How To Sell Your Gold And Silver Jewelry For The Highest Price

If you are looking to sell gold jewelry, gold bullion, gold coins and bars, use these tips to avoid getting ripped off.

Tip 1. Avoid selling your gold to pawnshops and Jewelery stores, these places make their profits by paying out as little as 40% of the current market value of your gold and silver jewelry. You are best suited dealing with an honest company that deals specifically in the purchasing of precious metals.

Tip 2. Pick up the phone! call all of the local gold buyers in your area and ask them for a price per gram quote. For example: If you are looking to sell a 10 Karat gold chain, call and ask the gold buyer what they are paying per gram for 10 karat gold. If the gold buyer won’t quote you a price over the phone, avoid dealing with them. Honest gold buyers are upfront about their payout rates.

Tip 3. Avoid the traveling “buying events” What these company’s do is take advantage of the fact that there is not a lot of reputable precious metals buyers in smaller towns. They will advertise in the local paper and radio stations, rent a hotel room for the weekend and pay you as little as 50% of the market value for your gold and silver items.

Tip 4. If you are selling gold coins, gold bullion, or gold bars that are.999 pure, you should not sell for less than 90% of the current market rate (spot price for gold per Troy ounce ) This gold is in its most pure form so you should receive a much higher payout as it doesn’t need to be refined.

Tip 5. If you do some research on the Internet, there is honest mail in company’s who will pay you a very competitive rate for your gold and silver items.

Tip 6. look for any stamps on your gold jewelry, they will tell you the Karat and purity of the piece. The higher the Karat, the more money you will receive. 24 Karat is the purest form of gold. If your gold is stamped “GP”, “KP”, “HGE”, “RGP”, “GE”, or “GF”) This means that your item is plated and most gold buyers won’t be interested in purchasing it.

Before you mail out your gold and silver jewelry, make sure the company lists a payout rate on their website. Do some Internet research on the company and make sure they have a good reputation. If you follow these tips you should receive the highest payout rate for your gold and silver jewelry.

Source by Peter Jacob S

How To Sell Your Gold And Silver Jewelry For The Highest Price