Money can be tight around the holiday season. You want to give your loved ones amazing gifts, but can you afford them while still paying for rent and gas? You can make it work, but oftentimes you find yourself a little short on cash after all the festivities. With gold prices not moving too far in the past year, now might be the perfect time to cash in on your investment. Many local pawn shops and cash for gold stores offer new year & holiday bonuses to make it a great time of year to sell gold.
Pawn shops and cash for gold stores often do a lot of business around the holiday season – it’s their busiest time of year. That means they’re usually coming off a profitable time for their company and looking to keep business strong through the beginning of the year. You’ll often see new years and beginning of the year promotions that slim the margins for cash for gold shops.
This can be a tough business, which is why we operate this website in the first place. Not every cash for gold shop is reputable, and many will try pay you as little as possible to increase their profits. The more reputable companies pay flat rates so they can earn a living but also get you a reasonable amount for your valuables. Make sure you find a reputable gold buyer near you to check reviews so you can walk in a smart consumer.
Regardless of how much research you do or what kind of gold buyer you’re dealing with, it isn’t a bad idea to visit the gold shop after a profitable season. Walking in after a shop has made quite a bit of money might make the owners a little less desperate to increase their margins on you. We’d like to think that wasn’t a factor, but it’s human nature, and you can’t be too careful about those things (although we’d really recommend you just find someone reputable from our directory so you don’t have to worry about it!).
As far as where the price of gold will go in 2019 – no one really knows. Many industry professionals are moderately bullish about prices, while others think continued dollar strength and the rising influence of bitcoin will continue to hamper gold prices as a safe haven investment. From our perspective, it’s more or less a guess either way.
When making the decision to sell your gold, you should be looking to get the best price as soon as you can. Historically, other market investments outperform gold, and it’s unlikely for that to change except for brief, temporary periods of time. Will one of those happen in 2019? Maybe. But if you want to bet on an increase in gold prices, you’re better off using financial instruments or ETF’s to do that – not hold on to grandma’s broken necklace.
And as always, before you step foot in a cash for gold shop or send your gold to a mail service, it’s ALWAYS a good idea to calculate the value of your gold first.
Happy New Year, and happy selling!