Where To Buy Gold

 

Where To Buy Gold Below Spot Price

Where you buy it is based on the amount of gold you wish to acquire, and only you will determine that.

If you are an occasional buyer the first method will most likely fulfill your buying needs.

Method # 1

The easiest and less time consuming way to buy is to build a network of connections with those who can supply your gold buying needs. In other words, have others be your fronts, the ones who find the gold.

Places such as pawn shops and jewelry & coin shops are excellent sources for gold that can be bought at a fair price. They frequently buy from the public at prices below spot and many times will resell at spot price.

Building these connections is as easy as stopping by the business, introducing yourself as someone looking to buy gold for investment and leaving a business card with your name and phone number. If you search the web, or look in the yellow pages of your local phone book, you will certainly find these types of businesses to build your network with.

Another connection source can be friends, acquaintances, co-workers, fellow club members, or anyone else you come in contact with on a day to day basis. Tell them you are looking for gold and give them some business cards to hand out. Word of mouth always works!

Method # 2

If you are a frequent buyer, this method is certainly the one you will want to master.

Nearly everyone around you owns gold in one form or another that they will eventually want or need to sell.

In 2010 there was over 1500 metric tonnes(tons) of gold sold by the private sector that was purchased (far below spot price) by pawn shops, jewelry stores, coin dealers and private individuals like you and I.

This gold is mostly in the form of used jewelry such as rings, bracelets, necklaces, pins, broaches and earrings. Other types of gold items are dental gold, wrist watches, pocket watches and class rings.

NOTE: These gold items can easily be turned into bullion by sending the scrap to a refinery in exchange for bars or coins.

Nearly everyone has gold items to sell, and their reasons for selling these items vary greatly. It could be because of divorce, inheritance, cleaning out the house or even just wanting to raise cash to buy something. Many times sellers need cash to pay a bill or even just to put gas in their car!

You’ll be amazed at the number of people looking to sell their gold items.

Once the word gets out that you buy, you’ll be flooded with offers. I rarely have a day go buy where my phone doesn’t ring or someone doesn’t approach me when I stop at the local diner for breakfast!

Most of these items will not be in a pure gold state, with the exception of bullion coins and bars which are often bought from private individuals.

You may occasionally see jewelry items in a pure gold state, but most often it will be a lower grade of gold. The reason is because pure gold is rather soft and can be damaged too easily. Thus, harder metals are added to make jewelry more durable.

In summary, if you want to buy gold well below spot, buying used or scrap items from private individuals is the best way to buy.