Selling gold for cash is a great way for a person to make money. If they have jewelry that they no longer wear, they should consider cash for gold Downers Grove. Rather than letting the jewelry collect dust in a jewelry box, they should make some money. When it comes to selling gold for cash, there are a few tips that the person should know.
Understand Scales and Payments
Some dealers weigh their gold with a typical scale, and some weigh the gold with a pennyweight scale. Either scale is fine, however, the seller should make sure that the dealer doesn’t weigh the gold with a pennyweight scale but pay by the gram. This will result in the seller receiving less money than they deserve.
Separate the Karats
If a person is selling more than one piece to a dealer, they should make sure that they separate the karats for weighing. If the dealer were to weigh all of the jewelry together, they would pay for the lowest karat value. This would result in the seller losing money.
Know the Value of Gold
Before a person takes their gold to a pawn shop, they should know the current market for gold. It isn’t too hard to get this information. All that a person would need to do is contact their local jewelry store or use an online source such as goldprice.org. If the seller wants to be sure that they are getting top dollar, they need to know the worth of what they are selling.
Know What is Being Sold
There are certain gold items that would be worth more money as is than if they were to be melted down. For example, a piece of jewelry that comes from a popular maker or a well-known designer, it would be of more value than the gold that it has been made from. Before selling their gold, the individual should know what they are selling.
Check Out the Buyer
Before selling, the individual should do some research on the buyer. The best resource is the Better Business Bureau (BBB). Not only are most dealers graded based on their service, but also the individual would also be able to check if there have been any complaints filed against the company.