Do's And Dont's When Selling Gold Jewelry
As economic times get more and more difficult, many people are looking into liquidating their assets to get some much needed cash. One of the first things to go when times get tough is the gold jewelry and other gold items. Selling gold jewelry is good both for the buyer and seller. The sale of jewelry by the owner is not a profitable venture. They will probably not get what they originally paid for the necklace, even if made of 24kt. gold. This is because they purchased the necklace that had a large markup due to the charges for workmanship or craftsmanship. The gold is now being sold for its weight in gold and if not 24kt. gold there is much filler in that necklace.
It is still a good deal if they never wear the jewelry and in need of cash in these tough economic times. The buyer will obtain gold which can be melted down and sold to be re-used. The buyer gets a good price so is assured of a nice profit. In general selling gold jewelry is like selling anything else you no longer have use for but can use the few extra dollars.
Beware Selling Gold Jewelry Scams
If you have a gold coin necklace or pendant, then likely this would be a good item to look into selling if finances are getting tough. These necklaces are often worth a good deal, though not quite what the spot gold value is currently at. There are many online and mail in companies that will "buy your gold jewelry" and "turn your gold into cash." These are of interest to many, but be very careful as quite often they are nothing short of rackets and scams that give you pennies on the dollar for your valuables. Once the gold leaves your hands, it's very hard to get it back, and they employ all sorts of methods to trick you into selling your gold for less than it is worth.
Many unwary people have been caught by these schemes and have regretted it very much. Former employees of these companies have openly admitted the scams and less than savory methods they use to buy your gold items cheap and pressure one into practically giving them away. This isn't to say that all these companies are scams, but be sure to do your research first.
Sell Your Gold At Home And Making A Gold Bullion Investment
A better idea is this: some people invite buyers and hold gold-selling parties which is a good idea because the buyer is very interested due to the large amount of gold jewelry being sold at one sitting. The seller should check a few buyers as to which will offer the better price. Homework must be done in that the seller should know the price of gold per ounce minus the commission. A little math is necessary in figuring out what percentage of the necklace is gold by its karat weight and the weight of the whole necklace. After computing this you will see the commission or spread in the price of the amount of gold you have and how much money is being offered.
If your finances are doing well at this time, then perhaps you are more interested in making a gold investment. At GoldSilverInvestments.com we help inform you of what options are available and provide all the resources free of charge for you to make wise decision and get a good deal.
Selling gold jewelry is another tool in economic survival or in garnering some extra cash for something more important to you. You might even sharpen up your math skills.