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Important Tips to Consider When Selling Gold

Important Tips to Consider When Selling Gold

2018-06-05

Gold

Commercials and other advertisements for selling gold seem to be quite popular, but it's not always as simple or as lucrative as gold buyers may want you to believe. Remember these tips whenever you're selling gold in Atlanta.

Weight

Most jewelry has some sort of story. However, that's not going to matter to anyone buying your gold. Gold is purchased by purity (karat) and weight. It doesn't matter that a necklace belonged to your grandmother, and it's not important how long that ring has been in your family. A gold buyer is only interested in the value of the actual material, not what sentimental attachments may be associated with the jewelry. When you're selling your gold, you need to approach it as a business transaction and keep emotions out of the process.

Karat

It shouldn't be surprising that 24-karat gold sells for more money per ounce than 18-karat gold. To anyone who knows about precious metals or jewelry that will be obvious. Hallmarked jewelry will already have its purity established and verified. For non-hallmarked jewelry, you can always visit a purity testing center to get your jewelry certified. The certificate will detail the proportions of the different elements that are mixed with the gold, so that you can provide evidence for its purity.

Jewelry

Deductions

Sellers want to make money. That doesn't surprise anyone. As a result, the purchase price will automatically deduct other charges, such as melting, refining, and making. Since these prices are already fixed for the gold buyer, this won't be an opportunity for you to haggle. However, you do have the option to pay for melting yourself.

Conversion

You can always have your gold melted into a gold cube, so that you can try to get the maximum value per ounce. Obviously, you'll have to cover the cost of melting at an induction furnace yourself. You may want to shop around to see what charges you'll be facing. You could discover a better deal than a gold buyer will offer you, but it'll be up to you to determine whether or not it's worth the money, time, and effort.

Receipts

As a general rule, you should always keep your receipts when it comes to buying and selling gold. This will give you a quick way to remember prices offered by sellers that you've dealt with previously. That can be quite useful. Perhaps even more importantly, the receipt covers you in the future if there's ever a dispute. A paper trail is always helpful, since it provides verifiable evidence.

While selling gold and silver in Atlanta can be a great way to make cash, it's not without its intricacies. Be sure to keep these tips in mind, and you'll be in a better position to ensure that you're getting a good deal.

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