One of the biggest concerns when it comes to selling gold is being a victim of a scam. For those who don’t know how gold jewelry is appraised, it’s difficult to understand how an unfair jeweler or pawnshop owner can take advantage of them. What you need to know is that the value of gold changes on a daily basis, meaning that your gold jewelry may be worth more, or less, tomorrow. If you try to sell gold in Atlanta without knowing this information, you’re setting yourself up for an unfair deal already. However, this isn’t the only way an unfair jeweler can try to tip the scales.
Know the Worth of Your Gold Jewelry
Before you make any phone calls, or visit any establishment which buys gold for cash, you need to know what you item is worth. If your jewelry is authentic, figuring out its worth is relatively simple. All you need is the gold karat which your jewelry piece is made from, the current market value of that karat, and the total weight. To determine gold karat, you’ll need to look for a small stamp indicating gold purity, usually found on the back or inside of the jewelry piece. Some markings are easy to identify, such as 24k or 14k, but others are not. If you find yourself dealing with an unfamiliar stamp, doing a quick online search should clear up any confusion. Next, you’ll need to identify the current market value of that karat, which can be done by looking up today’s gold stock prices. After you have those two pieces of information, the last thing to do is calculate total weight. Since gold jewelry is weighed in grams, you’ll need a certain scale for this, which can either be found online, or your local smoke shop. Multiply the total weight times the current market value of gold and you’ll know the approximate value of your jewelry piece. You must also understand the most businesses you deal with when selling gold in Atlanta won’t offer the full value of your item, but some will go up to 90%, especially if they’re interested in keeping you as a customer.
Dealing with Diamonds
Many jewelry pieces come embedded with precious stones. The majority of businesses who buy gold for cash make their profit by selling old jewelry to gold smelters, meaning that diamonds are not really their business. If you’re planning on selling your old gold jewelry for its weight in gold, take the stones out. Some trusted establishments may offer the take the stones out for you, but others may simply tell you those stones aren’t worth much, or make it look like the jeweler is getting a worse deal because those diamonds are adding extra weight to the jewelry piece. On a final note, if you want to sell gold in Atlanta, reading up on reviews of companies you plan on working with is a great way to avoid getting scammed.