Today, more and more people are becoming aware of the worth of gold and silver. For this reason, many people are thinking about becoming a novice gold or silver seller.
Why? Who doesn’t want a little extra cash in their wallet? While there is a plethora of information available about how to find scrap gold and scrap silver to buy and then sell, it can be overwhelming for beginners.
Below you will find tips aimed at novice precious metal buyers/sellers.
Where to Find Precious Metals to Buy and Then Sell
Selling Silver or Gold?
print a free, insured tracking labelIndividuals who want to sell precious metals to make some extra cash don’t need a bunch of expensive equipment to begin the process. Instead, you need to be ready to get dirty and do a bit of searching.
The best places to find scrap precious metals are listed below.
- The very first place you need to look is in your own jewelry box. Check out all the nooks and crannies of the jewelry box and you will probably be amazed at what you will find.
- Once you have checked your jewelry box, move on to your junk drawer. Everybody has one, its the drawer were you throw a ton of stuff you don’t need at the time including broken watches, busted knick knacks and other valuable items. Search the drawer carefully, it’s unbelievable what you could have thrown in there and forgot about.
- After you have cleared the jewelry box and the junk drawer, make sure you check out all your other hiding places. Then be prepared to tackle the garage and the shed in search of scrap gold and silver.
- When your house has been searched, ask your friends and family if they have any scrap gold or scrap silver that you can have. You will probably have to help them search for it, but you would be surprised what people will let you have, especially if they know you are doing it to make some extra cash.
- Once upon a time garage sales and thrift stores were a prominent place to find scrap gold and silver. However, since more people are becoming aware of the price of gold and silver, less and less precious metal is found at these types of locations. However, it is still worth to check them out.
- Other places to look include Ebay, Craigslist, flea markets and antique stores.
When Selling Precious Metals …
Just as, there are tons of people who want to buy and sell precious metals, there are an equal amount of people who want to buy scrap precious metals from you.
For this reason, it is essential to do your homework and sell to the right buyer. Otherwise, you will not get the profit you were hoping for.
Additional Information: Precious Metals Scams And How To Avoid Them
When choosing a silver and gold buyer:
- Always check out the company you want to sell to, especially if you found the business online. Many companies will claim to be easy and reliable, but if you don’t check them out for yourself, you can’t be sure.
- If you get your scrap gold or silver appraised, resist the urge to sell directly to the appraiser. Many times if an appraiser knows you are anxious to sell your precious metals, they may undercut the price in order to get a good deal for themselves.
- Look for Live Price Charts displaying melt prices to assist with estimating the value of your scrap silver and scrap gold.
- If you find that there is no information available regarding the company you want to sell to don’t do it. Unknown companies with obscure or no information available could be a scam intended to cheat you out of money.
Following the tips above will help the novice precious metals seller earn a little extra cash to line their pockets. Enjoy the windfall and pay off bills, or splurge on a little vacation.
By Mike Ferreira on November 4th, 2012