We have been talking a lot about selling gold. Sometimes the process can be overwhelming. There are three things you should know about when preparing to sell your gold: the karat, the market value, and the buyer.
Know the Karat:
Karats are a unit used to measure the purity of gold alloys. The number of karats gold is describes how many pieces of pure gold are present. Pure gold, which is 24 karats, is very soft, and therefore has to be combined with other metals in order to have better durability and colors. Buyers will pay you based off of how many karats are present in the item.
For example, if a piece of jewelry is 18-karat gold that means that it has 18 parts of pure gold and 6 parts of another type of metal.
Know the Market Value:
The market price for gold is always changing, so it is important to be aware of what it is at the time of selling. It’s especially important to know this so that buyers will not offer you a lower price based off of what they think you don’t know!
There are several online sources to research the current market price like this one!
Know the Buyer Before you Sell:
In a previous post we talked a bit about who to sell your gold to. It’s important to consider who you choose to sell to, in order to get the best price for your gold pieces. Many times “We Buy Gold” shops or pawn shops will offer you less money, while local companies are more knowledgeable and can offer you a price closer to the true value.
Knowing these things is important to ensure that you get the true value in return for your gold. Doing your homework and being educated can make all the difference!
If you are ready to get rid of some of your gold, contact us today. We can walk you through the entire process!