Selling Locally vs Selling Online
Selling gold locally and selling gold online each has its advantages and disadvantages. The choice between the two methods will depend on various factors, including convenience, security, pricing, and personal preferences.
Advantages to Selling Locally:
Immediate Cash: Selling gold locally often means getting paid instantly, which can be helpful if you need money urgently.
Face-to-Face Interaction: You can directly interact with the buyer, which may increase trust and allow for negotiations.
No Shipping Hassle: You don't have to deal with shipping your gold, reducing the risk of loss or damage during transit.
Disadvantages to Selling Locally:
Limited Market: Depending on your location, there might be a limited number of local buyers, potentially reducing competition and affecting the price you can get.
Lower Prices: Local buyers may offer lower prices compared to online platforms since they might have higher overhead costs.
Security Concerns: Meeting with strangers in person carries some inherent risks, so it's essential to take safety precautions during the transaction.
Selling gold online provides numerous advantages over traditional methods. Reputable online buyers prioritize user security and employ encryption technology to protect sensitive information, ensuring that personal and financial data remain safe during the selling process. Moreover, at Cash for Gold Mailer we have robust buyer guarantee policies that allow you to sell your gold only if the price we offer is up to your standards, otherwise it is returned quickly and securely. By adhering to best practices and choosing established online buyers with positive track records, sellers can mitigate the risks associated with online transactions and confidently engage in a fast and secure selling experience for their gold items.
Stock Market Performance
What if you had sold your gold and invested in the stock market 10 years ago? Despite all the people that love to say “gold always goes up” – traditionally, it just hasn’t gone up as quickly as other investments. Take a look at returns over the past 10 years.
10-Year S&P Return: 169.17%*
10-Year Gold Return: 11.53%*
So if you had sold your gold 10 years ago and invested in the stock market, you’d be way ahead right now.*
Performance is never guaranteed of course, but historically the average rate of return of the S&P of 12.3% significantly outpaces gold’s returns of 5%, while also being a more liquid financial holding. If you had purchased a one ounce bar of gold for $1650, it would be worth $1960 today. Not bad, right? Well, if you had put that $1650 in the S&P 500 instead, it would be worth $4441. Ouch. That's a lot of money to lose.
* Data as of July 22, 2023.