Sell Gold Online For More Today
Many people sell gold to investors who buy it to hedge against political or economic currency crises. This is because compared to investment vehicles like high-yield bonds or stocks, gold is a relatively safe and easily liquidated asset to possess that often works well as a hedge when the stock market tanks.
People demand and sell gold in different forms. And the demand for physical gold is very strong, providing ample opportunity for individuals looking to sell their gold jewelry. Individuals hoping to sell gold bars or sell gold bullion will find that demand is high as well.
In this article, we’ll look at how much your gold might be worth, the different types of gold that have value and how you can sell your gold.
HOW MUCH IS YOUR GOLD WORTH?
Like all commodities in economics, the price of gold is influenced by supply and demand, in addition to speculation. The majority of the world's total mined gold still exists today in accessible forms, like bullion and jewelry. This form of gold has great potential in the resale market, where people can provide money for your gold. In the past few years, the quantity of pre-owned jewelry re-entering the market has turned into a multi-billion dollar industry. Many companies offer high market value prices to gold jewelry sellers.
SELL GOLD BULLION ONLINE
Bullion is usually gold in the form of bars, ingots, or coins. Unlike jewelry or a Hermès hand bag , gold bullion does not have fashion value, but it does have plenty of financial value. Bullion has maintained value throughout the ages - even the Ancient Greeks were using gold coins as far back as 500 B.C.E.
Gold bullion is a physical and timeless asset that can be stored securely, protected and is not subject to the financial loss from inflation in the way money is. It’s worth is often preserved unlike conventional currencies. This can make gold bullion useful as an emergency fund as long as you can liquidate it quickly when the time comes. Like other forms of gold and precious metals bullion is a relatively safe and easily liquidated asset that offers some degree of financial stability as it continues to hold value.
Back in the old days, if you wanted to sell gold bullion you most likely either had to find a local collector-buyer-dealer or sell it on a commodity exchange just like one would a stock. Generally this would involve physically relocating the bullion to its new home. But today, online resale can make selling your gold bullion a whole lot easier.
HOW TO SELL GOLD COINS
One great way to exchange money for gold is to sell gold coins. Unlike plain gold bars, coins often feature attractive designs or even have historic value. But similar to gold bars, the prices of gold coins are not fixed and depend on a number of variables including its weight, gold content and the gold spot price.
But how do you sell your gold coins? . A good place to start is to determine its current value through evaluation and authentication. Once you have had your gold appraised and know your coin’s value, the next question is where to sell gold coins. Worthy is a place that offers a safe, reputable, and easy way to sell gold coins while providing guidance through the entire process.
HOW TO SELL GOLD BARS
Another common form of owning and selling gold is through owning gold bars. Gold bars were originally designed for easy storage and safekeeping as they are portable, private and long-lasting.
Gold bars can easily be liquidated, creating fast cash for your gold. An important thing to note when selling gold bars is that all bars do not have the same value, even if they are similar in weight and size.
FACTORS TO CONSIDER WHEN SELLING GOLD BARS
There are four main factors to consider when selling gold bars.
- The current spot price of gold- This means the current market’s dollar value for one pure ounce of gold. It is good to note that the gold spot price varies minute to minute, just as stocks or bonds do on the financial exchanges.
- Gold Bar weight and purity- Most gold bars are stamped on the front or back with the weight/purity specifications. For the most part, gold bars are either .9999 or .999 pure. If the bar is not marked it may turn out to be copper or bronze and should be authenticated.
- Gold bar melt value- After obtaining the information about the purity and gold spot price, one can ask a buyer to estimate the melt value.
- Premium - A premium refers to the current price above the melt value of a gold bar. A calculation of the premium can depend on factors such as the demand and cost of production.
WHERE TO SELL GOLD
There are a number of places to sell gold, in both the “real” physical world as well as digitally online. If you have gold you are interested in selling, here are the main ways that you can do so:
- eBay- Though eBay has a lot of site traffic, there’s no predictability with its bidding system. eBay is convenient but it also has a major problem with the lack of experts or specialists involved in the process. This means there are no verification or authenticity checks, allowing one to be vulnerable to scams.
