How do I Buy and Sell Gold and Silver in Cleveland, Ohio?
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The American eagle is the most popular silver coin in the U.S.American Eagle Silver Proof Coin image by Luke Haverkamp from Fotolia.com
Find out the current spot price for 1 ounce of gold or silver by going to www.monex.com and familiarize yourself with the most widely traded gold and silver coins. That way before you approach a coin dealer you will already know which coins you prefer to buy and have an idea of what is a fair price to pay. If you are selling jewelry you will have a rough idea of what it's worth based on the weight and purity. Like the stock market, gold and silver prices are constantly fluctuating. The dealer will likely respect you more for having done this basic research before entering a transaction. - 2). Go to the telephone book yellow pages or use the online version at www.yellowpages.com to find a list of coin dealers in the Cleveland area. Currently about 60 of them are listed. These days, many jewelry store also will buy your unwanted gold and silver. If you are buying gold or silver coins or bars it is a good idea to call several dealers to find out if they have what you are looking for in stock. If you are selling gold or silver you'll want to see who offers to pay you the most. Coin dealers make a profit by buying your precious metals at a little less than the current spot price and selling to you for a little more than the spot price. So compare prices from one dealer to the next.
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After settling on a buying or selling price the dealer will expect a prompt transaction.gold coin image by Greg Pickens from Fotolia.com
Lock in your buying or selling price once you decide which coin dealer you feel most comfortable with or offers you the best price. Once you make a commitment to buy or sell from a dealer you should complete the transaction as soon as possible. If the price of the precious metals you have agreed to buy goes up after you've settled on a price, an ethical dealer will probably still sell them at the lower price. However, they may not always agree to buy gold and silver at the higher price if values fall dramatically between the time you settle on a price and physically bring in the items you want to sell.
