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Gold Exchange – 5 Quick Steps on How to Get the Most for Your GoldPosted on: 22nd August 2016 By Alisson
If you are like most people, you have shelled out hard-earned money for your gold. Perhaps you safeguarded your gold for years on-end, hoping to eventually make a tidy profit. When the time comes to sell your gold, do not accept anything less than a fair offer. Though getting the most out of your gold will take some research and effort, it will be well worth it in the end. Follow the advice set forth below and you will greatly increase the odds of a profitable sale.
Perform a Comprehensive Inventory of Your Jewellery and Silverware Collection
Gather all of the jewellery you would like to sell and set it on a table. Inspect each item for precious metals like gold, silver and platinum. There is a good chance that your jewellery will have at least a small amount of one of these precious metals. Collect all of the silverware you no longer desire as well. If your jewellery is broken, disfigured or discoloured, don’t fret. As long as it contains precious metals, it has some value. Even pins, brooches and pendants might contain silver or gold that scores you a nice wad of cash. Such “scrap” can be worth a pretty penny if you have enough of it or particularly rare pieces.
Read up on Karat Value
Gold is priced by karats. This precious metal is available in an array of alloys. The purest alloy is referred to as 24 karat gold or “24-k” for short. When someone mentions 14k, 18k and beyond, it is a reference to parts of 24. As an example, 14k means 14/24ths of an item is gold. Continuing onward, 14 divided by 24 equals 0.583 or 58.3 percent of gold. Every gold seller should be aware that the purest gold is incredibly soft so the majority of jewellery is designed with a lesser karat weight. A seller will be paid according to his item’s karat weight. It is prudent to take a look at the stamp on the interior of your jewellery to find out this weight. If there is no such stamp, don’t panic. One of our experienced precious metal buyers will test your item to determine its gold or silver content. So come on in to our Auckland office and meet with our gold aficionados in person. We will provide an honest assessment of your jewellery and address any questions or concerns you have.
Only do Business with a Respected Gold Buyer
Reputable gold buyers like Gold Smart have physical offices in Auckland where you can meet with our friendly personnel. Our exemplary in-person customer service is a stark contrast to other gold outfits. As the web has expanded, more and more precious metal buyers have set up shady websites without any sort of physical location. This is a major red flag for anyone who is interested in selling gold or other precious metals. Do not ship out your gold or other valuables to an online business. There are plenty of scam artists out there who will set up phony websites to sucker unsuspecting people into shipping off their gold in anticipation of a subsequent payment that never actually materializes. When in doubt, only do business with gold buyers like Gold Smart who have a brick and mortar facility. Always check out the reviews posted to the web as well as each business’s Better Business Bureau report. Take a look at Gold Smart’s reviews and you will find that we are the best place to buy gold and sell gold in New Zealand. Also, do not pay a prospective gold buyer to check or test your items. Such tests should always be performed at no cost to the seller.
Have Your Gold Appraised
Attempting to sell your gold without a recent analysis of its value is a grave mistake. The value of gold fluctuates as time progresses. The appraisal you obtained for your gold items a couple of years ago will no longer be accurate. Bring your gold and other precious metals in to Gold Smart and our team will test it right away. If the piece does not have a stamp, it will likely be necessary to make a diminutive scratch so a test can be performed with a light acidic solution that turns colours. These colours identify the gold’s karat weight.
Our team might also utilize a unique magnet and/or electrical scanner pen that gauges whether the item is actually a legitimate precious metal or diamond. This process is quite entertaining to observe. Our professional dealer will perform the test(s) in plain view so you don’t have to worry about him mishandling your valuables. Furthermore, you should have all antique items, collector’s items and brand name pieces appraised through a licensed appraiser. His appraisal will provide you with the official market of each piece so you can get an idea as to their true value. You just might find that the melted value is greater than the sale value or vice versa. One caveat to keep in mind: Do not pay an appraiser a percentage of your piece’s value. Charging such a fee is egregiously unethical. There should always be a pre-established fee for each piece that is to be appraised.
Don’t Forget Your Identification!
The vast majority of gold buyers will refuse to purchase gold or other precious metals if you lack proper identification. The logic for such a refusal is that the items could be stolen from the rightful owner and brought in for a quick “flip”. Gold buyers worth their salt will confirm that the seller is actually the owner of the items for sale and record his personal information in case it turns out that the items have been pilfered from another party. If you stumble upon a gold buyer who fails to take such precautions, you have likely encountered an illegal operation. Such a shady enterprise probably won’t give you a fair price for your gold. Move on to a trustworthy business like Gold Smart and you won’t have to concern yourself with such shenanigans.