Many people have old jewelry they are never going to wear. Rather than allowing it to sit in the jewelry box collecting dust, the individual can sell their gold to make some extra money. If a person is planning to Sell Gold in Chicago, there are a few tips that they should follow.
Know The Current Value Of Gold
Gold is similar to a stock in that it is publicly traded and has a market value. Like stock, the price of gold is always fluctuating. Before the individual sells their gold, they should do some research and find its current market value.
Know The Karats Of the Gold
Gold is measured by karats. Pure gold is 24 karats, and it is very soft. If the gold is in jewelry form, it will likely be mixed with other metals. If the individual is selling jewelry, the karats are marked on the gold. On a ring, it is etched inside the band. If it is a necklace, it is etched right beside the clasp. If the seller wants to know exactly how many karats their gold is and what it is worth, they should have it appraised.
Don’t Mix Karats
When selling gold, the individual should separate their gold by karats. If the seller puts all of their gold together, the buyer will likely weigh all of the gold together and give an appraisal based on the lowest karat. This can reduce the amount a seller will get for the gold
Check the Scale
The seller should find out how they will be weighing the gold. If the buyers use a pennyweight, the seller could end up losing money because pennyweights are heavier than traditional grams. If possible, the individual should weigh the gold at home before selling. They should also be sure that the scale is in full view while the gold is being weighed.
Check the Buyer’s Reviews
Before going to see a buyer, the seller should read the buyer’s reviews. If other sellers had a good experience with the buyer, the individual would likely have a good experience as well.
If a person is looking to Sell Gold in Chicago and they want to work with a reputable dealer, they should Contact Clark Pawners and Jewelers.
