Sell My Gold for CASH

Sell My Gold for CASH

posted in: Gold Buying Blog | 0

How to sell my gold for cash and get the maximum value out of the sale

There are a lot of ways in which you can get cash for gold in Reno NV. The entities that are involved in such a sale transaction are the seller, the buyer and the gold. It is important that you know more about the precious metal you are selling to get the maximum out of the sale. Let us see how you can achieve this when you think to yourself – “I’m ready to sell my gold”.

There are several things that you should be abreast of, when it comes to the precious metal.

From the moment you decide to sell gold for cash, you should be on top of its current value in the market. It usually fluctuates on a daily basis and hence will take some effort from your side to keep up with its price. But the effort that you put for this will pay you good dividends when the actual sale goes through.

Knowledge about the various forms of the precious metal that you have will also aid you. You could have the precious metal with you in the form of daily wear ornaments like earrings, pendants and rings. You could have valuable jewelry like that exquisite necklace or a delicately hand crafted bracelet. Coins could also be present in your catalog. Such different forms will have different
values associated with them. While coins could be the purest, jewels could have different Karat values like 14K, 18K or 21K. General rule of thumb is that the value of gold increases with its karat value. So a 21K earring will fetch you more than a 14K necklace of the same weight. Also you may have some items that will fetch you more when sold as-is instead of being sold after melting, due to their brand value.

Getting the gold appraised by a licensed appraiser and getting a formal market value report will arm you with enough ammunition when you are negotiating with the buyer. Additionally you should also understand the various scales like ounces, grams or pennyweights that are involved in the measuring process. With this awareness you can make sure that the buyer is paying you based on the same weight with which he is weighing the gold. You should also have good familiarity on the Karat values of your ornaments when you are trying to sell gold. Some buyers may weigh all your
items of different karats together and offer you an estimate based on the lowest karat value. This means that you will be paid for 14K although you may have many 21K articles in the list. You should insist that items of the same karat values are clubbed and weighed together to arrive at the right price.

When you do your homework properly and have sufficient knowledge on the subject, you can talk to the buyers in their own language. When you show the buyers that you are confident about what you are doing, they will treat you with a new found respect. Don’t just walk in and say “I want to sell my gold”. Be knowledgeable and this will ensure that the deal is fair and that you get the maximum cash for gold that you are selling.