to sell your gold and silver is a fairly complex question with a simple
answer--sell it wherever you can get
the highest price safely, and after all costs. A couple of important considerations to keep in
mind relate to liquidity and transparency.
simply means there are lots of buyers and sellers for the item in
question. A more liquid item is a 1 oz. gold maple leaf. As
I write this, I can buy from my favorite dealer for $1,156 or sell to them for
$1,125. That's a spread (the difference between their buy/sell
prices) of less than 3%.
great deal! You could also pick one upon ebay for just a bit
more. Be careful selling there though, because fees for ebay and
paypal will most likely exceed any premium you earn there.
less liquid item is a handful of old jewelry. Take a handful of
necklaces you paid $1,500 for, and barring a huge jump in the price of
gold, you'd probably be lucky to sell for $200-300. That's a
spread of 400%.
Transparency means that the value of an item is widely known, also
works against you as a jewelry seller. As already noted, anyone
can easily find current sales prices for common gold coins.
Picture a handful of old jewelry. What is that worth? Do
you know its purity? Its weight? (In ounces (troy ounces)
and in grams?)
line is that for most of us, the easiest approach to get a reasonable
value for unwanted scrap gold or silver is almost certainly going to
involve getting quotes from several buyers. That will probably
involve schlepping into several "WE BUY GOLD" stores. If the
price offered was close, I'd probably settle for 2 or 3 quotes.
coins or bars (where the value is transparent, options include local
coin/metals dealers, online dealers, and again, ebay.
99.9% of my experiences with ebay have been positive, I'd be reluctant
to sell high value items. Even if a payment clears, there is
still a chance, however slight, that a buyer might return a fake coin
and ask for a refund. Far fetched? Perhaps, but I'd prefer
to sell to a local dealer or a major online dealer.