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Gold doesn’t do much good for you when it’s left untouched in your home for years. Rather than let it sit around, you may want to trade it in for cash. But where can you sell your gold? And how do you know you’re getting a good deal? There are a few different factors that you should consider when you want to sell gold in Atlanta. Keep reading to learn what to keep in mind to ensure you find the right buyer for your precious metals.

How Selling Gold Works

Before you begin looking for a buyer, it helps to have a working knowledge of how gold prices are determined. This will help you to determine if a buyer if offering you a fair price for your gold. As the global economy changes, the prices of precious metals such as gold and silver also fluctuate. Typically, gold buyers offer a certain percentage of the price of the metals at a given time. The percentage of the money that the buyer keeps is compensation for their work. If, for example, gold is selling at $1,000 per ounce and a buyer advertises a 65% payout, you would receive $650 for every ounce that you sell. With this information, you can find the gold buyer in your area who is offering the fairest prices.

Biggest Payout

Now that you know how gold prices are determined, you can begin searching for the best buyer in your area. Naturally, you want to get the most you can for the gold you are selling. Visit a few gold buyers in your area to see how much they will offer you for your gold. Then, see where you can get the most money. Keep in mind, however, that the payout isn’t the only thing that matters. You also want to consider the quality of the buyer and shop, too.

Gold jewelry

Reputation and Honesty

This is one of the most crucial considerations to keep in mind. Honesty and having a good reputation often go hand in hand. After all, a business owner can’t be held in high esteem if they’re dishonest. Having a positive reputation also involves keeping up to date with the latest industry trends, providing reasonable payouts, and offering excellent customer service. You should always try to work with businesses that respect their customers and treat them fairly. To learn more about the reputation of a prospective gold buyer, get recommendations from friends and family members and read online reviews from previous customers.

Location

Lastly, you should try to find a shop that’s located close to your home or work. The last thing you want is to drive miles and miles just to get to the buyer. All of the money you spend on gas will only cut into your profits. You may also want to factor in their hours of operation. You shouldn’t have to take time out of your busy workday to sell your gold. Instead, try to find a shop with convenient hours on nights and weekends.

If you have gold that you want to trade in for cash, visit us at Elan Diamond Group. We offer fair prices for gold and more, so contact us today!