GOLD SELLING TIPS
Advice for Selling Gold Jewelry
HOW TO GET THE MAXIMUM WHEN YOU SELL YOUR GOLD.
Gold is a precious metal. It has always been valuable, and in recent years it has hit record highs in selling price.
This guide aims to teach you how to avoid the pitfalls when selling your gold.
We want to help you get the maximum for your jewelry even if you don’t sell to us.
GOLD SELLING 101
Compare the offers of a few different gold buyers.
Different buyers offer vastly different prices for gold jewelry. By comparing prices,
you will learn more about how gold selling works and guarantee that you get the best price available.
Sell to someone who posts their prices on a website.
If the buyer is paying a decent price, their website should plainly advertise the rates.
Request a detailed receipt of your sale.
The receipt should confirm the weights and prices paid for your items.
A FEW THINGS TO WATCH OUT FOR:
BEWARE: Some buyers don’t let you see the weighing and testing processes.
If you can’t watch the weighing, then you can’t be sure you’re getting paid for all your gold. You should weigh
your jewelry in grams before trying to sell it.
BEWARE the buyer who asks you “How much are you looking for?”
If a gold buyer urges you to make an offer before they quote a price, they are trying to swindle you.
This tactic allows them prey upon the ignorance of the customer. A fair gold buyer will pay the most to every customer without haggling.
BEWARE a buyer who refuses to quote a rate, but instead says “we have to see the piece first.”
Don’t make a trip out to a gold buyer without first comparing their per gram pricing.
Even if they claim to pay for the value of the jewelry as a piece (as opposed to scrap metal value),
they may still pay less than a gold buyer with high rates. You must compare the bottom line.
BEWARE when a buyer quotes prices in a range. For example, "$20-$25 per gram." Assume the worst.
BEWARE prices quoted in pennyweight
One pennyweight (completely unrelated to the weight of a modern U.S. penny) is equal to about 1.56 grams.
Therefore, a price quoted in pennyweights will seem greater than a price quoted in grams.
Ask the gold buyer to quote in dollars per gram.
Grams are a more universal unit of measurement and are more easily understood by the public.
BEWARE: Never ever send your gold to a mail service gold buyer.
If you send your gold in the mail, you have no way of reviewing the business practices of the buyer.
Mail service gold buyers pay very low rates, and may short you on the purity and weight of your gold.
BEWARE! Selling at gold parties or to out-of-towners in a hotel room.
Gold parties and temporary gold buying setups often prey upon the uninformed seller.
A here-today-gone-tomorrow buyer has no clout in a community, so there is no way to review their reputation.
BEWARE exaggerated claims and gimmicks.
Some buyers offer a "25% bonus" or gas cards and in-store credit as compensation.
These claims only distract from the bottom line. An honest buyer is upfront with their pricing without so-called "bonuses."
About Gold
Throughout the history of our planet almost every established culture has used gold to symbolize power, beauty, purity and accomplishment. Gold is rare, lasts forever, is easily divided into smaller amounts, and it has many uses. Because of these properties, gold is always valued.
Gold can be drawn into a fine wire, hammered into thin sheets, cast into various shapes, easily polished, and can be mixed with other metals to form alloys with varying properties. Because of these properties, the major use for gold is jewelry. Over two-thirds of the gold mined each year is turned into gold jewelry.
Karat is a measure of purity used in jewelry. 24 karat gold is pure gold. 18 karat is 75% pure. 14 karat is 58.3% pure by weight. Gold alloys give it different colors. White gold is usually nickel. Red gold is alloyed with copper. There are also alloys for green gold (silver), purple gold (aluminum), blue gold (indium), and even black gold.
The second major use for gold is monetary. Governments store gold in bars as a monetary reserve. They mint coins that can be traded for goods and services.
Gold is used in electronics and computers. It is highly conductive and it won’t tarnish, which makes it very reliable for low voltage electronic uses. Gold is used in dentistry because it can be easily molded and it doesn’t wear or tarnish. Gold has medical uses; it is used in glass making, and of course, awards. It is used as leaf to adorn buildings and sculptures.
Gold is an element with the chemical symbol AU. Its atomic number is 79. Its density at room temperature is over 19 grams per cubic centimeter. Its melting point is over 1900 degrees Fahrenheit.
Gold is valuable; don’t mail it away for pennies. In Michigan, sell your gold jewelry for better prices. Sell your gold jewelry at Max Your Gold. Max Your Gold has the best price for gold jewelry in Michigan. We proudly advertise our prices unlike other Detroit area buyers.