where and how do I sell gold

[Anonymous No.12105227]

I have 70 grams 14-karat gold chain laying around and need to sell it for some cash, all places that are willing to buy it out from me are lowballing me with bullshit like 25% commission etc.

Is it safe to sell it online to someone? If yes how should I do it.

[Anonymous No.12105279]

>14 karat

Wouldn't give you a bin to put that garbage in kid.

[Anonymous No.12105442]

>>12105227
physical gold is a scam,

[Anonymous No.12105555]

>>12105227
with such a low karat the only thing you can really do is send it in for melt somewhere

[Anonymous No.12105625]

"muh low karat" that thing is worth around around 1,5k, I'm mainly asking for best options to sell it, thought about selling online but thing seems not safe

[Anonymous No.12105638]

>>12105227
That's 40.8g of pure gold, or $1630.475 at spot for the gold content.

Have you tried selling it as a chain or have you only tried selling it for its material content?

[Anonymous No.12105699]

>>12105638
finally some reasonable answer

tried selling it as chain in local jewelries but was offered things like "anon you can sell it through our store at 20% commision, anon we can buy it out from you for 1 200$" so the best option so far is melting it, but I'm sure I can get some extra for the chain, like production cost etc. it was basically hidden for a few years so it's not even in bad condition.

[Anonymous No.12105714]

>>12105227
Try getting in contact with the big metals dealers. APMEX/JM Bullion/Provident.
One of those has to buy jewelry

[Anonymous No.12105740]

>>12105714
They're very picky about jewelry since they mainly deal with coins and bars. OP should send it in to a melter. I found this one online and it's only 10% which is far better than the jewelry store 20% that he is whining about in this thread.

https://www.jillplatner.com/pages/melt-your-gold

[Anonymous No.12105767]

>>12105699
They have to make a profit.

I would haggle with them.

Explain that the spot price is $1,600 and you can get 10% under spot for it with this company >>12105740, then ask if they would match that price because you need the money but would prefer to sell it to a local business rather than having it melted down. Be firm. They will buy it from you.

[Anonymous No.12105769]

>>12105227
>14-karat
Cash-for-gold.com

[Anonymous No.12105770]

>>12105740
edit: scratch that link, this one is better and offers 95% spot

http://www.midwestrefineries.com/gold.htm

[Anonymous No.12105801]

>>12105770
Another possible refiner
http://www.garfieldrefining.com

[Anonymous No.12105827]

>>12105801
just don't send them anything on a monday

[Anonymous No.12105835]

>>12105227
Forgot to add that I'm located in Europe but thanks for links nonetheless
I think selling it for melting wouldn't be an issue, I know I gought it with a markup. I'm sure the chain has more value than just gold itself. But how do I find a buyer. Is ebay a good option? Never sold anything on it.

[Anonymous No.12105854]

>>12105835
>Forgot to add that I'm located in Europe but thanks for links nonetheless
that's an incredibly important detail

>Is ebay a good option?
No, you'll get raped in fees and commission.

[Anonymous No.12105869]

Sell it online, through either ebay or facebook marketplace if you arent in a hurry. Thats your best bet at hitting spot. Record a video of you testing it, if at all possible. If you list it at spot prices and live in a decently populated area, you'll usually get an inbox full of boomers looking to pay a few dollars less than they would at places like apmex
You maybe even be able to hit above spot, if the style of chain isnt super old

If you need it now, go to a jewlry shop. They'll give you like, 75% spot, as opposed to a pawn shop or cash4gold places that are more likely to give you 50%-60%, if that

[Anonymous No.12105891]

>>12105854
>raped in fees
as compared to what? A pawn shop? He'd get more, even considering commisions and fees.
As opposed to a specialty jewlry place though, he may just about break even, though he'd be wasting time at that point

Use Facebook marketplace, or your euro equivalent of craigslist.

[Anonymous No.12105912]

>>12105869
How would facebook selling work like in this situation? Even if the buyer would send me the money first isn't there a way I could get fucked by things like paypal insurance and him claiming it's fake etc. Don't wanna risk getting into years long fuckery with some retard in different part of the world.

[Anonymous No.12105924]

>>12105227
Shit bro I’ll buy it how much do you want for it and do you have a pic of it

[Anonymous No.12105926]

>>12105891
someone who finally gets it, thanks for advice anon

[Anonymous No.12105953]

>>12105924
sorry anon, selling on 4chan is last thing I'd consider, plus you're most likely located in America anyway

[Anonymous No.12105967]

>>12105953
True and true

[Anonymous No.12105982]

>>12105227
Give it back, Tyrone

[Anonymous No.12106102]

>>12105926
Yeah, I used to buy gold and silver, just as a sort of savings. It was for fun, and for cool numismatic coins and stuff- but I had to sell everything when I lost my old job.
>feltbadman.jpg

>>12105912
What your describing would be more associated with eBay. Yes- eBay usually always sides with the buyer, but there is a process you can go through if in fact the buy does want to fuck you around. The money is held in escrow until the item is delivered as expected, so theres not a huge risk for either party, except for wasted time and maybe shipping fees.

