If you find yourself strapped for cash or if you just want to make a little bit extra, you can get rid of some gold jewelry. This is a straightforward process, because there are a lot of companies that make a living buying gold from people in that exact situation. Before you reach out to one of these companies and get rid of your gold, you should learn some tips about understanding the metrics, finding the right gold company and learning the value of your gold. These tips are explained below.
Learning the metrics
You will need to understand how gold is measured, because it has a direct correlation on its value. This will help you to determine how much money you might be able to expect to receive from your gold pieces. One of the most important characteristics that determines the value of gold is the weight. Jewelers deal in a measurement called the Troy ounce when measuring gold weight. Some gold companies instead use a measurement known as the pennyweight. Karats were refer to the fineness of the gold, which also helps to determine the value. Knowing these measurements will keep you well informed when looking to sell your gold to one of these companies.
Find a company that buys gold
You should consider some of this information in order to find the right gold buying company:
- Ask the company how long they have been dealing in gold and ask to see the business license
- Have the company walk you through the entire process and get thorough receipts when you sell your gold
- If selling your gold to an online company, pick up the phone and call them to be sure you can speak to an actual person when you need to
- Get at least three different quotes on the price of your gold before settling on one company
Check the markets to find the daily price of gold
The value of gold is measured on public markets and changes on a day-to-day basis. By following these trends, you will be able to understand the best times to sell your gold, in a way that gets you back the maximum value. There are certain guides which will let you know today's price of gold, which can be used to guide you when you sell your gold.
These three tips will get you started when you want to sell your gold. To learn more, contact a company like Rocky Mountain Gold & Silver Exchange.