Sell Gold – Tips To Avoid Being Ripped Off

In these hard economic times, you might be tempted to sell some of your personal belongings in order to sort out other expenses or pay off bills. You can sell off electronics at a pawn shop; while a garage shop can take some of the items you no longer require and even pay you for them. When selling more prized items such as jewelry and gold, you will have to be more careful about handing over your items. If you have something solid such as older gold filings that you no longer require or gold coins handed down through several generations, you need to be extremely cautious where you take the goods to in order to avoid being ripped off.

So, how can you avoid getting cheated when you want to sell gold? This prized metal is possibly among the few items which rarely decline in value over time. You will naturally want to obtain the finest price possible for your goods; however gold purchasers want to give a lower price also, so that they can make some profit down the road. While you might not always obtain the precise value of the precious stone you have, you should not feel that you have to decline the sale after being low balled. There’re certain steps that you can take in order to obtain a fair price.

Before you visit any jewelry dealer or store to sell gold, you should take some time to find out everything you can about gold prices as well as how the value of gold is ascertained by dealers. Gold is gauged in troy ounces. This unit is quite different from the conventional units used for measuring other items such as food. You might also come across the term “pennyweight” as you discuss with gold sellers. A pennyweight is equal to 1/20 of a troy ounce.

You should research reliable sources for current gold prices. If it’s presently set at one thousand three hundred dollars per troy ounce and your gold piece weighs half that amount, you may think that you are going to decline a sale that offers you eight hundred dollars. Not necessarily, a seller will not make any profit if he/she offers you the total value. Do not forget that they are in business to make money also. Harry C. Glinberg Jewelers is your premier source for the best in diamond jewelry.

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