Selling gold is an option for those who need money quickly or for those who tire of seeing old, unworn pieces of jewelry lying around. The price of gold always fluctuates and when you sell your gold you’re going to be offered a rate lower than what the pieces are valued at in order for the purchaser to make a profit. Despite this, selling gold items remains popular. There are many Chicago area gold buyers and if you want to sell your gold in Chicago, here’s how.
1Check the value of gold.
- Before setting out to sell your gold, check a trusted online source to see what the market value of gold is for that day. Realize that you’re not going to get that price when selling your gold but it will give you some idea of its worth.
2Find a reputable dealer.
- There are many companies that buy gold through the mail but these should be avoided as you have no control over the process. Instead, look in your local phone book yellow pages for a jewelry store, jewelry repair store or even pawn shop in your neighborhood. Chances are good that they’ll purchase your gold and at a much better rate if the transaction is in person. You can also find buyers who actually will come to your home, or you can even set up a local party with neighbors and friends. Then earn commissions from the party, as well as selling your gold.
3Get a quotation.
- Take your gold to the dealer and let them look at it and weigh it. They may need to test for the quality of the gold. Ask them for a quotation in writing and be sure that the expiry date of the quotation is evident.
- Visit 1 or 2 other gold purchasers in your Chicago neighborhood and see if they will beat the quotation you received. Ask them for a written quotation with the expiry date clearly printed on it.
- Once you’ve visited 3 or 4 gold purchasers, look at which buyer offered you the most money for your gold. You should sell your gold to that person. Make sure they give you cash for your gold or a bank certified check or money order.