Many people have an affinity for gold but don’t know much about it.Not knowing a lot about it could really hurt someone.
If you’ve been thinking about selling your gold to a mail-in company, make sure to do your research first. Find out when you will receive your money, and get insurance for your package.
Think about selling gold on the Internet. You don’t have to go to a physical location to sell gold any longer. You can buy and sell your gold at many websites online. The site will mail you a kit for mailing in your items. They will send you payment for your goods after they receive your items.
This can be done over time, and you can see how this can make a valuable investment. Keep it inside a safe location until you get enough of it to cash in.
Have a professional appraise your jewelry appraised before selling it if you do not know how much it is worth. This adds an up-front cost, but it’s important to know what you have. If you still decide to sell your gold, understand you won’t be offered full value it was appraised for.
Don’t have much money? Invest in scrap gold. You can buy a little at a time, building up a stockpile. This will not break the bank. Keep your stash in a safe place until you have enough of it to cash in.
If you’re going to sell scrap gold for cash, do your homework first.
Sell only to gold buyers that are licensed. There are many people who will buy your gold, so don’t feel pressured to take the first offer you get.
If you’re unaware of your gold’s worth, have it appraised. This requires a bit of an investment, but it is worthwhile. Use an accredited appraiser for best results. Do not expect to get the full value of the appraisal, but you should try finding a buyer who will give you an amount as close to the appraisal as possible.
Do your research before you sell. You should shop around to get an idea of what people are selling pieces like yours for similar gold pieces. This will allow you have a price in mind you can work with.
Use a magnet to test inexpensive jewelry to determine if an item is made of gold. Precious metals do not going to be attracted to a magnet. Sometimes a jewelry piece is only the clasp is solid but the rest is plated.This method of testing for that.
You can sell anything that contains gold to gold dealers. Gold pieces can be anything from jewelry to tableware, even home decor. In fact, a gold piece doesn’t have to be 100-percent gold to be worth something. Items that are gold plated or filled are also valuable. You will still stand to make a bit of profit.
Many pieces of jewelry will see the item have a stamp. However, if there are no visual indications, so the reps have ways to determine it. If you see the gold buyer performing an acid test, it’s an indication they are a newer business.
Have all jewelry appraised before selling it to anyone as scrap gold.This is especially true for one-of-a-kind pieces with detailed craftsmanship. Even though there is an appraisal fee, you may get more for your jewelry in return. An appraiser may know someone who will give you a good price for your jewelry buyers.
When considering selling your gold jewelry, you need to figure out if you want to get melt value or sell it as jewelry. Many private buyers and pawn shops are only willing to give the melt value. Don’t lose faith; there is always someone willing to buy the item as an entire piece.
If you’re thinking of selling your old gold jewelry and scraps to a gold-buying business, make sure you look up their BBB rating first. You can find out about certain businesses and be able to read reviews from consumers who have conducted business with them. Pay special attention to any complaints and see if they’ve been resolved. If the purchaser has any unresolved complaints, move on to a different business.
When you sell gold, sort your gold pieces by their value in karats. The value of the gold differs by the karat value of each and if all your gold is weighed together, it won’t be the best value you can get. Gold with higher karat values is more money.
If you send off gold by mail, see how much it is to have it returned to you if the offer isn’t that great. The majority of companies pay for you to send the jewelry to them, but they charge high fees to return it to you. Know what you’re up against before you mail anything away.
Gold purity is measured by karats. The higher the karat, the more pure and the more expensive it is per ounce. You should not just go by the karat stamp. You won’t pay too much for poor quality when you know how to do gold purity tests.
When it comes to purchasing gold, GoldMoney is a site to consider using. This is like opening a bank account for gold. You create an account and fund it; then your account is given some gold at the market price. The gold resides in a bank. From there, you can sell it or do a number of other things with it.
If you wish to sell gold online, double check the prices before moving forward. It is certainly easier than dealing with a mail-only company, but is that simplicity worth giving up a profit in the hundreds?
If your gold pieces are going get melted down, ask to keep the stones. The really small pieces are rather hard to remove, though.
Antique stores may hold valuable gold. You can find bargains in these places. Sometimes, people sell to these kinds of stores because they were unaware of what they had. Their loss can be your gain.
You should know ahead of time that you won’t be able to get the full value for your gold. Gold dealers are a business just like other business. You can expect to get about 50% to 75% of the total value.
Get a good grasp on what you own. Not all that looks as if it’s real gold is as valuable as the real thing. A lot of times, metals are combined with gold to make the piece stronger. The less gold, the less value. This also applies to gold plated items. If you don’t know exactly what you have, consider an appraisal.
Keep your eye on the price of gold prices before you sell your gold. You have to wait for the market favors selling. This means feeling the fluctuation that occurs in gold prices. It’s worth it to take some time to monitor before selling.
Jewelry with higher karat rating is worth more. Make sure you go to sell.
Before you go with one gold buyer, shop around. You’ll be surprised by all the different offers you’ll get. If you stick with your first buyer, you could get a terrible deal. Think about this ahead of time so that you can put the most money inside your pocket.
Take photos of your gold before you let a prospective buyer inspect them. Also inquire about their reimbursement policy should the jewelry suddenly go missing when it’s in the buyer’s hands. Make sure that you have all this in writing for protection.
Make sure you have two copies of the detailed list.
Always read the fine print of any contract so you understand it completely. This is especially important if you decide to sell some of your gold items through a mail-in program. You can then ascertain the amount of fees and commissions you will be charged.
As you can see, there is a lot to know when it comes to gold. However, after reading this article, you now know much more. Use this knowledge to make the best possible choices in dealing with gold.