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Sunday, December 16th, 2018 - Buy Gold - Bringing you trusted gold news and gold investing information since 2006

Scrap Gold: When To Search

When to Search for Gold and Other Valuable Second Hand Gold Hunting Tips

The “When” is almost as important as the “How” when it comes to finding second hand gold. We talked about the importance of showing up early, and that cannot be stressed enough. If you know that a special sale is taking place, plan to be there, ready to hunt for gold, the second the doors open. If a garage sale says “no early birds”, be respectful. Show up maybe five minutes in advance; usually, even the strictest sellers will let you begin browsing a few minutes early. Any more than ten minutes early, and you risk being ejected from the sale.

As for searching for hidden gold at flea markets, be sure to show up as soon as the gates or doors open. If you like to frequent certain markets, be friendly to market operators and see if they can give you any insight about when new items come in. Since many permanent flea markets and antiques malls have sellers that bring in new things on a regular basis, you may be able to gain important insight in this way. Keep in mind that many people who make extra income by selling lots of secondhand items probably buy “new” things from garage sales or from storage unit bulk sales, and these sales usually happen on weekends. You’ll probably find new items on Thursdays or Fridays, after sellers have had a chance to go through their finds, clean them up, and price them in anticipation of Saturday and Sunday, when flea market and antique store visitors tend to come in droves. After some time with experience in a specific setting, you will more than likely come up with a reliable system for making good finds on a regular basis. Cultivate a friendly, honest demeanor and be the kind of person who is a pleasure to deal with, and your new friends in the secondhand business will be eager to help you.

When looking for gold, be sure to carry cash on your person. The appeal of a quick cash sale can make a reluctant seller more eager, while personal checks are rarely accepted at venues other than auctions, permanent flea markets, and antiques dealers. You can usually buy things from dealers with credit cards, but people with items for sale rarely have a way to accept them.

If you have a smartphone, put it to work. Don’t overlook the power of the internet. If you have found a potentially valuable item, you can use your smartphone to aid you in making a good decision about whether or not a purchase can lead to profit. You can find out how much specific items, such as gold or silver coins, are worth. Bookmark your favorite valuation sites for quick and easy access.

Don’t be fooled by sparkling gemstones. Most semiprecious stones are of very little value on the resale market. Don’t be tempted to buy an item for its stones alone, unless you plan to resell the item on an auction site that specializes in used kitsch. The metals are what you are after!

Read the next section, Selling Your Finds.

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