If you are consider buying or selling gold or other precious metals, you likely will have many questions˳ These questions range from who will actually buy your gold to who can you trust˳ You may also be concerned about whether or not you will be offered a fair price˳ Spending a little time doing your research now to have these questions answered will help ensure that you receive the best prices available˳
Who Buys Gold?
There are many gold buyers around today˳ You may have even seen ads on TV offering to buy your scrap gold from you˳ It is also possible in some cases to take your old jewelry to a typical retail jewelry store (although not all of them will be willing to buy)˳ A pawn shop will be more than willing to buy your gold or other precious metals˳
None of these options will give you a fair price for your gold˳ Many of them tend to operate just above the level of con artists˳ The best option may be to find either a company that wants to buy gold directly or a refinery˳
Finding a Reputable Buyer:
The key is finding a buyer whom you trust˳ One of the things that almost all of the scams out there have in common is that they will not tell you up front how much they pay˳ Obviously, each piece is different˳ However, the consumer certainly should know what the rate is per gram or ounce of pure gold˳
Conversely, a reputable buyer of precious metals will tell you up front exactly what their rate is˳ This gives you the opportunity to figure out approximately what you will receive˳ Then, you will be in a much better position to make a decision about where to sell your gold˳
Whoever you choose to buy your items should also have very clear policies˳ This includes a solid guarantee and even a return policy˳ If possible, try to find some reviews about the business in question, making sure they stand behind their guarantees˳ It is even better if the business will provide an actual appraisal (better still if this is done by a trusted outside agency)˳
Calculating Your Price:
To many people, the process used to evaluate their gold and other precious metals is a mystery˳ However, it all comes down to a very basic mathematical formula˳ The factors involved are:
1˳ The weight of the actual gold
2˳ The purity of the gold
3˳ How much is offered per gram or ounce
The first step is weighing your gold˳ If there are no additional stones, this is a very simple process˳ You can use an inexpensive jeweler’s scale or even take it to a retail store and have them weigh it˳
Now, determine how much actual gold is in the piece˳ The purity of the gold is determined by its karats˳ Twenty-four karats is pure gold˳ To determine the percentage of gold in other karat classifications, simply divide by 24 (therefore, 14k is 14/24 or˳5833 pure gold)˳ Multiply this number by the weight of your item˳
Dividing the spot price of gold by 31˳1 will give you the spot price of gold in terms of grams˳ From here you can easily see the “full” value of your gold˳ Compare this to the rate you are being offered˳
Source by https://ezinearticles˳com/?Scrap-Gold-Buyers—An-Overview&id=7101798
