smart spending

Sell old gold for cash

Jewelry/coin shops
4 of 7

The scoop: It seems everyone's buying these days, so you won't struggle to find a shop willing to buy.

The benefits: You'll tend to get the most for your money at your local jeweler or coin shop -- up to 70 percent of the gold's value. If you have finely crafted jewelry, they're also more likely to pay more for the jewelry itself, rather than just offering you cash based on the scrap value.

The drawbacks: Many jewelers are catching on to the fact they don't need to offer the best price for the gold and that customers will be none the wiser.

The bottom line: "If a dealer tries to tell you that the offer is only good until you walk out of the store, walk out of the store," says Montgomery. "Go shop. If you walk back in the next day, the dealer will still want to buy your gold." Finally, if you shop around, go to all shops on the same day, since gold prices can fluctuate substantially.




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