It seems like the prices of gold is going uphill every year and it is the hottest commodity of all. People are running to get their bullion appraised and they are looking to be paid on the spot. Cash for Gold! But before you start running to your local jeweler with all of your jewelry, you should always make an informed decision and that is what we are here for. If you are looking to grab some extra money to pay bills without falling into the debt trap, selling your gold jewelry for cash is a great idea. So, let us take a deep look at how you can sell your gold effectively and in the right way.
Things you need to keep in mind – Cash For Gold
- Karats: Pure gold is very soft and it cannot be moulded in its purest form. So, another metal needs to be introduced in the composition to increase durability and color. The Federal Trade Commission states that one karat equals to 1/24 of the gold by weight. According to law, if a piece of jewelry is less than 10 karats, it cannot be labelled as “gold jewelry”. Therefore, it becomes vital that you know the exact karat of your jewelry before selling the scrap.
- The Exact value: After you know the karats of your jewelry. Be sure to get it valued from your local jeweler or from online sources that offer cash for gold online. If you are planning to sell your gold shortly, getting it appraised from various sources is key. This is how you will make the most out of your bullion.
- Know the buyer: After you have ascertained the optimum value for your gold, it is time to choose the buyer for it. Check for online reviews or customer opinions on the firm before you consider their services. Only choose register firms for selling your gold for the most hassle-free experience.
- Being Realistic: You have to keep your expectations in check when you want to sell your gold. In general gold, buyers offer somewhere between 70 per cent to 80 per cent of the real value of the item. So if someone is offering something that is too good to be true, then it probably is.
Wrapping up, selling your gold is a great way of getting your hands on some extra cash, just follow the right way and you should be good to go.