Gold has been used as a form of money for many centuries. It ranks highest in terms of liquidity amongst all precious metals. This is one of the main reasons that people buy this metal so that they can get money whenever they need it. Although the prices of gold fluctuate depending on the volatile market conditions, its value has been steadily rising in the past several years. This is one of the reasons many people are cashing in and selling their jewelry. It’s very important for individuals to be well informed about the value of their gold in current market conditions. This will help you feel comfortable that you’re getting the market value of your pieces.
Before you get ready to sell your gold, there are a few important factors to consider so that you don’t get deceived. The key to successfully selling your precious metals is research. You need to research many factors before you sell your pieces. The first thing that you need to do is to take your items and get it evaluated for its purity from a jeweler. There will be variations in each of their estimates and they could be drastic. However, make sure the individual who is assessing your jewelry is reputable and accredited. You should pay close attention to the amount of karats or gemstones that are present on your items.
Another way to get money for this precious metal is through gold parties, which is a common practice in the USA. These parties are hosted by a buyer, where the participants are the sellers of their precious metal. You can either get cash as quoted by the host or end up swapping your jewelry for some better designs. There are no guarantees in this system and not recommended.
Scrutinizing the jewelry will also pay off in the long run. Look out for karats and hallmark indications that are present. You can also use a jewelry test kit to ascertain the purity. Look for marks on clasps, backs of pendants, insides of rings, etc. After a preliminary examination, you need to detach all gemstones from your items. This is important because it is quite probable that the buyer will add the weight of gems to the weight of the metal and you will get paid less in the process. Each stone or jewelry piece should be assessed separately.
The next step is weighing the amount of gold that you wish to sell. It’s best to use a digital scale for precision and accuracy. After you have weighed the metal, you need to calculate the purity of your items. Most buyers will purchase your items to make a profit. However, the profit margin may vary from buyer to buyer. They may offer 90%, 80%, 75% or even 65% of the gold value. Research comes in handy here, as you need to know who is offering the best value. This is where we help out and offer Free Assessments for all of our clients. Different jewelers will offer different values, we at Oren abide by all ethical procedures and offer the highest cash offer among all jewelry buyers as we buy in large volume. It’s important that any buyer be transparent in their dealings and to educate the client on all matters. You can be assured of fair deals if you choose a renowned and reputed buyer, such as Oren.