Things To Consider When You Plan To Sell Gold

Selling old jewelry in exchange for quick cash is practiced by a lot of people. People who find themselves in a predicament such as bankruptcy turn to the option to sell gold. It is indeed a quick way to have enough money when it is needed urgently.

As simple as it may seem, when you sell gold, you have to remember a few things so that you will be able to maximize the profits from your precious stash. One of the very first things to consider is that you should deal directly with the entity buying the gold be it a gold buying company or a person interested in your old gold jewelry. The more people you involve with the transaction, the lesser the amount of your share from the sale will be. Of course, you would have to give a part of the proceeds to the middle man who helped you sell the item. So you will be left with a smaller amount than what was agreed upon because of the commission that you have to deduct.

Checking Feedbacks

Another important thing is that you should be aware of the reputation of the people you are dealing with. When dealing with a company, make sure that they are certified and that their people have the expertise in checking the value of your gold pieces. Certified gemologists and jewelers are the best people to deal with when it comes to putting a value for the pieces that you sell.

There are many companies that advertise that they buy gold at the highest price. However it is better to be cautious about these claims. Do not sell gold at a lower price since this investment can catch a higher price somewhere. Knowing how much your gold is worth before selling will definitely help you get a command a higher price for it. Do not let your investment go to waste by selling it less than what it is truly worth.

When you really need to sell gold to a company that you are not familiar with, make sure that they are a engaging in a legitimate business. Check for feedbacks about the company to save yourself the hassle of dealing with problems that might arise during the course of the transaction. Having the pieces insured by the company is an assurance.

Knowing the Value

Also, knowing the value of your gold will help you determine the correct price to sell it. Have it weighed as well as know how many karats it has. The concentration of the gold in jewelry is determined by the number of karats that it has. The common value for most jewelry that is sold today is between 14 to 18 karats. They are still valuable however the gold that can be found in this kind of jewelry is lesser compared to a 24 karat gold jewelry. 24 karats is the highest for it has the highest concentration of gold. The thing to remember when you sell gold is that the higher the karats, the higher the value of the gold piece.

Selling gold is easy however to know how much your gold is worth before selling them will make you maximize the profits and in turn get more money to finance your needs.