What You Need To Know Before You Sell Your Gold

You can’t go anywhere these days without hearing about what a great time it is to sell your gold. With the economy still struggling, more and more people are selling their gold for cash. And it’s true that at around $1,700 an ounce, gold prices are near record highs. But you need to be careful when selling your gold.

At West Seattle Coins and Bellevue Rare Coins, our certified numismatists have been evaluating gold since 1979. And we talk to people interested in selling gold every day.

Here are some simple tips you should consider before selling your gold to a gold buyer:

– Know who you’re dealing with. It’s sad but true that there are some disreputable gold buyers out there. Do your research before selling your gold. You can read reviews online and also go to the Better Business Bureauwebsite to check on the buyer’s reputation.

– Stay away from gold buyers with no phone number. You always want to be able to talk to someone if you have questions. When a business doesn’t list a phone number, you may have a harder time tracking someone down if you have a problem.

– Watch out for just opened shops. In the current economic climate, more and more gold-buying businesses are popping up. Many of these are legitimate enterprises, but they’re often just middlemen who will offer you a lower price because they’re just going to turn around and sell you gold again to someone else. It’s safer to sell your gold to a business that’s been around for a while — and you’ll often get a better price if you avoid the middleman.

– Don’t pay too many fees. Disreputable gold buyers will often offer a high price for your gold, but then add on a bunch of dubious fees (for “handling” or “processing”) to reduce the amount of cash you get.

– Avoid businesses with no return policy. If you don’t like a buyer’s offer, you should always be able to go elsewhere for another appraisal. If a gold buyer doesn’t make it easy for you to turn down their offer, watch out.

– Be safe. And remember that it’s always safer to sell your gold in person rather than through the mail. That’s the best way to get an accurate and honest appraisal.

The bottom line is that there’s rarely been a better time to sell your gold, but it’s important to get some trusted, expert advice before you sell. So come see the experts at West Seattle Coins and Bellevue Rare Coins in West Seattle, Bellevue and Lynnwood. We’ll give you a free evaluation with no pressure to sell. Read more about how the appraisal process works at West Seattle Coins and Bellevue Rare Coins website.

-Chris McCann

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