How to Sell Gold and Gold Jewelry
Monetary distress is a common cause of stress and anxiety. It can lead some to consider selling their jewellery. Armbands, trinkets, charms, precious items, embellishments and coins made of gold are some of the items that can be of great value during troubled economic times. In addition to monetary reasons, many people are selling their gold to take advantage of gold prices being at all time highs. Others are simply selling because they realize their gold items are collecting dust in the closet and are of no beneficial use anymore. These are the major reasons why many have opted to sell their precious metal items. This increase in demand has caused a spurt buyers opening locations across cities around the world. Like most businesses, the gold buying business includes some "bad apples" that are out to make a quick buck by being dishonest.
Anyone interested in selling their gold needs to be wary of the buyers who have erratically appeared in the market. There are some necessary precautions that need to be undertaken when you decide upon selling gold. To ensure you receive the maximum amount, be sure to visit multiple buyers. Before you start the shopping and comparing process, you will need to educate yourself you possess and some general market terminology. Every good deal is transacted on some critical arguments. Both the buyer and the seller need to remember key things. Let us begin with you when you are the gold-seller.
Here are some points to remember:
- The weight of the gold you want to sell is always measured by a standard referred to as a troy ounce. Some dealers and pawn shops may use a different system of measurement called the pennyweight. Some others may use grams. A pennyweight measures up to 1.555 grams. You should be cautious about the weight of your gold. Some unscrupulous dealer may weigh the scales in grams but pay you in pennyweight. This leads you to get a lesser amount and unsuspecting sellers like you may fall prey.
- Jewellery is always made with some impurities. Pure gold is hard to blend and is not malleable. It has to be combined with other metals to get the right colour, shine and durability. Most of the jewellery you buy is measured in karats. It is important that you know how much your actual metal weight is in karats before the scrap value is calculated.
- When you are selling a large amount of jewellery make sure you don't sell it all together. Many pawn and neighborhood shops may pay you less by measuring in lump sum. You should separate the jewellery first and weigh each in karats before you sell. This will ensure fairness in price.
- Remember the actual market value for gold on the day you are planning to sell. Many dealers often dupe you by paying you according the last day's price. This can be very disheartening.
- It is very important that you sell jewellery directly to the buyer. Avoid going through a "middle man" who will generate his profit by offering you less. A gold buyer will be more knowledgeable about the vast array of gold jewellery in the market; they can easily access even the most complicated makeup of jewellery. This knowledge is priceless; you will remain satisfied knowing that you dealt with an industry professional when selling your precious items. Most importantly, this will allow you to obtain the most cash.
We at Oren is better are unlike any other gold store. We follow fair practices and there are no middlemen in the process. We are the end buyer. You also don't have to wait for the gold to be appraised and sent to other locations. The evaluation, appraisal, calculation and payments are done on the spot. Selling is done in-house. Our customer-friendly employees are waiting for you. Selling gold has never been this fair and easy!