If you have gold bullion you want to sell in Michigan, it’s crucial to find a buyer who will give you top dollar for your precious metal. Selling your gold to a reputable dealer can help maximize profits on your initial investment or inherited assets, allowing you to grow your wealth or invest in other metals like platinum or silver.
Selling your gold can be a hassle-free process with the right gold buyer. Discover what considerations to make when selling gold in Michigan and the steps to take to sell your gold bullion for the best price.
Consider Your Options for Selling Gold
If you decide to sell your gold in Michigan, one of the first aspects to consider is where to sell your gold. Several avenues are available for buying and selling gold, such as online gold dealers, pawn shops, private buyers, or local in-person dealers.
While online dealers might offer a convenient option, some faceless online companies engage in precious metals fraud and can leave you with less than your gold is worth.
Private buyers can offer big profits, especially for collectible gold coins; however, vetting trustworthy private buyers takes time and effort. The Better Business Bureau recommends thoroughly investigating online or private buyers, if not avoiding them altogether.
Pawn stores are local entities, but they are in the business for profit and will likely offer you a low price for your gold. Since pawn shops are looking to make a profit, they will not offer you the market value of the gold but only a percentage of its value.
A better option is to use a reputable in-store gold dealer in Michigan, like AU Precious Metals in Rochester and Novi. AU Precious Metals combines industry-specific experience with top-notch customer service to give you a straightforward buying experience. We understand the value of gold and will pay a fair price, giving you the best buy-back deal for your gold bullion.
Determine Which Pieces You Want to Sell
Before you sell your gold, consider how large your profit will be and your current economic needs before you decide to sell anything. While bullion can be sold whenever the market is high, items like numismatic coins should be held as long as possible, as their value only goes up with time and demand from collectors.
Know the Price of Gold
Gold prices change daily, but you can get real-time updates on gold by checking online resources like World Gold Council or Trading Economics. Familiarize yourself with the price of gold before you sell by checking daily updates. You can also view historical prices to understand market fluctuations in gold bullion.
For example, on November 15, 2022, gold was worth $1,770.47, an $165.47 increase from its value on September 26, 2022. Coin values may be more challenging to determine, so speak to a reliable gold dealer or appraiser to obtain an estimate.
Find a Reputable Buyer
Find a buyer with a proven track record and extensive industry experience. These dealers will be much better to work with and are more likely to give you a price that is as close to the daily spot price as possible.
When researching gold buyers, consider the following qualifications:
- Industry reputation. Choose a gold buyer with a solid reputation in the industry, preferably a local dealer that’s respected in the community. View reviews of the organization online or visit its website for customer testimonials.
- Experience. Choose a buyer with experience buying and selling gold and other precious metals. For example, our staff at AU Precious Metals have industry experience that helps them understand the fluctuations and nuances of gold pricing so we can offer you top-dollar for your bullion.
- Additional precious metal services. Sell to a buyer who offers additional services, such as buying precious metals or mail-in programs. Additional services mean they are invested in the industry rather than hoping to buy for cheap to make a profit later, like pawn shops, for example. AU Precious Metals buys gold, silver, platinum, and other metals and uses X-ray equipment to value all incoming or outgoing pieces.
- Ease of selling process. Use a gold buyer with a simple process for selling gold. For example, AU Precious Metals offers convenient mail-in services for selling. We also have a four-step process to walk you through selling your gold items.
Get Top Dollar for Your Gold with AU Precious Metals
AU Precious Metals is a reliable gold-buying company in Michigan. We have decades of experience selling precious metal bullion and investment coins and a proud tradition of honesty and transparency in all our sales.
We have a team of knowledgeable staff and an in-house X-ray machine to ensure your pieces are valued appropriately. Contact us today to learn more about how to sell your precious metals or about our mail-in gold buying service.