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Thursday, November 26, 2009

Sell Your Gold And Silver To Weather The Recession

By Eric Hoover

Times are tough. Those who haven't already lost their jobs are concerned they might in the near future. Meanwhile, the cost of living is rising for millions of families. You may be a college student who needs funds for tuition and books. Or, you might be a stay-at-home mom trying desperately to make ends meet. Whatever your circumstances, there may be a solution hidden in your dresser drawers: gold and silver.

Many people have old jewelry, tooth fillings, and coins that contain a healthy store of value due to their gold or silver content. These items sit at the bottom of drawers and are all but forgotten. If you need cash to weather the recession, selling these assets may be the quickest solution. Below, we'll explain why more people than ever are selling their gold and silver. We'll also give you a few tips for selling your precious metal.

Stability In A Volatile Economy

Regardless of the economic climate and the fluctuations of currencies (for example, the U.S. dollar), precious metals experience little variance in value. Of course, prices have risen and fallen over the years, but most economists agree that gold and silver tend not to deviate much from their normal price band.

If you own precious metals, there's a good chance they are worth as much or more than their worth at the time you acquired them. They are a store of value, especially during a recession. Close observers of the market will have noticed that the prices of gold and silver have climbed over the past few years. Now may be the time to sell both for extra money.

Where To Sell Your Assets

There are several ways to sell your precious metals. Many people do so through online auctions and gold parties. Auctions are a hit-or-miss event; your assets may fail to generate interest. Gold parties are usually organized by a host who gathers a group of people along with a local buyer. The buyer will weigh each piece brought by attendees and make an offer.

Selling to online buyers has become far more popular. The process is simple and low-maintenance, and sellers usually enjoy better prices.

Getting The Best Deal For Your Assets

In a way, the online market is similar to a swap meet. There are many buyers who are willing to make an offer for your precious metals. Some will offer a better price than others. Some will be more trustworthy than others. One of the advantages to selling online is that reputable buyers list the prices they're willing to pay. It's easy to compare them.

One note of caution: don't choose an online buyer solely on the merit of the price they're willing to pay. Remember, some are unreliable. Sending your assets to them can be risky if you don't conduct a bit of due diligence. Call them on them phone to personally speak with them. Read the agreement on their website. By taking a few precautions, you'll receive a competitive price while enjoying a problem-free experience. - 23208

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