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5 Tips on Where to Sell Your Gold

Are you thinking of selling some gold jewelry? Perhaps you don’t wear it anymore and it doesn’t have that great sentimental value to you either, or maybe you want the money to invest in something else. Whatever the reason, today you have a wide variety of places to sell gold.

And it is that businesses that are dedicated to buying gold have proliferated in recent years. However, not all of them work the same.

Let us share with you everything you need to know on where and how to sell gold and jewelry, and we’ll give you some advice so that you know its purity and value the right way as well as the choice of the establishment where you can sell your gold.

Do you know the types of gold there are and their degree of purity?

In general, in the USA, gold pieces in jewelry are made of 18k gold, or carats however, if you have purchased the gold in other countries, the purity is likely to be different.

For example, 8, 9 or 10 karat gold comes from the United States or Germany. And in India, Singapore or the United Arab Emirates you can find pieces in 22K gold.

The number of carats in a piece of jewelry tells you how pure the gold is. The numerical value indicates the proportion of this precious metal in an alloy. A carat is the twenty-fourth part of the total mass of a piece, that is, 1/24, which corresponds to approximately 4.17%.

Therefore, if you have a piece of 18-carat gold, it means that for every 24 parts of the metal, 18 are gold. If you see a jewel that indicates that it is made of 24K gold, it means that you have in front of you a piece of pure gold.

However, it is quite rare to find pure gold jewelry because it is a very soft metal; the most common is to find it in the form of alloys with silver or bronze to harden it.

Check the purity of your gold jewelry yourself

To find out how many carats your jewel has, look for the number engraved on it followed by the letter “K”. In case you cannot find it, or it is blurred, you can ask any professional.

They will do a chemical test on the piece to find out its degree of purity.

There are pieces of jewelry that are very well made and give the impression of being made of gold; in fact, some unscrupulous people stamp a false karat number on them, misleading inexperienced buyers.

Although you can find several home methods that will help you know if your piece is real gold, we recommend that you consult an expert.

How much does gold cost?

The price of gold changes every day because it measures its value based on the stock price. At the time you want to sell your jewel, you have to check how the price is.

The amount for which you can sell your gold jewelry depends on the purity and weight of the metal. Although there is something more; and it is that the value of a jewel is not only based on the carats that the gold has.

You have to take into account the goldsmith work that it wears, in addition to the age of the piece or the signature of the jeweler who created it. These details can increase the value of your gold jewelry much more.

Where can you sell your gold jewelry

The best establishments where you can sell gold are jewelry stores and gold buying companies. However, before deciding on one of these specialized stores, we recommend that you investigate which one is best for you.

Next, we give you 3 very simple recommendations that will help you close a good sale of your gold pieces.

Investigate Gold Trading Stores

Spend some time looking for information from the different companies in the sector; check their reputation, how long they have been open, look for opinions from other customers, etc.

Take a tour of the specialized forums on the Internet; They are usually very helpful for this task. Read and know what other users think about the different gold trading establishments.

Companies with a proven track record often receive the best reviews and are recommended by those who have transacted with them. Make a list and then visit the different places so you can decide which ones inspire you the most confidence.

Consultation in several establishments

Companies dedicated to the sale of gold set their purchase prices independently; the offer that one and the other can make you can vary considerably.

Before you sell your gold make sure you are being offered a fair price.

Negotiate the price

Don’t stay with the first offer they make of your gold jewelry. Companies that want to buy will make you the lowest possible offer, of course.

Everyone is looking to make the most of the transaction, just like you trying to get a good sale. But you can be sure that with a friendly negotiation you can get a good price.

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