I am selling some gold for my friend. How do I go about doing this?

Ruth n Jersey

Ruth n Jersey

Well-known Member
Location
Northern New Jersey
I have a friend who has gone into a nursing home. A sad story. The bottom line is she had no time to even go through her belongings in her mobile home before she was transported from the hospital to the nursing home. The hubby and I went to her home and gathered some of the items she wanted. She had some gold stashed away which we were able to bring to her.

I think the price of gold is down now but she really needs the cash. She bought it from Goldline International Co. How do I weigh it so I don't get cheated when I sell it. I only started looking into to this. Any suggestions?
 

Careful there are alot of antique dealers that will buy many things metal including valuable metals like gold. First thing is find out the weight of the gold and the current price per ounce. I've found the best precious metal prices at coin and stamp dealers. This was for items not actual gold bars.

The big thing is always know the current price per ounce found on most financial web pages, know the weight of what is being sold and find out if there are any markings or certifications for the gold they have.
 
Thanks WhatInThe, I think they go by troy weight and I don't know how to change that into ounces. Then pennyweight gets involved and I can't figure out any of it.
WhatInThe said:
Careful there are alot of antique dealers that will buy many things metal including valuable metals like gold. First thing is find out the weight of the gold and the current price per ounce. I've found the best precious metal prices at coin and stamp dealers. This was for items not actual gold bars.

The big thing is always know the current price per ounce found on most financial web pages, know the weight of what is being sold and find out if there are any markings or certifications for the gold they have.
Click to expand...
 

Take the items to a reputable jeweler first, especially one you have a "relationship" with. They will usually weigh the items for you at no charge and tell you if they are 10, 12, or 18k. Quite often, they'll give you a ballpark value, too. They might even offer to buy them.

Then if you sell them to a gold dealer, you'll know what you're working with so they don't lowball you ridiculously. Some of these dealers are not honest people.
 
Ruth——-We have a well-known coin dealer in my area that also deals in gold and silver. The company is known internationally.

Check it out here.......steinmetzcoins.com

Years ago, I had bought some silver bullion from them and found them to be very honest and reputable. Give them a call and even if they can’t help you, they may be able to guide you in the right direction.
 

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