Ways to Make Money Reselling Gold
Jun 26, 2009

A flea market is a great place to buy and sell gold
Believe it or not, you can actually make money reselling gold. If you enjoy thrift shopping and treasure hunting, and the idea of making money reselling things, then you might like to sell scrap gold or resell jewelry for a living.
It’s not as difficult as you might think to make a living buying and reselling gold jewelry. Many people underestimate the value of their jewelry when they are “spring cleaning,” so you can often pick up real gold jewelry far under its value at garage sales, flea markets, and thrift stores. You may even find the occasional gold jewelry offered for free on Craigslist or Freecycle. Many people don’t know or care what they have — they just want to get rid of the clutter and get the jewelry out of their sight!
Once you have the jewelry, you have a few choice on how to resell it. If it’s a valuable vintage, rare, or high-end piece, you will probably make the most money reselling it. There are a variety of options for this, including eBay, flea markets, local open air markets and craft sales, a booth at an antique store or antique mall, or even from an online store.
Even if the piece isn’t worth much in its own right, though, its materials still have a certain value. You can therefore take the jewelry to a pawn shop and sell it as scrap gold. This option will be better if you didn’t pay very much for the jewelry, though, so be sure to keep this in mind when you are purchasing gold to sell and don’t know how much the piece itself is worth!
Finally, if you make money buying and selling gold, technically you are a small business owner, so you need to start thinking of your operation in business terms. This means taking into account the time and gas you spend searching out gold to resell, and making sure you don’t spend too long or drive too far acquiring gold. The more time and gas you spend, the more it cuts into your profit margins!
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