How To Determine The Cash For Gold Prices For Your Gold Jewelry

How To Determine The Cash For Gold Prices For Your Gold Jewelry

If you plan to sell your gold jewelry to a cash for gold company, you should first find out how much value it is worth based on the current market price. One way to find out the value of your jewelry is to check with your local jewelry store. It is important to know the value of your jewelry prior to shipping it in a mailer kit to the cash for gold company as you may make a mistake by accepting an offer price that is far lower than the actual value.  

financialadvisersblog

The two major factors that determine the gold prices are scale and karats. Jewelers use a special type of measuring scale called Troy ounce to measure the gold. The normal U.S. scale of 31.1 grams is equivalent to one Troy ounce. Normally, you will be paid for the gold based on grams. Scam dealer swill try to cheat you by weighing your gold on pennyweight. You have to describe the karat value of your jewelry to the dealer.

Most jewelries are combined with other alloys of metals because pure gold is too soft. For example, 14 karats means it consists of 14 parts of gold with the other 10 part consists of alloys made from other types of metals. You should send jewelries of the same karat values in a single mailer pack. If you have a jewelry that has a different karat value, you should send it in a different mailer pack. If you send jewelries of different karat values in a single mailer pack, you will get a lower offer price because the dealer will put all the jewelries on the scale and weigh them together.

Different types of gold jewelries have different values so you must know what type of gold jewelry you are selling. For example, a designer gold jewelry will be more valuable than a non designer gold jewelry. It is important that the cash for gold company is rated with BBB. You can visit the BBB site to see if any customer complain about the cash for gold company. You must not forget to read the fine print and understand the terms and conditions of shipping your jewelry through the mailer kit.

The mailer kit must be covered with an adequate amount of insurance. Before sending your gold jewelry in the mailer kit, you must get the full details for example the number of days that is given to you to accept or reject the offer and how long it takes them to send you the payment for the jewelry. It is best to take photos of the gold jewelries prior to sending them in case the company is scam and did not pay you for the jewelries.

If you are not satisfied with the offer price, you can reject the offer. There is no need to be rush in accepting the first offer since there are plenty of cash for gold companies that will buy your jewelry. You can take your time to shop around and find a company that will pay you with an even better price than the first offer you get.