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Where to Sell Gold?

Where to Sell Gold to Get the Most Profitable Deal Without Risk

A common question people have is 'where to sell gold', and there are only a few limited choices available. With the right research and the right approach, one can find the best answers to this question and also, get the best price possible.
Rahul Thadani
Last Updated: Feb 10, 2018
Many people have often wondered where to sell gold, as knowing this can show one where to get instant liquidity from. Owning gold in the form of jewelry, coins or bars is quite common, but the downside is that there is absolutely no liquidity derived out of this. By selling these gold items, an individual can procure hard cash and have the ability to spend it as and when they please.
Gold has always been a very precious metal to own, and man has treasured gold since the time it has been discovered. As such, the value of gold is very high in the market and one can receive a good price for it, if they only know where to sell it. Till a few centuries back, gold was also used as the standard to calculate the value of money. Many countries even carried out their international trade activities based on a gold standard. This concept has changed now, but the valuation of gold still remains extremely high.
Gold Collectors
People wondering where they can sell gold jewelry often give an advertisement in order to attract collectors of gold. This is a good option where you can get a good price but it is a rather unsafe one, as you do not know much about this potential buyer. A lot of people collect gold and are willing to pay a good price for it. If this is your first attempt at dealing in gold and you are thinking about where to buy and sell gold, this is probably not a very good idea for you.
Auction Houses
There are many auction houses where you can sell off your gold. You can even use an online auction house like eBay for this purpose. This is also a risky place to do so, as you may not get a very high price for your gold. This ultimately depends on the nature of the bidders and potential buyers of your gold. You will get a good price for your gold only if, someone who really wants it badly is bidding for it. Many a time it happens that, people do not know where to sell gold coins and put it up for auction without realizing the value of gold coins. This results in them getting a lower price for the gold than what it is actually worth.
The best place to sell gold is to a reputable and fairly large dealer. This is made even easier if you sell the gold to the same dealer that you purchased your gold from. Dealers have a business to run and thus, welcome new stock. They may not give you a very high price as they also have to resell the gold, but they will be as fair as possible. People who are in doubt about where to sell gold bars and gold coins should simply visit a big dealer for the best deals.
You must remember that selling gold coins is much easier than selling gold bars or gold nuggets, as these are easily purchased by other people. Gold jewelry too, has a lot of demand and as such, it can be easily sold off at a good price. One needs to be very careful about selling gold jewelry though, as picking a wrong option can lead to getting an unfairly low price.
The buyer must have some credibility and reputation as well, and one must refrain from selling gold to an unknown party. Auction houses and online websites are therefore risky places to sell gold, and any person trying to sell gold coins or other items must be very careful while doing so.