Due to this process, buyers will be looking for your history of selling gold before even considering making a bid. You are also unlikely to receive the true value of your gold due to the auction process having no professional supervision.
- Pawn Shops - Pawn shops are good for quick cash in exchange for gold, but you will likely not get good value. Don’t expect high returns when selling your gold.
The staff working in pawn shops are not trained in precious metals and therefore may not provide an accurate evaluation. Since pawn shops deal with quick cash and turnovers, the offer will almost always start lower than the actual value. If you need instant cash, pawn shops can be a good option but remember that you will likely be underpaid substantially.
- Local Gold and Jewelry Stores- Local jewelry or collectibles stores sell their valuables for retail prices which are marked up significantly. And when local jewelers buy pieces like gold coins or bars, they will normally sell them to a dealer, who will then sell them to a wholesaler.
This supply chain makes the whole process of buying and selling gold more expensive, leading local jewelers to offer a lower value deal in exchange for your gold. Selling to a local jeweler you trust can help give you peace of mind, but as with pawn shops, you probably could have earned far more money.
- Worthy- Worthy has developed a safe and simple way to sell your gold online. By only selling your valuables to qualified buyers, Worthy ensures you get the best value available for your gold.
The entire process is convenient and can be completed right from your home. Moreover, we completely understand the apprehension you may feel in selling gold to strangers via an online auction platform. To give you peace of mind and security, Worthy covers the insurance, shipping and professional authentication and evaluations of your gold bars, coins, or jewelry, presenting it to professionals and vetted buyers.
Most importantly, your gold is kept safe and secure the entire time and you are always offered the option to decline the sale if the price doesn’t meet your threshold. In the event of this, Worthy will return your gold items to you fully insured and free of charge. This way you have virtually no risk of financial loss through damage, loss, theft or other misfortune.
GOLD ITEMS ACCEPTED BY WORTHY
Our clients rely on us for help when it comes time to sell gold bars and sell gold bullion. In addition, Worthy accepts a variety of precious metals including gold and silver coins and bars. We also accept all forms of jewelry and objects made from gold as well as items made from platinum, silver, and palladium. Accepted gold items and other precious metals include:
- Alloyed gold items made in 9, 10, 14, 18, 20, and 22 karat gold
- Pure 24 karat bars
- 22 karat and 24 karat gold coins
- 925 sterling silver and 900 silver coins
- 950 and 900 platinum and palladium
HOW TO SELL YOUR GOLD WITH WORTHY:
At Worthy we make selling your gold bullion, coins or jewelry simple, secure and even exciting! Here are the steps you will take when selling your gold on our platform:
- Description. Briefly tell us about the gold items you want to sell.
- Trending Price. Based on the description and similar gold items auctioned on our platform, we’ll formulate a trending price.
- Evaluation. You will receive a prepaid, fully insured FedEx shipping label addressed to our facilities for authentication and evaluation.
- Reserve Price. After thorough cleaning and evaluation, we’ll take HD photographs of your gold items to display at auction. At this stage, you are given the opportunity to set a reserve price. This will be the minimum price you are willing to accept for your gold valuables
- The Auction. Buyers are invited to view and place competitive bids on your valuables. If the highest bid meets or exceeds the reserve price, the sale is confirmed and the money is sent to you. If the auction ends below the reserve price, you have the option to decline the sale and we will return your gold items to you fully insured, free of charge.
Until your gold items are sold, they will be stored in a highly secured vault at Worthy's headquarters and insured throughout the entire process.
At Worthy, we’re proud to offer an easy way to sell gold online. We’ll be happy to help you get the best offers for your gold jewelry and other items while providing transparency, objectivity, and security. Our customer reviews are a testament to our high level of professionalism. So what are you waiting for? Start selling your gold with Worthy now.