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Locations to Sell Your Gold Nuggets and Flakes

February 19, 2018

One of the more frequently asked questions new prospectors ask is about where they can sell their gold nuggets and flakes. Let’s face it, your favorite prospecting river or stream do not have any precious metal stores near them. However, there are numerous locations that are ready to purchase any gold you have prospected. At some of these locations, you can expect to get paid top-dollar, but others pay only a fraction of its actual worth.

It is important to learn some of the top merchants who are prepared to buy your prospected gold to ensure you receive the most cash as possible for your gold. This will allow you to rest easy knowing that you are receiving the most money from your long days prospecting for gold.

Due to the prices of gold continually rising, more companies have begun to introduce advertising campaigns focused on offering top dollar for your gold. These companies “claim” to pay top dollar for your gold nuggets, bullion, and jewelry. While a few of these companies offer you a reasonable price for gold, the majority of them are a waste of your time. So, the next time you pass by one of these businesses claiming that they pay top-dollar for your gold, do not fall for their bait and keep going.

Determining How Much Gold You Have

First, you must determine the exact amount of gold you have when considering selling your gold. One mistake people make is using a cheap scale that provides inaccurate readings. To guarantee an accurate reading, invest in a high-quality digital scale. In addition to Target and Walmart, these scales can be purchased at most hobby and prospecting stores. To determine if the scale is accurate or not, place a one-ounce weight on top of it. Depending on both the model and type of scale, it may be possible to adjust it for accuracy.

Once you determine the digital scale works accurately, measuring your gold is pretty simple. Typically, gold is bought and sold based on weight in grams and ounces; thus, after placing your prospected gold on the scale, use this type of measurement. Furthermore, only place your gold on top of the scale, and nothing else. Many beginners tend to leave their gold in containers while being weighed. Oftentimes, this leaves the total weight of the gold inaccurately exaggerated.

How Much is My Gold Worth?

After determining the amount of gold you have, you will want to learn how much it is worth. The value of gold continues to rise each year, unlike national currencies. At times, there may be some declines with gold; but the investment is long-term and strong and will pay off in the future.

There are many places where you can learn how much your gold is worth. The most reliable sources include:

Locations to Sell Your Gold

Once you are ready to sell your prospected gold, you must find someone who is ready to purchase it from you. If you prospect in regions known for its gold, there is a strong possibility there are merchants are around. Take the time to visit the nearest town to learn if there are any gold shops or stores. If you locate any, walk inside and ask for a price quote. However, never accept just any offer. To allow you to compare each store, take the time to write down each price offer. Due to the competitiveness of gold buying and selling, merchants often campaign against each other until the prices hit rock-bottom.

Another location where you can sell prospected gold is a jewelry shop. Generally, they smelt the gold to use in the construction of jewelry for their store. As with other merchants, be sure to compare prices because the smaller shops may offer as much as the big ones do. If you are considering selling your prospected gold to a jewelry store, search for ones in your area online or in the phone book. Call and inform them that you are a prospector who is interested in selling their gold and would like to know how much they will offer you to buy it.

Perhaps the online auction website, eBay, is the best location to sell your prospected gold. Whether you are considering selling a few grams or more than an ounce, you are likely to receive the top price on eBay when selling your gold. Buyers set the price of the items they want to sell when using this site. Even by placing the starting bid at $0.01, you can expect it to rise to the best possible price by the time it ends.

 

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