As gold prices keep skyrocketing around the $2000 per ounce mark, it is expected to stay this way through much of this year. This means now is a good time for selling gold jewellery to the gold buyers for extra cash. So you can get rid of tangled chains, odd earrings, or a gold ring lying around in the drawer. But keep in mind the gold buyers are not looking at the gold jewellery pieces but the gold content.
Act Now To Sell Gold
So, if you want to make quick money, you can turn your gold jewellery or gold bullion into cash to yield more now. You can expect a good payout. While you can wait it out with the prediction of financial advice recommending gold will double in the price, we recommend making a move today. So, how can you sell your gold jewellery like a pro?
Once you determine that the jewellery pieces are not worth wearing without sentimental attachment, you can start selling them like a pro with the following steps. First, determine the worth by checking the karat markings and each item’s weight and calculating it with the melt value.
The best way to find out the current gold price is to check it online to get the spot price. We recommend bringing between 90% to 95% when selling your gold bullion and 70% to 80% for your gold jewellery of the melt value.
For the melt value of your items, gold buyers weigh your gold in troy ounces. So one troy ounce is the equivalent to 31.1 grams. So if you plan to sell gold bullion, the weight you will find on your item.
Two Options to Sell Your Gold
When selling gold jewellery to the gold buyers, you have two options online or visiting the dealer in person. The advantage of selling locally is that you can get cash faster even the same day you receive your offer. This is because the dealer will test the gold content on the spot price and make you a buyback offer based on the amount of the gold.
Using an online gold buyer is a bit trickier as you need to send your gold pieces in an envelope shipped to a provided mailbox. You will receive an appraisal and offer after a few days that you can accept or decline. If accepted, you get paid by check or a bank transfer.
If you decide to go the online route, we recommend you do your research and not be scammed. Another important thing is to compare your prices using multiple vendors where possible. We recommend paying a few of them a visit in person to compare your quotes.
Also, remember to determine how long you have to accept the offer and what percentage of melt value they pay. You may find that the gold buyer’s rate can range from another. But if that provider hesitates to answer your question, we recommend you move on, especially when dealing with them online.