Get the Most Money Possible When Selling Gold Jewelry for Cash

If you are like many people out there, you know that you can sell the scrap gold you have around the house for big money. You surely have seen advertisements with phrases like “Cashforgold” or “We buy scrap gold”, but before you run out and sell your gold scrap to a company, you will want to make sure that you are getting the most money possible. Here are some tips that can help when you wonder, “How can I sell my scrap gold?”:

Know the Worth of Your Gold:
If you aren’t yet aware of this, the price of gold changes on almost a daily basis. Before selling gold jewelry for cash, you will want to make sure that you are checking on the global gold price, and doing so from a reputable source. Typically you can find this information online, or in your local newspaper, each day. Though a buyer might say they will offer the best possible price, this isn’t always the case. Fortunately, for you, if you know the current global gold price, you will be prepared to walk away if they offer a price that is too low.

Know the Karat Number of Your Gold:
Before you run out and think, “I’m going to sell my scrap gold”, it is also important that you know the karat number of the gold you have. The karat number is a number given to gold in order to indicate its purity. The higher the number, the more real gold is in the piece, and the higher the value will be. In many cases, the karat number will be inscribed in the gold, but may be very small. If you cannot find or see the number, you can take the gold to a reputable jeweler, and they will typically be happy to help.

Know the Weight of the Gold:
Finally, before selling gold jewelry for cash, you will want to make sure that you know the weight of the gold. Most people will think the weight on their own food scale is accurate for gold, but you should try to use a jeweler’s scale if at all possible. Gold is almost always going to be measured in grams, though you might find it being purchased in troy ounces. Because of this, you will need to convert the weight in grams to troy ounces in order to be prepared.

By keeping the above information in mind, and choosing a reputable gold buyer, you will easily be able to sell your gold at a great price.