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How to Sell Gold

February 17, 2012 | Comments: 0 | Views: 180

With the price of gold reaching unprecedented heights in the last few years, people in dire need for money are considering gold as a popular option to meet their urgent monetary requirements. With increase in popularity of gold in the investment portfolio, a large number of people worldwide are willing to buy the precious metal. Although you might consider selling the gold jewelries, coins or bars to a local jeweler or an online gold trader, before parting with your prized belongings carefully consider the factors that ensure that you get the right price.

How to Sell Gold

Verify the credentials of a buyer

Rogue buyers often try to dupe novice gold sellers by offering unusually high prices of the metal. They might run ads and set up temporary shops. Hence, before you sell gold always check the credential of the buyer. You can visit the local business bureau and check if there is any complaint against the gold dealer.

Check the gold price

Even when you sell gold to a legitimate gold dealer or jeweler, it is advisable to compare the prices offered by three or four stores. While soliciting a bid in a pawnshop or online, make sure that you know the correct base price of the yellow metal.

Check the scale

Although the Department of Weights and Measures in most areas periodically monitor the weighing scales, nonetheless, it is always advisable to observe the weighing scale closely when a jeweler or gold dealer weighs the gold.

Know the different measuring units

While the gold prices are commonly depicted in grams, some jewelers and buyers might use traditional units for measuring the metal. Usually jewelers tend to measure in Troy, where one troy of gold is equivalent to 31.1 grams. Some gold dealers even use pennyweight (1.555 gram) to measure gold. As the weighing and pricing process involved in buying and selling gold involves lots of calculation, keep you calculator ready to do all the calculations yourself.

Separate jewelries according to karats

Before you sell several gold ornaments, separate the jewelries according to their individual karat value. Sometimes buyers deceive sellers by weighing all jewelries together and determine the price according to the value of the lowest karat item.

Historical value, if any

Gold items often have a historical value. These antique gold jewelries and accessories usually fetch a significantly higher price than the base price of scrap gold. Auction houses or online auction sites are the best places to sell antiques.

Do you need some cash fast for your unwanted, broken, tangled, or damaged jewellery lying in the bottom of your jewellery box? Sell Gold offer a fast, friendly and reliable service providing cash for gold. Take advantage of the current high value of gold and get more money when you sell gold for cash.

Source: EzineArticles
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