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If you’re low on cash, a good way to earn it fast is by selling your gold jewelry. Sometimes, that jewelry is hard to part with, so getting a loan seems like a better alternative. However, before you walk into any establishment that buys gold for cash, you need to prepare yourself by doing some research. Some of the main concerns with selling gold, or getting a loan, include unfair pricing and scams. Loans come with interest, usually ranging anywhere from 6 to 25%. If you call around and ask before trying to sell gold in Atlanta, you can save yourself quite a bit of time.

Appraising Your Jewelry before Negotiating

Knowing the worth of your jewelry piece is the most important thing when it comes to selling it. Don’t let an unfair jeweler take advantage of you by giving you the wrong price. With loans, some establishments may offer a lower percentage, but try and make their money by overpricing the item. The first thing you need to do is determine the weight of your item. Since jewelry usually weighs a few grams, you should get a gold scale to determine its exact weight. Every decimal counts especially on higher karat items. After that, figuring out the karat itself is the next step. You can do this by looking for a small stamp on the inside of the jewelry piece, or sometimes on the back. Several markings should indicate the karat, if you can’t find anything, know that this will raise suspicion amongst jewelers, since most authentic jewelry comes with some sort of markings. Use an online source to determine what those markings mean. Most values should be between 10k to 24k, which is the standard U.S. marking style, although it could be different. A key thing to look out for is plated markings, something like GP, because jewelers don’t deal with plated gold. While browsing the web, check the gold stock, this is where you’ll find the price of your karat, in grams. The last step is simple, just multiply the total weight of your jewelry piece by the karat price indicated online. This will give you the approximate current value of your item. When selling gold in Atlanta, knowing its value will help you identify unfair jewelers.

Selling versus Loans

Keep in mind that selling your item will yield more cash, since loans charge you a percentage. If the item means a lot to you, then don’t offer it up for a loan unless you’re sure you can get enough money before the window to get it back expires. Sometimes people are too late, and this results in losing the item for good. Knowing all of this, you can feel a lot safer when SELLING GOLD IN ATLANTA, or getting a loan, because in either case, dealing with an honest jeweler is the safest way to go.