Selling gold?

[WDWAurora]

Has anybody sold gold? I've found a place to take a couple of pieces from my grandmother (not family jewelry or anything) but I'm wondering what to expect. There is at least one piece that we know the weight of from a previous appraisal. If I know that and the current exchange rate for gold, how much of that should we expect? I just don't know how to handle it. DH will be going with me to sell. Any experiences would be good.

 

[mrsv98]

Has anybody sold gold? I've found a place to take a couple of pieces from my grandmother (not family jewelry or anything) but I'm wondering what to expect. There is at least one piece that we know the weight of from a previous appraisal. If I know that and the current exchange rate for gold, how much of that should we expect? I just don't know how to handle it. DH will be going with me to sell. Any experiences would be good.

We sold some silver and some gold, however, our gold was in coin form so it is a bit different. We received about 96% of the going rate for that day (I checked the price right before I went) so we were happy.

I have two suggestions:
1) Find an independent dealer, do not go to one of those "Cash for Gold" places. I read a report and those places give you the least amount for your gold.

2) Go earlier in the week. Our guy told us he can give us more when he can turn around and resell it. If you sell on a Saturday, he has to "sit" on it for a day or two and the uncertainty of the markets will effect the price you get.

Remember, it is your stuff so don't feel pressured to sell if you don't want or don't like the price.

 

[IdesOmarch]

I would also use a local dealer. I've heard some of the ones where you "send in your gold for cash" will call you back saying that they can't take "your gold" because its not high enough quality, and if you want it back you have to send a check for $30 or whatever for shipping costs.

 

[daughtersrus]

There's a lengthy thread about this on the budget board.

Here's a link
http://www.disboards.com/showthread.php?t=1744828&highlight=sold+gold