WEST SEATTLE COINS

What You Need to Know Before You Sell Your Gold

Mar 17, 2013, 11:19 AM | Updated: Mar 29, 2013, 11:50 am

You can’t go anywhere these days without hearing about what a great time it is to sell your gold. With the economy still struggling, more and more people are selling their gold for cash. And it’s true that at around $1,700 an ounce, gold prices are near record highs. But you need to be careful when selling your gold.

At West Seattle Coins and Bellevue Rare Coins, our certified numismatists have been evaluating gold since 1979. And we talk to people interested in selling gold every day.

Here are some simple tips you should consider before selling your gold to a gold buyer:

Know who you’re dealing with. It’s sad but true that there are some disreputable gold buyers out there. Do your research before selling your gold. You can read reviews online and also go to the Better Business Bureau website to check on the buyer’s reputation.

Stay away from gold buyers with no phone number. You always want to be able to talk to someone if you have questions. When a business doesn’t list a phone number, you may have a harder time tracking someone down if you have a problem.

Watch out for just-opened shops. In the current economic climate, more and more gold-buying businesses are popping up. Many of these are legitimate enterprises, but they’re often just middlemen who will offer you a lower price because they’re just going to turn around and sell you gold again to someone else. It’s safer to sell your gold to a business that’s been around for a while — and you’ll often get a better price if you avoid the middleman.

Don’t pay too many fees. Disreputable gold buyers will often offer a high price for your gold, but then add on a bunch of dubious fees (for “handling” or “processing”) to reduce the amount of cash you get.

Avoid businesses with no return policy. If you don’t like a buyer’s offer, you should always be able to go elsewhere for another appraisal. If a gold buyer doesn’t make it easy for you to turn down their offer, watch out.

Be safe. And remember that it’s always safer to sell your gold in person rather than through the mail. That’s the best way to get an accurate and honest appraisal.

The bottom line is that there’s rarely been a better time to sell your gold, but it’s important to get some trusted, expert advice before you sell. So come see the experts at West Seattle Coins and Bellevue Rare Coins in West Seattle, Bellevue and Lynnwood. We’ll give you a free evaluation with no pressure to sell. at West Seattle Coins and Bellevue Rare Coins website.

West Seattle Coins and Bellevue Rare Coins specializes in gold buying and dealing in rare coins. We are a family-owned business that was first established in 1979 and is now located in West Seattle, Bellevue and Lynnwood. We also buy and sell gold, silver, diamonds, currency and jewelry. Visit us first for a free evaluation.

Did you like this post? Share it with your friends or like it on Facebook.

West Seattle Coins

No Author

Bellevue Rare Coins Buys One-Cent Coin for $20,000

Back in the 1790s, the United States was quite a different place. George Washington gave the country’s first State of the Union address. Thomas Jefferson was in charge of the first U.S. Census, which asked a total of six questions. The largest urban area was New York City, with a population of just over 33,000 […]

11 years ago

No Author

Gold and Silver Coins Found Buried Under a House

The doors to the Bellevue store opened and in walked a family — mother, father and three children — absolutely covered in dirt. "Even their car was dusty," says Adam Richey of West Seattle Coins and Bellevue Rare Coins. "They walked in with these filthy paint buckets in their hands, all of them giddy and grinning."

11 years ago

No Author

Why It’s Still a Great Time to Sell Your Gold

If you're considering selling your gold, it's not too late. The price of gold remains historically high. Back in 2001, gold was trading at just more than $250 an ounce. In September 2011, an ounce of the world's favorite precious metal was fetching nearly $1,900. It's been an incredible ride for gold investors over the last decade or so, but fluctuations in the price of gold are nothing new.

12 years ago

No Author

Buying Gold and Selling Gold? The Answers to Common Questions

At West Seattle Coins and Bellevue Rare Coins, our business is buying gold and selling gold, as well as rare coins, silver, jewelry and antiques. Every day, people come in to one of our three locations with questions about how to start investing in precious metals—or how to turn the valuables they have into cold, hard cash.

12 years ago

No Author

Theodore Roosevelt and the Renaissance of American Coinage

Back in December 1904, three years after he took office, Theodore Roosevelt sent a famous letter to Treasury Secretary Leslie Shaw that ushered in a new age of American coinage.

12 years ago

No Author

The Curse of the Mountain of Light

There are some who believe the diamond we now call Koh-i-Noor (Mountain of Light) has been around for more than 5,000 years. Although there's no proof of that, we can trace the enthralling history of this magnificent stone for certain from the 14th century. It was then that the first mention of its curse appeared in a Hindu text: "He who owns this diamond will own the world, but will also know all its misfortunes. Only God, or a woman, can wear it with impunity."

12 years ago

What You Need to Know Before You Sell Your Gold