Archive for the ‘Sell Gold’ Category

Selling Your Gold For Cash

February 25th, 2012

The price of gold is on the rise for some time now. You may have seen many TV ads that yell “Cash for gold!” But a majority of sellers receive only a fraction of the promised sums. This is why it is important that you have an idea of the best places to get maximum cash for gold. This article provides a comprehensive overview of the best places to get the maximum cash for your gold.

In times of an economic crisis, gold is seen as one of the safest investments out there. The gold price rocketed even during the recession in the recent past. This has encouraged companies offering cash for your gold to flourish on the market. It has enticed the average consumer to flog old jewellery and make good money in the process. Even scrap gold is worth its value in gold when melted down and turned into bullion. But you need to remember that gold prices fluctuate similar to other commodities out there. If you cash in right now, you may gain more or lose out in the future. But know one can predict it 100% accurately. This is why you need to keep a close eye on the market trends when you plan to sell your gold for cash.

The gold buying companies buy old gold jewellery, scrap gold or any other form of gold and melt it down and flog it on for more money in the long run. It means that you can get good money for broken and unloved old jewellery by selling them to such a company. But you need to be careful when choosing a company to sell your gold. It is a Wild West out there where the gold buying companies are concerned.

Make sure you get several quotations from reputable gold sellers before selecting the best company to deal with. Jewellers are a good place to start receiving the quotations in this regard. You can get a rough idea of what price you should expect when selling your gold. Competition is quite fierce in some places. You can get a good deal if you do your homework before choosing the best company to sell your gold.

You may find so many websites that offer cash for your gold. You will first be given a quote online. Then, you need to post your gold for verification before getting an offer. You need to exert utmost care when dealing with such companies since most gold sites are quite unreliable. Look for customer reviews and testimonials on these websites before you select the best company to cash in your gold.

The Better Business Bureau (BBB) of America states that the consumers should be extremely cautious when selling their gold for cash. Most service providers will not offer you the best deal unless you know what a good deal is. Here are some important tips provided by the BBB to get the best deal when selling your gold. The weight of gold often helps determine its value. In fact, most jewellers use a measurement unit known as a Troy ounce to weigh gold. The U.S. scales will measure 28 grammes per ounce.

Gold is measured at 31.1 grammes per Troy ounce. There are some dealers who use a system of weight known as pennyweight (dwt) to measure the Troy ounce whereas other dealers use grammes. In fact, a pennyweight is equivalent to 1.555 grammes. You need to be alert about all these weight measurements when selling your gold as most dealers use sneaky tricks to pay you less for more weight of gold.

Knowing your carats is also very important when you decide to sell your gold for cash. In fact, pure gold is too soft to make jewellery. Hence, gold is mixed with other alloys when making jewellery. It creates color and durability in the jewellery. The Federal Trade Commission (FTC) requires that all jewellery sold in the United States describe a carat fineness of the alloy. One carat equals 1/24 of pure gold by weight. If you have a 14 carat piece of jewellery, it means there are 14 parts of gold and ten parts of another metal in it. Any piece of jewellery that contains less than ten carats cannot be labeled as “gold jewellery” in the United States. This is why you need to know the carat value of your jewellery before selling it for money.

Never let the dealer weigh different carat values together. Most dealers weight different carat values together and pay you for the lowest carat value. Make sure you separate the jewellery by carat value before you decide to sell it for cash. Know the current value of gold before you decide to get cash for gold. Call a local jewellery store or check online for the latest prices of gold before selling your jewellery. Most dealers prey on uneducated buyers and offer a lower value than the current market rate. Shop around before selecting the best company to sell your gold for money. Do not sell to the first dealer you come across. Do your homework and be prepared before selling the jewellery.

In conclusion, gold fetches an attractive price on the market these days. Many people sell their old gold jewellery and scrap gold for good money. This article highlights important tips to consider when selling your gold for cash.

