Steps for Making a Profit When Selling Gold

You may have a stash of old jewelry or some ancient gold coins hanging around in your attic that could be exchanged for money. If this is the case, consider the following tips regarding getting the best possible amount of cash for gold in Atlanta.

Understand the Realistic Potential

The first step toward being satisfied with any transaction is understanding the realistic amount you could get for your sale. For example, buyers are likely to melt your gold down after they purchase it, so you will get paid only for the content of gold in your pieces. If you have a beautiful piece of jewelry with intricate workings, you’ll still only get the scrap value for the weight of the gold. Buyers are not likely to pay for the excellent workmanship. Additionally, the buyer will also have to pay a fee for smelting, so they are likely to pay that much less when giving you cash for your gold.

Determine the Purity and Value of Your Gold

The second step is knowing how to determine the purity of your gold. Buyers will pay more for more valuable gold. 24 karat gold has a much higher purity level than a 10-karat gold. This means that a necklace with a tiny amount of 10k gold won’t be worth nearly as much as a watch that contains a lot of 24k gold.

How to Sell Gold

The third step in making a satisfying purchase is understanding how to go about selling your gold. As you consider the options, look for a balance between convenience and price. You could send your gold through the mail. This is an easy transaction where you receive a receipt and a low percentage of the value of your gold. The second type of transaction takes place in a hotel setting. Companies that buy gold use high-pressure tactics to get you to sell your gold and collectibles at a low price. Once again, this is fairly convenient, but you don’t get much in return. The third method of selling gold and jewelry is to visit directly with a dealer at a local jeweler or coin shop. You can expect to receive up to 70 percent of the value of your gold, just be sure that you know what that value is. Next, you might consider selling your gold at a pawn shop. Once again, you may not get a high price for the gold, but it is a convenient way to get some cash for gold in Atlanta. Finally, you might consider attending a gold party. These are run like a lot of multilevel marketing events. The company and the host will receive a percentage of the value of the gold and the host (who may be evaluating your gold) may not be very knowledgeable about judging that value.

With these three steps, you may be ready to make some cash, so head up to the attic in search of dusty treasures.

Kevin Smith is a writer and an avid reader. He writes about business, marketing, health, pets, or relationships etc.