Are you considering buying or selling gold in the Bay Area? Lately, there have been dramatic rises and falls in the United States economy. Naturally, when stocks are uncertain and the value of the dollar is challenged, Americans want to have more than one way to protect their assets. One of the ways consumers strategize is through buying and selling gold. Thankfully, this is extremely easy to do in the San Francisco area with a few tips.
How to sell gold for the first time
When you are looking to sell gold, the first question you should ask is what kind of gold they buy. Some companies will only select from items that can be re-sold immediately. For example, they may have reasons to refuse items like gold teeth. However, jewelry is a separate category from gold pieces.
If you found pieces of gold from panning, you would need to have them refined, weighed, and certified. However, most people do not need to have their gold refined and certified. In general, stores that buy gold accept such a wide variety of gold related items that most customers will not have a problem selling.
Selling gold is diverse in the Bay Area
San Francisco is extremely lucky to have a wide variety of options for selling gold. In addition to the traditional routes of selling bouillon, coins, and tableware, the locals in the Bay can also sell scrap gold. This includes jewelry in most shops that advertise as gold buyers. However, in South San Francisco, NTR Metals that will take your scrap from almost any source (such as a computer) and will make you bullion and ingots.
When you are a newbie to the gold market what do you need to know before you start? Mainly, you will need to be aware that a lot of gold is sold as plastic sealed ingots. For example, a sealed ingot typically comes from PAMP Suisse or Credit Suisse. It will be in a clamshell package and contain an assay certificate number. It will have the weight clearly printed on the front in grams or ounces.
When you have a larger bank account than most, it pays to sell gold and buy gold as an investment. When you have a stamped bar of gold, it is called “good delivery.” In general, good delivery bars should be sold to banks.
For these reasons, larger banks like Wells Fargo and Credit Suisse have services for “private clients.” If you have large sums of money or gold to convert, your best move is to contact the private client officer at your favorite bank in San Francisco. For large transactions and special services, refer to the corporate office instead of branch locations.
Three places to sell gold in San Francisco
Selling gold locally has three main recommendations. Generally, gold buyers are rated by websites, like Yelp.com, based on their fairness and wide variety of items accepted. Among the six privately owned gold buying locations, three rise to the top of their industry. Keep in mind that all locations close by 6 PM during the weekdays. Due to the increase in selling gold, these buyers are extremely busy. For this reason, be sure to call in advance to alert them you are arriving to sell gold.
Oxbridge House, Inc. – 2001 Van Ness Ave. #411, San Francisco, CA 94109, 415-409-6086 Pacific Foreign Exchange, Inc. – 533 Sutter Street, San Francisco, CA 94102, 415-391-2548 San Francisco Gold Buyer – 318 West Portal Ave, San Francisco, CA 94127, 415 566-1111
Maryam Louise is a former English instructor and materials developer for the Department of Defense Refugee Resettlement and Education Program in Louisville, Kentucky. Since 1997, she has contributed to academic works on the topic of gender. She has been living in the Bay Area since 2009, continuing her 15-year career in media.
