing in gold can be a great way to hedge against other investments, especially during a recession. Selling gold for profit is another story, since prices vary depending on where you go. You can either buy or sell actual gold, or you can buy and sell gold futures on the stock market. This article deals with tangible gold selling, including earrings and gold bars.

Difficulty: Easy

Instructions

1. First, remember that not all prices are the same. If you take your gold investments to sell somewhere and they quote you a price you weren't expecting, don't fret. There are plenty of places to sell for a profit.

2. If selling gold bars and not coins, you will have to have the authenticity checked. Markings on gold bars can be hard to read after a while. Earrings as well will need to be checked. Gold dealers can help you with this, before selling your gold.

3. Gold can be sold online with sites like ebay or craigslist. The price will be set by you, which is good. There are also online gold dealers, but the price varies and it can be deceptive with fees.

4. Take your gold to a nearby dealer. You can find dealers online or in the yellow-pages.

5. Take your gold to 2-3 different dealers and get prices. Really, the price you are offered is your only concern. You will also need to report the earnings as capital gains on your tax form, that is unless you are given cash.

Tips & Warnings

• If the price of gold shot up that day, there will be a discrepancy on the price, because the dealer might call it a fluke, so be aware.