How to Make Cash Fast by Selling Gold

If you are in need of some quick cash, and have old gold jewelry that you never wear anymore, or some old gold coins in a never admired collection, then check into the ways and methods you can go about selling your gold for some quick money.

The most common method used to sell gold is to take it to your local jeweler and see what kind of deal they can offer you, while this is a great way to get cash right away for your gold, you may find a better deal by selling with other methods. Before you go about selling your gold, you want to have it appraised and see what is the approximate value of your gold pieces. The price of gold is constantly fluctuating similar to the stock market, so what may be a hundred dollars in gold this week, may be two hundred, or fifty dollars next week. The best way to go about having your gold pieces appraised is to take it to a trustworthy gold dealer, and get the current market value for gold in troy ounces and have him weigh and appraise your piece.

Once you have an idea of what your gold is worth, you can either take it to a jeweler and sell it directly to them at your requested price, or sell it locally in a pawn shop, or even if you are not in direct need for the cash, check into selling the gold online.

Typically you will make less money selling it locally, but the benefit of selling to either a pawn shop or jeweler is that you get the cash immediately. If you do decide to sell online, check into selling either to a direct source that operates in buying and selling gold, or an auctioneer website. You may be able to get a better deal by selling it in an auction, but you have to add in the cost to post, and add in the time it will take for you to find a buyer and receive proper payment. With all of these variables in the mix, you are better off selling it to a direct well established source online, or locally to either a jeweler or pawn shop.

If you have checked into online methods of selling your gold, but are more favorable to selling locally, and are unsure whether to sell to a pawn shop or a jeweler, your best bet is to try both. The majority, if not all jewelers and pawn shops will give you an estimate of what they are willing to pay for your gold, so go ahead and visit as many local jewelers and pawn shops as possible in order to get the best deal.

Overall if you are in need of some fast cash, or you are just looking to get rid of your old jewelry and make some side money, check into the various methods of selling gold as mentioned above.

Source of Information: http://articles.moneycentral.msn.com/SmartSpending/ConsumerActionGuide/HowToSellYourOldGoldJewelry.aspx