It's not always easy to sell gold, especially if you want to make more of a career out of the endeavor. If you want to maximize your ability to make a profit when you're working with a gold buyer, you need to follow a few tips. Just like scrap metal and recycling people do, you'll learn how to make the most profit when selling gold with time and experience.
In the meantime, use this guide to help you understand how to maximize your potential profits when you sell gold. From how to pick a gold buyer to how to promote the gold you have for sale, you can learn to become the best gold seller you can be and make the most out of your endeavor as you go.
Pick a gold buyer in your niche
To sell gold, you have to have a gold buyer. You'll find that many people choose to sell gold to the same gold buyer again and again. To find your own gold buyer who will appreciate the efforts you put into your collected gold supply, stick to selling gold within your niche.
For example, if you collect gold coins, sell your gold to a coin collector. If you collect scrap and gold-filled items, sell to a scrap buyer. If you have gold jewelry — in both scrap and whole pieces — sell to a jeweler. A person who understands the individual value of what is before you will not only appreciate the wares you have, but offer you the best prices for your haul. This can help you maximize your profits.
Know the value of what you have
Don't assume you can just collect gold, weigh it out, and then sell it for maximum profit based on how the market is moving. This is just part of your scenario when you sell gold. You want to actually know the value of what you've got. For example, a gold coin might be worth some money for its gold content, but it may be worth even more for its collector value. If you really want to sell gold for profit, you should know each piece's individual value.
When you get more involved in your gold-selling efforts, you will find yourself potentially making more money than you might otherwise. Once you gain more confidence as well, you end up becoming a more successful and profitable gold seller.