Hot Tips to Sell Gold

In this economy, everyone wants to sell gold to get some extra cash. Though it might seem a very simple task, you should proceed with caution.

Do Your Research:

You should know the ins and outs of the trade to sell gold jewelry. Search the Internet for the current price of gold. Gain some knowledge on the "karat". Karat is the quality of gold. This varies between 14 (58.5 percent gold), 18 or 24 (pure gold) karat. You are paid only for the gold content in the jewelry and not the alloy that is used to make the piece durable.

Jewelry with stones is worth more. The gems have to be extracted before refining the gold and the jeweler can use them. When you sell gold coins, antiques or designer pieces, remember that you may get more from a collector or specialty stores.

To buy and sell it the cost is calculated based on the weight, the purity and any profit they want to make. Therefore, you will notice that every gold smith gives a different quote for your gold. If you get about 75 percent of the market price of gold, you are getting a good deal.

Research the reputation of the dealers before you actually sell it. Preferably, choose a dealer with a shop and established reputation.

Also, get your jewels appraised by an independent appraiser who is an accredited member of the American Society of Appraisers or the Gemological Institute of America.

Word Of Caution:

If you decide to sell gold online or through dealers that send you envelop for your gold, be sure to send the items through insured mail.

Ask the dealer what would happen if they lose your jewelry. Ask for the guarantee in case you do not agree with the price that the company sends. Take pictures of the items you will be sending and their description. Keep a copy of this with you.

Proper research will help you make the decision to sell gold or not.

Source: EzineArticles.com