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How to Sell Your Gold & Gold Jewelry for Cash

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How to Sell Your Gold and Silver Jewelry?

Your jewelry box might be overflowing with gold bracelets and gold necklaces, or you might have collected scrap gold (such as dental gold or broken jewelry) over the years. You might have even gotten interested in investing at some point or another and purchased gold bullion or gold bars. The reason why you want to sell gold doesn’t really matter. Regardless, you’re probably hoping for an easy process, and you’re also probably hoping to get the best price for your unwanted gold. At Greenbrier Pawn Shop, we have years of experience in the industry. This guide can help you learn a little more about selling gold and can help you have the best experience, whether you’re looking to sell dental scrap or a couple of gold necklaces, or if you have a lot of gold that you want to get rid of.

Why Would I Want to Sell My Gold?

As you probably already know, gold is a precious metal. Because of this, you might not be sure of whether or not you want to part with it. There are actually many reasons why people decide to sell their gold, however.

  • Make a profit off of an old investment. At some point, you might have heard that gold is a good investment and might have decided to buy gold bullion or bars. If so, you might have done so hoping you could sell it for more than you paid for it at some point. If you’ve been waiting for this day, the time might be now. Gold has been at some of its highest prices lately.

  • Get rid of jewelry that you don’t wear. You might have inherited gold jewelry that isn’t really your style. Your style might have changed over the years, and jewelry that you bought from your local jeweler simply might not interest you anymore. There’s no reason to hang on to old jewelry that you don’t like or probably will not wear when you can sell it.

  • Put much-needed cash in your pocket. If times are hard and you’re looking for ways to come up with some much-needed cash, selling some of your gold might be a good solution. You may want to look through your home for any dental scrap, broken jewelry, or other physical gold that you can sell. This could just be the perfect way to get yourself out of a financial crisis, and you can do so without having to rack up charges on your credit card or take out a payday loan.

  • Get rid of old coins. Many coins are made with at least some gold content. If you have unwanted gold coins in your collection, selling them is a great way to deal with them while getting some express gold cash at the same time.

Who Can I Sell My Gold To?

You might be sold on the idea of getting rid of your gold, but you might not know who to sell it to. You have a few options, and you’ll want to compare them. Doing a little research can help you get a higher offer for your gold based on the current price of gold.

Online Buyers

You might have come across professional gold buyers who operate online. This can be a convenient way to sell gold, particularly if you want to avoid a trip to a local store or if you don’t have any gold buyers near you.

 

Although online buyers are often convenient to work with, you do have to watch out for scams. Be sure you’re working with a reputable gold buyer. You also have to wait for your gold to be sent through the mail before you’ll be given an offer, and you may have to pay for the return shipping of your gold if you don’t like the offer you’re given. It’s important to read the fine print before working with an online buyer so you know what to expect.

 

Pawn Shops

One of the best ways to sell gold is to work with a local pawn shop, such as Greenbrier Pawn here in Chesapeake. You’ll be able to visit a local store, so you don’t have to worry about scams, long wait times, shipping costs, or the possibility of your gold being lost in the mail. All of this should give you peace of mind.

 

You’ll get paid cash the same day when you sell gold to Greenbrier Pawn. We have years of experience and can properly value your gold. We’ll strive to give you the best offer based on the specific gold items that you have and the current market value of gold.

 

Additionally, you might like selling to a pawn shop because we purchase other items in addition to gold. If you have silver bullion, diamond jewelry, rare coins, silver coins, or other items of value, you can bring them to us to get a cash offer on the spot.

 

Lastly, there is one unique advantage of visiting a pawn shop. You could be thinking about selling your gold because you’ve found yourself in a financial bind. You might not actually want to permanently get rid of your gold, but you might feel as if you don’t have a choice. With Greenbrier Pawn, however, you can actually get cash today without having to give up your gold forever. Just ask us about one of your pawn shop loans, and use your gold as collateral. When you repay your loan by the due date, you’ll get your gold back.

 

If you happen to be in Virginia Beach and want to sell gold or silver, Hilltop Pawn Shop and Jewelry buys gold and silver as well. It’s our sister store so you’ll be in good hands.

 

Coin Dealers

If you have rare coins, working with a coin dealer in particular is an option. These dealers might not purchase other gold items or other items of value, so be prepared for this if you have a variety of types of gold that you want to sell. However, a coin dealer might be interested in purchasing your old coins even if they aren’t made of gold. Luckily, you don’t have to sell your coins to a coin dealer in particular; you can sell them to pawn shops like Greenbrier Pawn, too.

