Gold prices are at an all-time high and online gold buyers are sprouting left and right, but how do we find the right one to sell to? Acquiring cash for gold is very “in” these days. As people suffer from the plunging economy, many need immediate cash to answer obligations and a lot of them have found the answer in those broken and outdated jewelries and old gold coins.
Are you safe? This will be a concern, but more importantly, you will get less money for your gold. You become a risk that they do not want to take. You may end up having to go to a traveling dental gold buyers or pawnshop and this will get you bottom dollar, not top dollar. If the buyer wants to give you cash, I would ask for a check and go immediately to a bank and deposit it, especially, if it is a big amount.
Lastly, it must be remembered that gold and precious stones may not always appreciate in value. Therefore, it makes sense to sell when your items are fetching a premium.
You might be tempted to sell it’s jewellery immediately after getting to know that the price of it has shot up. However, gold for sell might not be of much interest to the dealers who are hoping that it’s prices will return to their normal price. A fair dealer should give you a small percent premium on the gold you sell. But, if you do not know how to sell gold you should remember that you can ask the gold dealer to buy it at a percent discount.
The term “melt value” refers to the price of gold after being melted down and sold as bullions. When you are selling or buying gold you should make sure that the price is as close to the melt value as possible. In the case of jewelry, selling close to the melt value is not really the best option. Turning good jewelry to scrap gold just to sell to cash for gold jewelry traders would be a huge waste. In this case, jewelry appraisal should be done. The craftsmanship and rarity of the jewelry should be taken into account. In this situation, the amount of gold in the jewelry will not be the only deciding factor on determining its value.
The weight of the gold that you have and the quality of the gold is important to consider. You will get more money when selling gold that weighs more or has more karats.
Make sure whoever buyers you are going to select to sell your metals are duly licensed and no customer complaint. Then, you need to check and value your precious metals before you make up your mind to sell gold for cash. Bear in mind that these precious jewelries that can be resold as jewelry items will usually be more valuable. Again, the one that are old and damaged are generally sold to a refinery where they are melted down for new items. There are many such buyers who try to befool their customers by telling them that their jewelries have not that much worth that can bring new items. Make sure you at least understand the difference between these two kinds of jewelries.
Any reputable company in the gold buying and selling business will have some complaints filed with the BBB. Why? Because most people are emotionally attached to their jewelry and get offended when they don’t get offered as much as they think they should. Another reason is the fact that most people have no idea of the real value of their gold. Since most gold jewelry is made of 14K gold, the payouts from any gold buyer just do not match the high expectations of the typical consumer.