Buying or selling gold with intent to earn a bit of extra cash is not an easy task even though you have a lot of different sources to us for your benefits. There are a lot of contributing factors that will make it a hassle free transaction. You will first need to find the best places to sell your gold bars, coins or bullions and the best places are those that you can trust. Ideally, you must choose a locally owned and operated gold dealer though there are different reputable online sources at your service. Make sure the personnel are knowledgeable in valuating gold.
Use Proper Equipment
As the value of gold largely depends on the weight and karat specifications, you must choose ‘cash for gold’ or ‘we buy gold NYC’ shop that has and uses proper equipment for measuring your gold accurately. There are different metric systems followed in different states by the jewelers and therefore you must know the systems and also the equipment. Any reliable and well established gold dealer will provide you with guidance and valuable information when you want to sell this precious metal. Another quality that will separate a good trader from the other mediocre ones is that they will offer honest and fair price.
Consider The Offers
Just as purchasing any other product you will also need to shop around quite a lot when you want to find a reliable buyer for your gold. Remember, you must not jump at the first offer from the first trader that you meet. Shop around for different bids, compare the price and make sure you select the best one amongst them to get the real value for your jewelry. Therefore, have your item appraised before you meet several potential contenders for selling. This may cost you bit more upfront but you will know the exact worth of your gold item considering the weight, craft, embedded gems and artistic worth. You can use a gold value calculator as well.
Do Not Be Unrealistic
You must be realistic while you want to sell gold. Beware of scams and other sources of selling gold such as gold parties. These parties are usually hosted by neighbors and friends in their homes and these are mostly for fun rather than the value of gold. If you intend to sell your gold in such parties then expect to receive an amount that is about 70 to 80 percent of the actual value of your gold.
Carry Your ID
Always bring your ID along with when you visit a gold trader. This will protect you from any legal obligations or hassles in selling the gold. Most authentic gold buyers will follow the rule set and ask for a valid identification issued by the government. This will save you from police investigation as well in case there is any issue with the shop for selling or buying stolen property or money laundering. Consider it to be a red flag when you are not asked for your ID while during selling gold.