It’s common knowledge that anything with gold and silver in it will have a certain value. However, the fact that gold and silver is so valuable means that there may not be a lot of it on the open market. Fortunately, an estate sale is the perfect place to make a purchase knowing that you are not paying too much.
The Priority Is to Liquidate and Clear Out the Estate
Most sellers know what they have on hand and what their gold or silver is worth. However, this doesn’t mean that you still can’t get a great deal. This is because the purpose of an estate sale is to find good homes for those who will appreciate what is available for sale. Therefore, you may be able to get quarters minted before 1965 or a gold necklace at a price that you won’t find anywhere else.
Know the Spot Price to Find the Best Deals
If you go to an estate sale with the intent to find gold and silver at low prices, make sure that you know the spot price for the day. This is the price that you would get if you sold the gold or silver to a retail buyer. This price can be found online or in trade publications. In addition, the entity running an estate sale will have a good idea as to what the spot price is and will price items near market rates.
How Do You Know That You’re Buying the Real Thing?
On a piece of silver, you will see a mark such as .999 which denotes that the piece is 99 percent silver. On a gold ring or necklace, you may see a number such as 10 or 24, which denotes how many karats the piece has. In some cases, the mark will be clearly visible, but you may need a small magnifying glass to find them. A piece made of gold or silver can also have antique value. The team at Prestige Estate Services does antique appraisals and will be able to help you identify items with such value and know what they are worth.
Good Deals Can Be Had Throughout the Sale
It is a common belief that you only get the best deals at the end of estate sales. While you can certainly find good deals toward the end of the event, you shouldn’t wait until then to stop by. If you arrive early, you are more likely to find this popular estate sale commodity than on the final day.
For those who like to collect gold and silver, you can find great deals at estate sales if you know what you are looking for. However, make sure that you have reasonable expectations coming into the event. This allows you to get the best price and the greatest chance for long-term appreciation of an asset if that is your goal.