The trade of gold continues to rise in popularity due to difficult global economic uncertainty worldwide. You may feel that investing in gold as a smart thing to do but lack the knowledge of how to do it. Read on to learn more about this market.
If you intend to convert your gold jewelry into cash, you’ll have to choose between selling it as jewelry or for the “melt” value of the gold it contains. If you are selling to pawn shops or most private sellers, expect them to offer the melt value. Never let this dissuade you, however, as you are sure to locate an appropriate buyer eventually.
Get an estimate from a few buyers before selling your gold. There are quite a few stores selling jewelry or that buy it, but prices vary from one professional to the next. Getting multiple offers allows you make sure that you receive a fair price.
Sell Gold
Find out if the firm you are mailing your gold to will ship it back, and how much that will cost. Many companies will pay for your postage when you send but charge a high price when they return the piece to you. Be certain you know exactly what those fees will be.
Think about selling gold on the internet. You don’t need a store to sell gold. There are quite a few websites out there that will buy and sell gold. You will receive a package that details how to send your gold pieces.
If you want to send jewelry to a gold company via mail, research them and their terms before heading to the post office. Find out when you can expect your payment, and get insurance for your package.
Remember to look for gold in thrift and antique shops. A smart and educated gold shopper can make some great finds. Often, gold ends up in stores like this because the original owners didn’t realize the items they had were valuable. You can gain from their loss!
Pawn shops and private sellers are only looking to pay the melt value.
Make sure you verify the price of gold the same day you plan to buy or sell. Many websites contain this information daily.Never pay any more than 8 percent markup on the current sales price of gold. Some dealers charge more than that, but that isn’t ethical.
Before you sell a piece of jewelry for scrap, have the piece appraised first. This is a good idea if the piece is antique or has an elaborate design. A proper appraisal may cost money, but it can definitely be worth the expense with valuable pieces that may have resale value. This is also a great way to locate buyers who might be interested in your gold.
There are many unscrupulous companies in the gold market.You need to exercise caution and do your research to keep yourself safe.
Many times the backs of earrings are solid gold, even when the actual earring is not solid. Necklace clasps and ring bands often are as well. You can sell these small pieces together to get more money. This is a bunch of different gold pieces in one quantity and can help you earn more money for them.
Get to know the dealer before buying gold. To ensure you’re dealing with someone legitimate, do some research with the BBB. You can use the Better Business Bureau to see if complaints or adverse claims have been made about the dealer. If complaints are filed, look for a different dealer.
Before doing business with an gold dealer, contact your local Better Business Bureau. You will see if there were any complaints and customer reviews. Look closely at complaints to see whether or not they were satisfactorily resolved. If you see that there are a lot of unresolved complaints, you should consider a different business.
Sell Gold
When selling gold, separate it into different karat value groups. Gold is valued by its purity in karats, so if you mix up the karat values, you will not get the best price for them. Gold with higher karat values is more valuable.
You can actually sell gold by sending it in the mail. A lot of people who sell gold prefer this process due to the simplicity.
The gold market is really on an upswing these days. Knowing about the gold market will give you a big advantage. Use these tips to make a killing!
Be sure you double check prices before you sell gold online. Frequently, a local dealer who has a physical presence will provide a better deal. Convenience is lost, but it’s worth it to make more profit.