Selling Gold For Retirement? A Few Things To Know

You have quite a few pieces of gold jewelry that you plan to sell so that you can add money to your retirement or savings fund. You want to make sure you make the best decisions with these pieces, so you probably have a few things you would like to know before you visit a gold buyer. Take a look at a few things to know if you are selling your gold to add money to your savings. 

When is the best time to sell your gold jewelry?

The best gold buyers will keep their cash offers in line with current gold market trends. Keep an eye on current gold prices and sell when the market price is at its highest. For the most part, gold pricing tends to stay fairly stable, but there are times when it is less valuable and buyers will offer you a lower amount for your jewelry because of it. To make sure you get the most money out of your gold jewelry, it is always best to sell when the market is at its highest point. 

Is it a better decision to store and keep gold, or sell it and save the money?

This is always the question for those who are looking to use funds from gold jewelry for something like retirement savings or just general savings. There is no real precise answer to this question. Some people prefer to hang onto their gold pieces in hopes that the pieces will eventually fetch more money. However, other people prefer to sell gold jewelry for cash and save cash. It is up to you to decide what works best for you. The market is stable enough that hanging onto the gold will probably mean you get just as much money in the future, but there is always a risk that gold values could drop. 

Will you get less money from scrap pieces of gold than actual full gold pieces?

Most gold buyers don't really care if you have a whole jewelry piece without flaws or something broken and non-wearable. It is not the usage value a buyer is interested in; it is the gold itself. Therefore, you will be paid according to the quality, purity, and weight of the gold. Things like broken gold chains, gold earring backs, and broken rings made of gold will be just as valuable as any other gold piece.