Wednesday, June 20, 2012

Points To Keep In Mind Before You Sell Gold For Cash

The highly volatile and sinking economy has shaken the trust of the people on the stock as well as the real estate market. The investor today likes his investment to be safe from all market risks and gold is surely the best option. This has resulted in an all time high increase in the demand for gold and has taken the prices of gold touching almost to the sky. If you are also looking to make some quick money and sell gold for cash, keep in mind the following some points to get the best value for your gold.

1. Raw gold is better than jewelry: Raw gold will anytime fetch you better money than gold jewelry. If you have a make a choice between jewelry and raw gold to sell, select raw gold without thinking twice.

2. Get your gold appraised: It is a good idea to get your gold valued beforehand. The idea here is to ensure that you already have an idea of the amount that your gold will fetch you and avoid chances of getting duped by the dealer.

3. Know the value of gold: Even a layman knows that the purity of gold is measured in Karats. You should have a proper idea about the karat value of your gold as the higher the karat value, the higher the value of gold.

4. Know the dealer's weighing scale: Gold is usually measured in Troy ounce but some dealer may measure gold in pennyweight or grams. Insist your dealer to explain you the measuring units used and don't rely on his calculations.

5. Visit at least 2-3 dealers: There are high chances that a single dealer may be trying to dupe by one means or others. Don't trust the dealer even if he is someone whom you know even for several years. Get the final quotes from several dealers and pick the one that offers you the maximum amount.

6. Check out some antique stores: In case you are trying to sell some old jewelry that your mother or probably even grandmother had worn, there are high chances that it might have an antique value. Check out with some antique store to assess the antique value of your cash. In case he is not ready to buy it, you can give it to him to put it up on sale and give him a percentage of the amount that it will fetch.

The trick to sell gold for cash at the best value asks you to indulge in a complete homework regarding the weight, value and price of the gold to be sold.

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