When you're looking to make some cash, visiting gold dealers is a great idea. Learn about how to avoid the ones who will rip you off and how to come away from the deal satisfied.
It's one of the best ways to make some quick cash: heading to one of your local gold dealers with a pile of some of your unwanted jewelry. And while there's certainly nothing wrong with turning your unused belongings into some money that will almost certainly contribute more to your lifestyle, there are some things you should know before you get in your car. These businesses don't make their living by paying in excess for your jewelry. They are out to make a profit. Nothing wrong with that, either, but it pays to know where everyone is coming from when you enter into a deal. Here are some tips you can use to get the most out of your sale.
The Scale
Gold dealers will weigh your jewelry to determine how much they should pay for it. This is how precious metals are priced and is therefore the most important consideration. You can avoid a buyer trying sneaky tricks such as weighing your jewelry with pennyweights but then paying you using the gram system by both knowing how these scales work and finding someone with a great reputation. A few tricks like this and a buyer isn't going to be in business for long. But a fly-by-night company may be able to get away with a few tricks before they blow out of town. That's why knowing your buyer has been around the neighborhood for a while can be used as a big factor in your decision.
Karats
Pure weight isn't the only consideration when it comes to buying and selling precious metals. Karats are also an important factor for all gold dealers. The karat system is, in simple terms, a way of expressing the purity of the metal. It is too soft in its purest form to create anything useful. Therefore, other metals are added in to give it both weight and durability. Therefore, if you have a heavy ring that's only 10 karats, you may not get as much for it as a lighter ring that is 24 karats. Do some preliminary homework about what you're selling before you head out and you can avoid disappointment.
Value
It pays to check the current market value of gold before heading out the door. Don't let disreputable gold dealers pay you less than the current market value. If you're selling for purely scrap purposesFree Reprint Articles, you at least deserve to get the market value of the metal. Give it a quick check and you can then raise a dispute with any buyer who wants to pay you less than it's worth.
