Oct 6, 2011 7:17 am
We have spent a lot of time talking about the value of gold and how this is a fantastic opportunity to get top dollar because the economy is iffy. But, what options do owners and investors actually have as to where they sell their gold. If you intend to be selling gold in NYC you have some pretty amazing options.
Gold jewelry is an interesting thing to sell. Depending on the original value of the jewelry you may want to consider alternatives then its face value. You can get cash for gold by selling it several ways. If you think the jewelry can get a good price by selling it to an individual, you can get it consigned or host a gold party. Both of these options allow for flexibility in price adjustment because the value is in the eye of the beholder to an extent (as long as it is not outrageously inaccurate to market price. You can argue its worth based on the piece's cultural or historical significance.
You can also sell gold for cash to be melted down by a refinery. You may want to do some research as to which service you choose, though, because there's a discrepancy among how much cash you can get out of it. It's probably somewhere around 10% of the retail price. It's great for quick cash and if you're really not satisfied with the price you can return the check and get your gold back within the time limit the refiner sets.