Top tips on how to sell gold

Lots of people have jewellery sitting in draws and cupboards at home that they never wear

. What many don't realise is the massive income potential hidden in those pieces of unwanted jewellery. With the recession hitting many people hard, people start coming up with inventive ways to liquefy their assets and free up any available cash.

One of the easiest ways to do this is by selling gold. This is a brilliant way to get rid of jewellery that has gone out of fashion and favour, and most companies make the process extremely easy and painless. However before diving in and selling your jewellery to the first company you come across, there are a few things you should consider. You don't want to get less money than your gold is worth, or even risk getting completely scammed.

When selling gold for cash it is interesting to note that a lot of the gold is melted down and used for scrap. This can be particularly useful when the jewellery is badly damaged or has parts missing, or is particularly unfashionable for that era.

There are a few different options available for people who would like to sell gold. Here are the best options with their pros and cons:

Jewellers or pawn shops

Pros - these can be useful as you get to speak to someone face to face,

Cons - It is important to shop around and get comparison quotes, so this can be a time-consuming option.

Gold-buying parties

Pros Are fun, sociable and if you are the party organiser, you look set to make lots of money as you can make money on the pieces you sell, as well as up to 10% of what your friends sell.

Cons Unfortunately most people have a limited amount of friends who in turn have a limited amount of unwanted jewellery. It takes quite a lot of organising to set a party up, and the success can be short-lived unless you are very ambitious.

Mail-in Programs

Pros This is the easiest and quickest way to get money for your unwanted gold. You simply mail your gold to the company, and they mail you the money back. Easy!

Cons As well as a lot of companies who offer consumers very good prices, there are some scammers out there. Make sure you fully vet the company you plan on using. We would recommend using a UK registered company with a good track record and flawless customer testimonials.

Top tips on how to sell gold

By: Jo da Silva

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