Selling Gold – What You Need To Know

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I Want to Sell my Gold

You may be considering the question “I want to sell my gold, what do I need to know?”  There are definitely a few things you’re going to have
to think about. It isn’t just as easy as taking it out and coming home with cash, there are issues you’re going to have to consider and facts you’ll need to know.

When it comes to gold-selling, we’ve got all the facts you could possibly want and we’re happy
to share, so let’s take a look at what you need to know to get the best results.

GoldMonkeys are highly experienced in the jewellery, gold and silver markets. Call us free on 0800 6889 230 or email us at hello@goldmonkeys.co.uk for answers to all of your questions. Read about our company history here.

Sell gold near me best price

1. Market Values Will Fluctuate

This is probably one of the most difficult things for people to grasp when they’re trying to get to terms with selling gold – the value of your gold doesn’t always remain consistent from one month to the next.

Gold has a fluctuating market value, and you need to keep an eye on it if you’re going to get the best results. Obviously, it is important to try and get the best results, but at the same time, you’ll want to look into how you can time your sale to work around the value.

2. Gold Bars and Coins Bring Bank

Something that we figure you’ll probably want to know is that when it comes to selling gold,
some items have a higher value than others. Knowing what’s what is pretty important for making sure that you get the best results.

It’s important to recognise when items bring in the highest value. In the case of gold, it’s often coins and bars that generate a large amount of money. These are the kind of items that you will want to keep an eye on, because they have the potential to do very well.

3. Fake Gold is Everywhere

If you are going to sell your gold, you have to be wary of selling fake gold. Unfortunately, fake gold is pretty common these days, so you might have bought a piece of gold that you thought was real, but in truth it was fake.

A professional can determine whether or not your gold is fake for you, but if you want to do it yourself, look for signs of rusting or aging. If you see either of these, then that is probably a sign that your gold is fake, because real gold doesn’t rust and break down like other metals do.  Gold is also non-magnetic, so a quick and easy test is to test your gold with a magnet.

Final Thoughts

Selling gold can be a valuable way of releasing cash. However, something you should be aware of is that it isn’t as straightforward as just taking it down to your local pawn shop and exchanging it for money. In most cases, there are issues to consider. This isn’t the end of the world, because if you’re careful, then you won’t have any problems. Ultimately, it is important to explore all of your options, because you have quite a few choices at your disposal to pick from.   Hopefully we’ve given you some brief but useful pointers when posing the question “I want to sell my gold, what do I need to know?”