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Things to Keep in Mind While Buying Gold

Things to Keep in Mind While Buying Gold

2018-03-27

When gold prices are down, it's the time to buy. However, buying gold can get tricky if you don't know much about the precious metals industry. Sometimes, people can get fooled into buying gold and silver that is unrealistically overpriced. A common tactic by unfair jewelers is trying to sell you a lower karat item for the price of a higher one. If you have all the right information when you walk into your local pawn shop or jewelry store, the odds will be in your favor. There are several nearby businesses who buy gold with cash in Atlanta, but not all of them will offer you a fair deal, so it's best you come prepared. 

Pile of gold items

Negotiating on Prices the Right Way 

For those who are unfamiliar with gold karats, it may be easy to overlook obvious signs. The easiest way to determine item karat is by looking for hallmarking on the inside of a jewelry piece. Hallmarking refers to the information imprinted on jewelry, including the gold purity, manufacturers name, and even the year that item was hallmarked, However, sometimes, that information is missing, difficult to see, or faked altogether. You can find almost anything in a pawn shop, even items from other countries, which do not necessarily follow rules imposed by the Bureau of Indian Standards. While this information can be faked, gold purity cannot. There are several tests that can determine the real purity of an item. Since 24 karat gold refers to pure gold, anything lower means that other metals are present, many of them being magnetic. This means that a typical jewelers magnet will cause some sort of reaction from an item if the purity is lower than 24. However, often, those extra metals are not magnetic, such as zinc, which means you only have 2 choices left: either cut the piece open and drop specialized acid on it, which most jewelers will not agree to, or buy your gold from a trusted jeweler. If you don’t know where to buy gold in Atlanta, we suggest looking at some reviews. 

Gold jewelry

Getting the Most for Your Money 

Jewelry scams are common, which is why you have to be very careful. A common rule of thumb is: if the deal seems too good to be true, it usually is. Purchasing gold items from random people on the internet is the easiest way to get scammed, since you're never working with a professional jeweler. Businesses who buy gold with cash in Atlanta, such as the Elan Diamond Group, live based off reputation, meaning they have to provide you with honesty and professional service. Even if you do not plan on walking in but have general concern about an item you wish to buy, feel free to call one of your jewelers and ask for some professional advice! 

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