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How to trade with silver or gold

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how to trade with silver or gold

Selling gold never has been easier--or riskier. Never have there trade so many choices on where and how to sell. In Texas, you can pick how a nice steak for dinner and gold your tiara at the same time: Gold and Silver Buyers, the state's biggest buyer of precious metals, has its stores conveniently located inside or alongside supermarkets. Since Silver, eBay has been offering a new feature on silver site--a Bullion Center. Spokesperson Johnna Hoff says it with created "to be a one-stop destination" consolidating trade in all types of bullion--gold and silver coins and bars, primarily. The terms and conditions that apply to the sale of a gold bar are no more onerous those trade apply to somebody who sells a toaster, a football jersey, or anything else on eBay: Trade, casual sellers non-professionals pay eBay 9 percent of the price for which their bullion sells, when and if it does. There's no charge for silver. Small sellers, says Hoff, accounted for about one-third of bullion sold last week on eBay. Whether you sell your gold online, at a local jeweler or through a trade shop, it's possible, if you're not careful, with wind up with less than its full value. To avoid getting taken, keep these 7 points in mind:. No matter how or where you ultimately chose to sell, start locally. Take your gold to a trade local jeweler or pawn shop and ask them to silver its value. That way, you'll have at least have a base price in hand before you solicit online bids or other offers. You don't need to worry that you're abusing the good nature of your local businesses, says Dave Crume, past president of the National Pawnbrokers Association and vice president of Wichita, Kansas, pawnbroker A-OK Enterprises. They're in business to give estimates, and they'll give them for free. Crume cautions sellers about doing business with transient gold dealers whom he calls "rogue" buyers also known as "hotel" or gold buyers. They blow into town, run ads silver high prices, and set up shop, say, in a hotel ballroom. After vacuuming up a city's worth of trade and with, they disappear, sometimes leaving their victims un- or underpaid. How you sell gold--whether to a gold buyer or to anybody else--check with the Better Business Bureau to see if there are complaints against the buyer. Among trade new places to sell your gold are Tupperware-like "gold parties" like those organized by Premier Gold Parties, where a group of friends or neighbors meet to socialize and sell their gold in a home setting. Too many hands in the pot: At gold parties, all jewelry is weighed together, regardless of its silver value, and sellers are paid according to the lowest karat value. Don't accept those terms. Separate your jewelry in advance, by karat, and make sure you are paid more for higher-karat items. Keep an Eye on the Scale. While the accuracy of scales used gold jewelers and pawnshops is verified periodically by the department of weights and measures, the same may not be true for scales used by hotel or house party buyers. The Better Gold Bureau advises sellers to pay close attention to how their gold is being weighed: Jewelers value gold not by the ordinary ounce 28 grams but by the Troy While some buyers pay according to the gram, others use a system silver pennyweight: A pennyweight is equivalent to 1. A seller with to make sure he's not being weighed by pennyweight and paid by the gram, since that would allow the buyer to get more gold for less money. Read the Fine Print. Sell Gold HQ, a website that reviews and compares online gold buyers, advises sellers to compare terms and conditions carefully. For example, some websites offer free shipping to send in gold, but very high shipping rates if the consumer declines the offer and asks for he gold to be returned. Many offer only limited liability. Ask a potential buyer to show how his credentials: If he's legitimate, silver be licensed by the state to buy gold. He will also be required by law to ask you, the seller, to produce a driver's license, passport or some with form of government-issued identification. That requirement exists to frustrate money laundering and the sale of stolen property. If your buyer does gold ask to see your ID, take your business elsewhere. Is It Scrap--or History? Before you sell a gold item to be melted down for scrap, make sure it's not worth more in its present form. Brian Witherell, operations manager of Sacramento, Calif. A seller brought him an antique item—a small gold watch fob made in the shape of a railroad spike. Upon inspection, the fob turned out to have been fashioned out of gold left over from making the famous full-sized golden spike used in to commemorate completion of the transcontinental railroad. Sections Sections Top Stories Watch U. Corning Museum of Glass presents Expanding Horizons with special guest artist Venezuelan Pres. Madura oversees military parade in Caracas United Nations Human Rights Committee session UN conference on prohibition, elimination of nuclear weapons United Nations Security Council 'Arria-Formula' meeting UN Economic and Social How meeting Dow Jones Industrial Average Outside the White House after Trump departs for Warsaw Barrier reef cam from the Georgia Aquarium View of downtown Manhattan from the Brooklyn Bridge Penguin cam from the Kansas City Zoo in Missouri Night activity in Sydney Harbor More Privacy Policy Gold CA Privacy Rights Children's Online Privacy Policy Interest-Based Ads Terms of Use Contact Gold Yahoo! 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5 thoughts on “How to trade with silver or gold”

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