With gold prices at a record high you may decide you want to sell your gold, be it jewelry or some coins you may have stashed away. Due to this very increase in price more and more gold purchasers have started popping up and not all of them have your best interests at heart. There are so many new gold buyers appearing on the market because it is fairly simple to enter the business as you only need a pawn broker license or a second hand dealer permit making it easy for anyone to set up shop wherever.
How to Sell Gold Jewelry
The transaction itself is simple as daylight. Sell your gold and get the money. Still, the fact is that you desire to sell your gold for the best possible price and to make sure you are not being taken for a ride.
The first suggestion you should follow thoroughly is not to fall for late night infomercials offering to take the burden off your hands. The major mistake people make is making an uneducated evaluation without prior research into current gold prices and how much they can get for their jewels. Plus, jewels can often have a higher value than just the pure gold content because, for example, an old piece might be worth much more. However, this can only be judged in person and by an experienced gold buyer.
Another issue you will face when you sell your gold is that some of these businesses will pay you a immorally low rate of 18% – 20% of the value of your gold contrary to an established purchaser who will pay the going rate of 50% – 60%.
To make certain you get the right value for your jewelry and do not get ripped off when you sell your jewelry you should inform yourself a little in regards to today’s gold prices. You must also go to a number of different dealers to get an appraisal or at the very least weigh your jewelry at home on a kitchen scale, find out the karats of your piece and then work out the bare minimum you should receive according to the price of gold.
If you are not sure where to sell gold the best option would be to contact an well-known buyer whose business is for the most part gold buying. Make sure to investigate the company behind the website as well by checking the Better Business Bureau’s website to determine if any complaints have been filed against the buyer you are considering doing business with.
Where to Sell a Gold Medallion
If you possess a gold medallion that you think may be worth more than the gold content because it is an estate piece then you really ought to consult two or three different, experienced gold buyers for an estimate. It would be a shame to sell a precious piece just for the gold when you can get so much more. This applies to any piece of jewelry.
The best way to guarantee you will sell your gold for the right price is to go with a reputable gold buyer who has plenty of experience. A gold buyer with a track record spanning many years is clearly not in the business of scamming people or he wouldn’t have lasted. Protect yourself and sell your gold for the best possible price by not falling for the hype.
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