Many people are eager to make easy cash quick, and a great way to do that is to sell gold for cash. However, smart consumers are wary of the many scammers out there who take the gold and disappear into cyberspace, never to be seen again. You might be of the variety that will take a gamble with the old gold that you don’t need, and see if you can make some money off of it. Or, you may want to do some research to ensure that you get some money’s worth. Making sure that you choose a cash for gold company that is reliable and will give you the full price you deserve definitely takes time and effort, but it pays off in the end. After all, what’s an investment of some time for potentially hundreds of dollars in cash?
Before you sell gold for cash, you first have to have an estimate of how much your valuables are worth. The karat system is used to tell the percentage of real gold that is in an object. Twenty-four karats is pure gold. To check if your jewelry is real gold, look in an inconspicuous crevice, such as the inside of a ring for a number, followed by a ‘k’. This will tell you how many karats of gold your jewelry has, and whether it is real gold or not.
Most people have gold that is 10k, 14k, or 18k, with it being more pricey the higher the percentage of gold. If there are letters following this notation, such as EP, GEP, or P, you know that your valuable is gold plated, decreasing the value of the piece.
Platinum is very valuable, worth even more than gold. Before selling silver, take your jewelry into a jeweler to check whether it is silver or platinum. This will greatly affect the price.
Once you know how many karats of gold your jewelry is, you can calculate an approximate value based on the current price of gold. Gold is not at all time highs, but prices change incrementally daily, so check the current price. To find the market value of the item in question, do the amount of karats divided by 24 (pure gold.) Multiply this by the current price of gold, which in today’s economy may be somewhere near twenty-four dollars. Then multiply this amount by the weight in grams. Although this method is only an approximate, it will give you an idea of what range your price quote should be in.
Many online companies do not provide quotes until they see the gold and weigh it. This is reasonable, but before sending in your gold, make sure to thoroughly check the company’s references and customer testimonials to ensure that they are trustworthy.