So, you’ve decided to hop on the gold selling bandwagon and trade your wealth in the precious metal for some cold hard cash. Great—the price of gold has never been higher and every day holds new surprises for this hot commodity! Before you gather up your jewelry and other miscellaneous gold items and rush down to a pawn shop in Olathe, KS to make a sale, there are a few things to keep in mind.
Remember, selling gold means exchanging one type of wealth for another, which means you don’t want to lose any value in the translation that might leave you shorted when you’re walking away from the table. Take a look at these five quick tips for gold sellers and how they can help ensure you’re making the most of your gold-selling experience:
- Know the trend. When you’re getting ready to buy a car, one of the first things you do is check the prices of models you like. Selling gold is no different: you should investigate the price of gold and the recent pricing trends to make sure you’re aware of the value going in. Now, it’s important to remember that gold is always in flux, meaning the value can change weekly—your knowledge of the current price might not be spot-on, but it should be in the ballpark.
- Don’t mix karats. As you probably know, gold is measured in karats and karat weight determines price. Because there are higher and lower karat weights, it’s important not to mix them. Why? Because selling gold in a lump sum generally means accepting the lowest price per karat weight. Even if you have more of a higher karat, you could be missing out because your batch is tainted with a lower karat.
- Watch the weight. To the unsuspecting gold seller, it might seem innocuous when a buyer weighs up the total sum of gold you bring in and gives you a figure… however what you might not know could be leaving you shortchanged. Make sure the pawn shop in Olathe, KS you’re selling to is measuring by Troy Ounces (31.1 grams), instead of regular ounces (28 grams). This small discrepancy could be costing you money if not caught!
- Appraise the item. Before you start selling your gold at random, take a moment to make sure you’re not scrapping a piece that might be more valuable if sold as-is. For jewelry and heirlooms, get your pieces appraised and valuated, to make sure they’re better sold for their pure material value, rather than for what they are as an object.
- Vet the reputation. Don’t just sell your gold to anyone! There are numerous buyers that will gladly accept your gold, but not everyone is as trustworthy as they should be. Use your best judgment and don’t be afraid to ask questions and you’ll quickly be able to separate the good buyers from the bad. Or, just save yourself the trouble altogether and bring your gold to the most reputable pawn shop in Olathe, KS: Harrison Street Pawn and Gun!