It Is Never Too Late to Raise Your Credit Score

Posted on: 10 October 2022

Whether or not to sell gold now is always kind of a frustrating question because there's no telling what the price of gold will do. And with gold prices so high right now, the idea of missing out on that cash could really sting. But so could the idea of selling now and suddenly seeing the price increase substantially the next day. Deciding whether to go to a gold buyer now or to wait a bit depends on your need for cash and how flexible your supply of gold is.

How in Need of Cash Are You Right Now?

The biggest question is how in need of cash are you right now. If you are just a little tired of paying bills on the day they're due instead of paying them early, or you're dealing with a tight budget that still allows you to pay for basics, you could probably wait and see what gold prices do. You'd have to be willing to accept that they might fall, but if the need isn't urgent, then you don't have to decide now. However, if you desperately need cash to eat or keep the lights on, then it's time to sell at least some of that gold. How much you sell depends on whether you need a specific amount of money or just some cash to get you past the last few days before your next paycheck.

Do You Have Smaller Pieces You Could Sell First?

If you're truly in need of cash but still resistant to selling, look for smaller pieces you could take to a gold buyer. A thin gold chain bracelet, for example, will still get you some cash without really making much of a dent in your gold stash. Smaller coins may work, too. Or you may realize that you want to keep all the smaller pieces and instead sell just one of the bigger items you have; that's perfectly OK. The gold buyer will take a bigger piece of gold, too.

What Condition Are the Pieces In?

Selling gold can be a little bit tricky in that you must be clear about what the buyer is looking at. Buyers may be interested in the gold itself, meaning the scrap/spot value, or in the item itself, such as the jewelry the gold is a part of. Take a look at the pieces you have and separate them. Broken items should go in one pile, general items (jewelry or coins that aren't particularly rare) in another, and really unique items in a third (this doesn't guarantee that they are unique; you're just setting them aside in case they are). If you have been unsure about whether to sell your gold now or wait, look at these separate piles and see if you feel any differently about one or two of them. Maybe the broken jewelry, which you could still sell for scrap or spot value (gold's value that day), now seems easy to part with, for example.

You're really never going to have the perfect timing that you plan on when selling gold. Keep monitoring the price and seeing if, each day, you feel the time is right to sell. Reach out to a service like Fast Cash and Pawn to learn more.