Facts About Selling Gold To Get The Best Price

February 16th, 2012

Gold is widely considered as one of the safest investment options among various asset classes. This is the reason that the price of gold has been on a constant upswing ever since the global economic downturn. The rising price of gold has offered many people, who had earlier invested in gold, a chance to get good return on their investment.

This has also given rise to a number of gold buying companies but some of them are not honest when it comes to giving the right price to the seller. Therefore, if you are looking to sell gold, you should be aware of various facts about selling gold to ensure that you get the right price for the gold. Here are a few facts about selling gold to help you get a good price for jewellery and scrap gold.

Facts about Selling Gold

There are a number of places where you can go to sell your gold. These places include a pawn shop, a jewellery store, a gold buying party, online gold buying companies as well as mailing your gold to a gold buying company. An important thing that you need to keep in mind is that when you are selling your jewellery, you will get money only on the basis of gold content in the jewellery and not on the basis of brand name of the jewellery.

One of the best places to start is a jewellery store. It is important that you check the reputation of various jewellery stores in your location before visiting them. If you are not aware of the purity of gold, check for the stamp on the jewellery. The purity of gold jewellery is mentioned in karats. 24 karat gold means that it is 100% pure and there is no impurity. On the other hand, 18 carat gold means that there are 18 parts of gold and six parts of other metals.

You should take everything you have into a reputable jewellery store and ask them to take a look. They can test the gold on the spot with a gold tester or an acid test. They will tell you the weight of the gold and how much they are willing to pay for it. In case, you have a diamond centre stone, you should also take all the diamond certificates with you.

It important that you do not sell your jewellery to the first store you visit. You should visit multiple stores to get the best deal for your gold items. However, even if you find a jewellery store that is offering you a better deal than the rest, it is important that you do not sell gold on the spot.

You should now check the rate of gold online and search for various companies that offer cash for gold. Give them a call and ask them to give you a rate. Since these companies have low overheads as they operate online, it is possible that they will give you a better deal as compared to the jewellery stores. However, all of these companies are not what they say they are and you need to be careful by checking their reviews and reputation before you decide to proceed.

In case you are not getting a better deal online, you should try to sell your gold to a jewellery store. Keep in mind that some jewellery stores may try to charge you a handling fee or a fee for testing your gold. You are not required to pay such fees. Also, when they are weighing your goal, you should see the scale and make sure that the weight is right.

Some of the jewellers also offer a higher rate in case the seller decides to buy something from them. Do not fall for this as you are there to sell your jewellery and not buy something that you do not need or want.

Due to the rising price of gold, gold buying parties are also becoming popular. Usually, people bring a company to their home and asked their friends and others to come over to sell their gold. The host usually gets a percentage of the value of the gold that the company buys there.

Before going to a gold buying party, it is important that you weigh the gold and separate it by karats. It is important that they do not mix different gold karats. Also, check the scale they are using to weigh the jewellery. After weighing the jewellery, ask them to give you a rate. Only sell the gold if you are getting a good deal.

Another option to sell your gold is to mail out your gold to a gold buying company. These companies usually advertise a number where you can call and get a pre paid envelop for sending gold. Once your gold reaches them, they will weigh the gold and give you an offer. In case you are not happy with the offer, dale they will send back the gold but you may be responsible for paying shipping as well as insurance.

Before mailing out your gold, you should take several images of your jewellery from various angles and weigh it before sending it. This is to ensure that you get back the jewellery that you send them. It is also recommended to get a price from a reputed jewellery store before you mail out your goal.

Pawn shops are another option. However, they are not in the business of buying gold. You may pawn your jewellery to get some money. The pawn shop is going to sell your jewellery in case you do not return the money with interest. You are likely to get the lowest price for your jewellery at a pawn shop.

Overall, if you have some scrap gold or gold jewellery that you want to sell, keep the above-mentioned facts about selling gold in mind to ensure that you get the best price for your goal.