Need Money For Your Small Business? Sell Gold

Do you need cash for your small business? Whether you want to start a new business or need an influx of cash to buy supplies for an existing small business, selling gold may be the answer. However, there are several factors to consider when it comes to selling gold. Here's a closer look at how you can sell gold to raise much-needed capital for your small business.

Why Sell Gold?

Gold is one of the most valuable metals in the world and has been used as a form of currency since ancient times. Today, if you need money in a pinch, selling gold can fit the bill. In fact, your other options can be expensive in terms of fees and interest, including:

  • Credit card cash advance
  • Personal loan
  • Borrow from family
  • Home equity line of credit

By selling gold, you can get a better return on your investment than you would with any of these other options. So if you aren't using your gold anymore, sell it and invest the money in your budding business.

What Type of Gold Nets The Most Cash?

The type of gold that nets the most cash depends on its purity and weight. Gold coins typically net more money if they are collectible or rare. Most gold, however, is sold for the 'melt value' or the value of the jewelry, by weight, once it is melted down. Additionally, because 24-karat gold is pure, it is more valuable than lower-karat options, like 18- karat gold, which only "contains 75 percent gold and 25 percent other metals."

Where to Sell Gold?

Once you have decided to sell gold, you need to know where to go. Research local pawn shops, jewelry stores, and reputable online buyers that offer fair prices. It is also important to research the current price of gold per ounce before selling to understand the market better. It is important to note that you will not be paid market value but rather a percentage of the current price. The buyer will incur the costs involved in melting your gold jewelry and marketing it for re-sale.

Additionally, you may even want to consider seeking an appraiser who can accurately assess your gold's value before putting it up for sale.

Selling gold is a great way for an entrepreneur to grow their business quickly. Ultimately, with careful planning and strategy, selling gold can be a great way for a small business owner to infuse cash into their growing business.  

For more info about how to sell gold, contact a local company.