Is My Gold Eligible to Be Sold?

As someone who isn’t familiar with the process of selling gold, you could be wondering if you can actually sell the gold that you have. Of course, this depends on who you sell to. If you visit a coin dealer, for example, they might only be interested in buying gold if it’s in the form of gold coins; they might not purchase your dental scrap or wedding ring.

 

If you visit Greenbrier Pawn, however, there’s a good chance your gold is eligible to be sold. We’ll verify it to make sure it’s real, determine its gold content, and weigh it. We will also check your ID before purchasing, but that’s all you have to worry about. It isn’t a problem if the jewelry is broken or tarnished, for example, and it doesn’t matter if you bring in an assortment of different types of gold items, either.

How Can I Get Paid the Most When I Sell Gold?

It’s only natural that you want to get the highest offer possible. These tips should help you get a great offer for your gold.

Understand What Affects the Cost of Gold

There are a few things that affect the value of your gold. One major factor is the current market. Because of ebbs and flows in the gold industry -- which is based on things like supply and demand -- gold is worth much more some days than others.

 

The spot price is the price that a troy ounce of gold is worth at any given time. This changes, so if you were given a quote for the value of your gold a while back, there’s a chance that your offer will be quite different now.

 

Be aware that you will not actually be paid the full spot price for your gold. This is because the buyer that you sell to has to make a profit, too. Instead, you will be given a percentage of the current spot price. A reputable gold buyer should be transparent with you and tell you the percentage that you will be paid. This makes it easy for you to compare buyers and score yourself a better offer.

 

Things like the weight of your gold and its gold content also heavily impact the offer you’ll receive. As you can probably imagine, you’ll get paid more for a heavy bar of pure gold than you’ll get paid for a small piece of dental scrap or a bracelet that is made from 10 karat gold.

Can I Sell Other Precious Metals?

At Greenbrier Pawn, we buy gold on a daily basis. However, we aren’t just involved in the gold market; we purchase other precious metals, too. If you have silver bullion, for example, bring it with you, and we’ll give you a fair price for it.

What Should I Do if I Want to Buy Gold?

You might actually be in the opposite situation of wanting to sell gold. Instead, you could be interested in buying gold. If you’re new to buying gold and are looking for some advice, these tips should help point you in the right direction.

Determine Why You Want to Buy Gold

Before you start shopping for gold, you should determine the purpose of your purchase. This can help you buy gold in the right form for you.

 

If you are specifically purchasing gold as an investment, then you’re going to want to look for pure gold or gold with as high of a gold content as possible. Since you’re generally paid more for gold bullion or bars than jewelry, you may want to look for gold bullion in particular.

 

If you’re interested in buying gold simply because you like it, you may want to spend a little more time shopping. If you love jewelry, then gold jewelry could be your best choice. If you’re interested in old coins, then you may want to do your research about gold coins in particular.

 

Also, if you’re like many people, you may want to purchase gold in a few different forms. You can purchase gold bullion to tuck away in a safe place for later, but you can also purchase a few pieces of gold jewelry that you can wear and enjoy on a day to day basis.

Make Sure It’s Real

The last thing that you want to do is purchase gold only to find that it’s not actually gold at all. You’ll also want to be aware of the gold content of what you’re purchasing. You don’t want to pay the price of pure gold for bars or jewelry that are made primarily from other metals. The best way to avoid getting scammed in this way is to only purchase from a reputable gold dealer.

Look for the Best Price

Naturally, if you’re buying gold as an investment, you’ll want to buy it at the lowest possible price. You may want to monitor the stock market and current market prices for a troy ounce of gold. Then, you can purchase your investment gold at the best possible price, allowing you to potentially make more of a profit when you do choose to sell.

 

Even if you aren’t buying your gold as an investment per se, you’ll still want to look for the best price. In many cases, buying used is a good option. For example, if you purchase your fine jewelry from a pawn shop like Greenbrier Pawn, you’ll save drastically over what the same or similar piece would have cost brand new. There are used wedding rings, gold bracelets, gold necklaces, and other gold items available, and our selection is always changing. If you haven’t stopped by in a while, come check out our current selection.

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Why Use a Glenda Craddock Jewelry Store

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Family Owned, Family Run

Our daughter Nina runs Greenbrier Pawn and our youngest Dane, runs Hilltop Pawn. Dealing with them is dealing with me......  Glenda Craddock

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