How to Sell Gold Today
As of April 2011, the gold rate is $1,474 per ounce, up almost 30 percent from a year ago, which makes selling gold a profitable venture for those who have a large stock of it at home. Many types of gold -- including jewelry, coins and ingots -- can be sold at gold brokers who will melt the metal down. The payment will vary depending on the gold rate, which changes daily. The broker will also take a handling fee as well as a percentage.
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Instructions
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Watch the gold rate. You will want to sell your gold when the rate is at its highest to maximize your profit. Goldprice.org has a useful chart of the current gold rate that is updated hourly. Another useful tool is the list of historic gold rates, which can help you determine yearly trends in rate changes.
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Gather your gold. The best candidates for selling by weight are jewelry that is broken, unwanted or out-of-date and gold fillings or dental crowns.
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Find a gold broker in your area. They are usually listed as "gold dealers" or "scrap gold dealers" in the phone book. Some pawn shops will also buy gold by weight.
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Bring your gold to the broker. He will melt it down before weighing it and charge a handling fee as well as a percentage of the final total.
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Tips & Warnings
Have your coins and unbroken jewelry appraised by a coin dealer or jeweler before bringing them to a gold broker.
Precious stones will need to be removed before taken to a gold broker.
The whole weight may differ greatly from the melted weight since impurities and other metals will be filtered out.
Lower-karat gold will have a lower dollar rate.
References
Resources
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