Selling Gold and Silver
I live in central Florida and need to sell some silver bars and inherited 18k and 24k jewelry but struggle with learning about the process, commissions, and selecting a reputable dealer. I have done a little research but am not comfortable with moving forward. Can you recommend articles and/or trusted websites to learn more and select the right dealer? I hate to not understand the process and feel like I am being taken. Thank you.
Terry Says
Go to the website of the American Numismatic Association www.money.org
There you will find a listing of registered dealers, so start with that list. Then check online, searching their name to see if they have had complaints.
Not all coin dealers will accept jewelry, but they might refer you to someone who will. The value of the silver bars is based on the daily price of silver, which you can easily find at Kitco.com.
The buyer will likely take a commission discount of about 5% from the current bullion price. If they want to take more than that, find another dealer!
And one more thing: if inflation comes, those bullion prices could move higher. Unless you need the cash now, you might want to see if there is a surge in gold and silver prices! (Signs of a surge — dealers setting up in hotel ballrooms placing ads offering to buy your jewelry!)
