With a bad economy people are on the lookout for new ways to make money. One of these ways that people use to make extra spending cash is selling gold. It could be old gold jewelry, coins, or any other scrap gold but they might have. While it may sound easy at first, unfortunately it is not all that easy to get your actual gold's value. And not only that, you also have to be on the lookout for all the con artists out there that are looking to ripoff people new to the field. In the following article I will explain how you can sell your gold for cash easily and safely while avoiding any scammers that might be out there.

Figuring Out How Much Your Gold Is Worth

The very first thing you do before you think about finding a buyer is to figure out how much your gold is worth. Easiest way to accomplish this is to go directly to a jeweler or pawnshop where they have the tools available to determine the karats of your gold and how much it weighs. They will then give you an estimate based on the current spot price of gold. But that price changes daily so you may have to check a financial related sites like CNN or gold price.org that will give you the current price of gold later when you actually go to sell your items. You can also try your hand at figuring out yourself but you will have to find a guy that shows you how to convert from the standard ounces to pennyweights.

Once you have an idea about what your gold is worth you have to find a buyer. This sounds pretty easy but there are hundreds if not thousands of buyers out there so we have to be careful. Who you sell to also depends on what type of gold you are selling. You wouldn't sell gold bullion to the same place that you would sell broken gold jewelry for example.

Selling Scrap Gold

For scrap gold and the like, you would be best off selling to a gold refiner or dealer. They buy all kinds of different gold based on the current price of gold. If you can you should try and find one that pays out at least 90% or more.

If you have valuable gold jewelry that is worth more than just the gold content in the item you should probably think about selling to a jeweler or pawnshop. They will take in consideration the aesthetic value of your piece not just the gold value like most other buyers.

And finally if you're looking to sell gold coins the best place is probably straight to a coin dealer. Some older coins might have more value than just the gold in them so selling to a gold coin dealer who can appraise them is usually better than selling to a gold refiner.

Those are all of the major types of gold that most people try and sell and where to sell to but there are of course other places to sell your gold to like online auctions. Just follow the advice above and to be well on your way to selling your gold safely and easily.