But, like I said, I think the best thing for you to use is Facebook Marketplace, or your Euro equivalent of Craigslist. Meaning- do it locally.
Find someone local and meetup in a public area. That way they can inspect the markings and all is in the open. This option takes the most amount of time, but will get you to spot or higher.
Advertising the item at spot price will get you more attention, but you might want to start off a little higher, and focus on the chain as a jewelry peice, instead of a precious metal. Make sure to take nice pics and that, make em artsy for best results. Sell an idea ;)

Good luck to you Anon

[Anonymous No.12106180]

>>12106102
>Yeah, I used to buy gold and silver, just as a sort of savings. It was for fun, and for cool numismatic coins and stuff- but I had to sell everything when I lost my old job.

Thanks for help anon, that's literally me, I have big stack of other shit like coins, other chains etc.

Yeah I'll try to go with some local marketplace first, I just have bad experience with facebook selling (paid through paypal invoice, was lucky I had post insurance which covered some of the losses) but I know it has higher value than just the metal price.

[Anonymous No.12106191]

>>12105699
>we can buy it out from you for 1 200$
Why didn't you take this offer?

[Anonymous No.12106233]

>>12106191
Because the material itself is worth more than 1 500$

[Anonymous No.12106241]

>>12106233
It's only worth the highest offer.

[Anonymous No.12106254]

>>12105891
Is this a joke? First paypal takes a cut, then ebay takes an even larger cut. Then you have to ship it, and fork out a fortune for the insurance. And then on top of that you have to deal with scammy buyers who will file IND saying it's a fake or something. There's just way too many risks with ebay and they never ever side with sellers. OP just needs to sell it to a refiner in Europe and be done with it.

[Anonymous No.12106290]

>>12106254
>not being able to do basic math

Paypal takes .30c plus 2.9% and eBay takes 10%

Not hang on here, cause this will be complicated

10% + 2.9% = 12.9%

a 12.9% loss is BETTER than a 25%-50% loss, you absolute mongrel

[Anonymous No.12106302]

>>12106290
no you listen to me you absolute dumbfuck. It's easier, simpler, quicker, and far less risky for OP to just melt it down and the fees will only be 5% from a descent refiner. Fuck you moron

[Anonymous No.12106341]

>>12106302
>easier
>simpler
>faster

>get out of bed
>putting on pants
>get in the car
>fucking drive
>fucking DRIVE to a PHYSICAL establishment
>haggling
>settling below spot

Yeah, ok boomer

[Anonymous No.12106385]

>>12106341
You don't have to drive anywhere. Just send it in. And how can you whine about settling below spot when you told OP to take a 13% cut which would put him well below spot. News flash retard: most people don't buy gold chains from random people off the street, they go to jewelry stores. JFC was your brain replaced with a potato?

[Anonymous No.12106445]

>>12106341
also, another thing for OP to consider, if you're new to ebay and have no seller history, no one in their right mind is going to buy a $1,600 gold chain from a new seller. and I mean nobody.

[Anonymous No.12106464]

>>12106385
>literally this angry
>cant do math
>calls me potato brain

Go fuck yourself dude. Had you actually read OPs posts, you'd understabnd that there is cosmetic value to OP's gold. Its not just the precious metal.

>most people don't buy gold chains from random people off the street
>random people off the street
What a basic strawman fallacy. Not suprising, since you're a real life reatard. OP is not a random nigger in a tenchcoat. He is a transparent person with a specific product.

And yes, people in the gold market are ALWAYS looking for deals. If he lists it at spot price, he'll have tons of buyers. Like I said, they would rather hit spot than pay premiums at other online retailers, or worse, gay boomer physical establishments


You're just a neckbeard contrarian. Your input has been of no value here. No one takes you seriously. Get off /biz/ and go back to /b/.
Seriuosly dude, take a shower

[Anonymous No.12106476]

>>12105953
one thing you could consider is unironically selling on reddit. There's a sub called r/pmsforsale
I sold about $2,500 worth of silver last year for about 2% over spot and got a great deal and the buyers got a great deal as well, it was win-win. It's mostly burgers but there are some euro buyers there as well. The only catch is as a new seller you would have to ship first, but if the buyer has a good track record then it's safe.

[Anonymous No.12106490]

>>12106464
>Go fuck yourself dude. Had you actually read OPs posts, you'd understabnd that there is cosmetic value to OP's gold. Its not just the precious metal.
well you can just go double fuck yourself. cosmetic value is meaningless. an item is only worth what someone will pay for it.

[Anonymous No.12106532]

>>12106490
>cosmetic value is meaningless
That may be true for you, in your market. There are other markets out there anon

>an item is only worth what someone will pay for it
>only
Thats a glass-half-empty argument. Tkae out the modifier "only" and you get a more possitive inclination.
The point is, selling is an art. It could swing either way depending on the choices he makes.
You are suggesting he settle below spot, while Im telling him to invest more time for greater return.

[Anonymous No.12106541]

>>12106532
OP said it's just a gold chain, it's not some rare <5,000 mintage 19th century gold coin. unless you have some exceptionally rare coin or jewelry, spot is about what you can expect.

[Anonymous No.12106583]

>>12106541
Dude, your post sitting right above me is you bragging about a solid 2% above spot.

You dont even take your own advice when selling your own stock, fucking lmao