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Helpful Tips for Selling Gold

Helpful Tips for Selling Gold

2018-03-23

Selling gold is a great way to clean out your closet and make a little extra money. Lots of people have necklaces they never wear, earrings that don’t have a match, or watches that are out of style. These spare items you never even look at anymore could become cash in your wallet. If you’re considering selling gold, here are some tips to keep in mind.

Gold jewelry

Be Certain

Never decide to sell gold on a whim. Jewelry often has sentimental value and if you sell it for parts, it’s gone forever. Make sure that if you're thinking about selling gold that the money you will receive for it is worth more to you than the value of owning it for yourself.  

Do Your Research

If you have decided that you definitely want to sell gold, it’s a good idea to get an appraisal for it. You want to know how much it will be worth. Sometimes, an antique piece of jewelry is worth more as a whole object than its parts. Also, before selling, you want to know how many karats the item is. Usually, gold in the United States is ten, fourteen, or eighteen karats. Only the parts of the item that are real gold will be worth something. Prior research will help you know what to expect before selling.

Pile of gold

Find a Good Buyer

When selling gold, make sure you're selling it to a reputable business so that you can get your full money’s worth. You have to have a license to buy gold, including when selling gold in Atlanta, so check to see if the business you are dealing with has one. You can also ask if the company is a member of a jewelry trade association to see if they are reputable. If you do a little research, you can avoid getting scammed and ensure your gold is going to a good place.

Use Caution

You don’t have to sell to the first company that makes you an offer. Compare multiple offers from different businesses to get the best possible price. Also, make sure that your sale is well-documented. Have pictures of what you sold, copies of the appraisal, and appropriate documentation. This could save you trouble later if the items are lost or stolen.

Selling gold can be a tricky business. There’s a lot to keep track of and a lot to lose, but if you follow these simple tips, it can be a profitable venture. If you’re looking to sell gold in Atlanta, look for a place like Elan Diamond Group that has decades of experience.

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