Need Dollars for Your Gold? Follow These Tips To Get Top Cash for Gold
Sellers of gold bullion and jewellery should always be aware of scammers and cheats in the market of gold buyers. Many can offer you extremely less money for your jewellery by taking advantage of your lack of knowledge. Sellers like you are always second guessing whether they have got the true worth of the gold sold. This is a common feeling among many who have transacted to sell gold.
In order to be a cautious seller you should keep certain things in mind that may help you get top dollars for your gold. Gold prices are hitting all-time highs and consumers are selling gold to lock in favorable profits. On the other hand, things are getting a little trickier with rising scams and disgruntled sellers. To avoid a sticky situation, remember the following things. Before you feel tempted to melt your valuables read these points to stay ahead of the game.
1. Be careful of buyers who are on the move. These buyers and shop owners open temporary stalls at conventions, events and have representative at private parties or gold parties. They trip up consumers and often use incorrect scales and valuation practices. They often have tried and tested tactics of catching unsuspecting gold sellers like you who are looking for some fast cash.
2. Try to always appraise items which are more ornate, carry gemstones that are unusual. Most of the time, if you are in desperate financial crunch, you often rush to the nearest gold store to get cash in exchange of your gold. Majority of companies offer you scrap rates of gold. This is based solely on gold content and weight of the jewellery item. The labor costs or the intricate jewellery design charges are not accounted for. Sometimes, these buyers also don’t take into account the gems and stones studded in them. This leads to a faulty assessment that gold sellers like you fall prey to. You should always take your gold to an independent assessor and find out the real price. Only a true assessment will come in handy so be careful.
3. Always assess gold rates for that particular day before you sell your gold wares. You can check websites or even go to dealers to confirm the rates for that day before you embark on a selling spree. Investing sites are also a good start in this regard. Do not expect to get the full market price but always remember that the company which buys your gold should not get more than 25 per cent of the profit. See and search for best rates across stores in the city. You might be desperate for cash, but being intelligent always pays.
4. Make sure you review the policies of the central gold bureau or the agency that controls gold transactions and reviews deals. These agencies can be found internationally, nationally and even locally across countries. Consumer protection agencies are also plentiful in many cities. Register complaints if you find any anomalies in the negotiation process. Before you strike deals and sell jewellery, you should be aware of policies that govern such transactions. An educated seller is hard to deceive. So remember to check the measures, scales and even the authenticity of the dealer across the table. This will help you ensure the correct valuation for your gold.
5. Sometimes certain shops or companies have a very strange policy of holding onto the gold jewellery even before the money has been paid in exchange. They keep the precious items for a set period of time. This can be very inconvenient for you when you are the seller and can cause many problems. You should always seek a buyer who does the valuation on the spot and in front of you, then pays you right away on the spot. Be sure of what you are getting into. Know the buyer well before you sell. A little knowledge always pays!
Since the Internet is the best guide today when it comes to selling and buying gold, research buyers in your city or even ask people around for information about selling gold items. Research and find out how the gold store or the company you have chosen fares in reviews of among past clients. Knowing the reputation of the store is always an option you should exercise. Always visit a few buyers before making your final decision, this will ensure you are able to evaluate this different prices the market is offering you. With these tips, cash for gold can now be an easy proposition for you!