Los Angeles Gold Buyers - How To Sell Your Gold And Silver Jewelry For The Highest Price
If you are looking to sell gold jewelry, gold bullion, gold coins and bars, use these tips to avoid getting ripped off.
Tip 1. Avoid selling your gold to pawnshops and Jewelery stores, these places make their profits by paying out as little as 40% of Los Angeles Gold Buyers the current market value of your gold and silver jewelry. You are best suited dealing with an honest company that deals specifically in the purchasing of precious metals.
Tip 2. Pick up the phone! call all of the local gold buyers in your area and ask them for a price per gram quote. For example: If you are looking to sell a 10 Karat gold chain, call and ask the gold buyer what they are paying per gram for 10 karat gold. If the gold buyer won't quote you a price over the phone, avoid dealing with them. Honest gold buyers are upfront about their payout rates.
Tip 3. Avoid the traveling "buying events" What these company's do is take advantage of the fact that there is not a lot of reputable precious metals buyers in smaller towns. They will advertise in the local paper and radio stations, rent a hotel room for Los Angeles Gold Buyers the weekend and pay you as little as 50% of the market value for your gold and silver items.
Tip 4. If you are selling gold coins, gold bullion, or gold bars that are.999 pure, you should not sell for less than 90% of the current market rate (spot price for gold per Troy ounce ) This gold is in its most pure form so you should receive a much higher payout as it doesn't need to be refined.
Tip 5. If you do some research on the Internet, there is honest mail in company's who will pay you a very competitive rate for your gold and silver items.Tip 6. look for any stamps on your gold jewelry, they will tell you the Karat and purity of the piece. The higher the Karat, the more money you will receive.
24 Karat is the purest form of gold. If your gold is stamped "GP", "KP", "HGE", "RGP", "GE", or "GF") This means that your item is plated and most gold buyers won't be interested in purchasing it.
Gold is one of the precious metals that have maintained top status as a desired material for jewelry from anklets to tiaras. Its prices through the years have remained on the general upswing with little signs of slowing down, mainly because gold is used for many other purposes aside from personal jewelry. Los Angeles Gold Buyers With such high market valuation, many individuals can sell their gold jewelry for a good profit.But as with anything valuable, certain steps must be adopted before selling gold jewelry if profit is on your mind. These tips will definitely prove useful in finding big money in the selling of your unused gold jewelry.
Decide Its CategoryGold buyers usually classify gold-for-sale on a retail basis as either ready-for-resale or ready-for-the-scraps. The gold jewelry with resale value includes those with exquisite craftsmanship, interesting history and complete parts - truly the kind of pieces that attract the attention of customers.In contrast, the gold jewelry that can be sold as scrap include old class rings sans the gemstones, used run-of-the-mill jewelry and pieces with broken parts. These are melted into liquid gold and then made into new pieces of jewelry.
Determine Its WorthOnce you have the general idea of the gold jewelry's category, you will then be able to set expectations of its market value that will form the basis for your selling price. You can compute the value of the jewelry using the quoted prices of the precious metal on the business section of newspapers. Or you may use online calculators for this purpose, so long as you have an idea of the weight in grams and the karat of the gold.If you want the objective opinion of a professional, a local jeweler will be of assistance in this matter.
You should be able to get a quote that represents the market value of the gold jewelry.
Do Comparison ShoppingNow,
you must shop around the gold jewelry with the main aim of selling the pieces to the highest bidder. This can be as easy as showing pawnshops, jewelry stores and other gold buyers the items or joining online websites like eBay. There are also reputable companies that will buy your gold via mail.The most important tips when shopping around for a buyer are the following:•
Ask for accreditation memberships in private
professional organizations that regulate the industry. Examples include the International Precious Metals Institute for refiners and the American Gem Society for jewelers. Memberships in these organizations signify that the buyer adheres to industry standards.
• Take a cue from the potential buyers'
willingness to comply with the law designed to protect the interests of the gold sellers. For example, the potential buyer like a pawnshop must ask the seller for photo identification since reports must be filed with the district or state attorney's office on this matter.
