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How to get maximum cash for gold

In the current volatile financial market, gold is one of the few assets whose price is increasing steadily. Throughout our lives, we accumulate gold jewelries, bullions and other items that may come to our aid when sudden need for cash arises. Although there are large numbers of buyers ready to purchase gold, it is advisable to check the credential of the buyer before selling your precious possessions.

Know your gold’s worth

The price of gold changes almost every day. Before selling your gold scraps, it is advisable to check the prevailing price of the metal with a recognized organization. Despite claims made by several buyers that they offer the best price for the metal, while comparing their prices with the real market value of gold you might discover that the price offered for the metal may be only a certain percentage of its real value. Therefore, to get the best value of your gold, make sure that you know the correct price of the metal while selling it.

Know the karat number

Now that you know the prevailing market price of the yellow metal, it is time to decipher its karat number. The karat number indicates the amount of pure gold present in an item. The higher the karat value, the lower the impurity content in the item and higher is its worth. Usually the karat value is inscribed on the gold jewelry. To read the tiny number, you may need a magnifying glass. If you cannot find the number, or suspect its actual value, take it to a gold dealer to have the gold tested. 24 is the highest karat number of the purest gold object.

Know the weight

To get an idea of the value of the gold scraps, weigh the items. Instead of weighing the items on ordinary food scales, it is advisable to use a jeweler’s scale to determine the actual weight of the objects. Gold is largely measured in grams. Normally the prices of the metal are stated in grams. As ounce is another common unit for weighing gold, it helps to know the method of converting grams into ounces, to determine the weight of the gold scarps in both the units. Several jewelers still use troy ounce, the traditional unit for measuring gold. One troy ounce is approximately equal to 31.1 grams.

Now that you know the weight, karat value and the prevailing price of the metal, you can easily sell gold in Wolverhampton calculate the market value of the gold item.

If you want to sell gold scrap and sell gold in Wolverhampton at good prices. We provide all kind of cash for gold at best prices.

How to sell gold in Wolverhampton

During financial hardship, a large number of people sell gold for cash. Regardless of your location, you can find individuals, jewelers and companies that deal with gold. You can even sell gold in Wolverhampton, where offices of reputed buyers are located.  

Sell gold to a registered buyer

To get the best deal for your valuable possessions, you need to do a lot of homework. Despite your urgent need for cash, you cannot afford to sell gold in a hurry. There are unscrupulous individuals and companies that are trying to dupe sellers with lucrative offers. Avoid gold parties where buyers and sellers conglomerate. Numerous sellers have bitter experiences of responding to such tempting offers, eventually earning money that is only a small fraction of the actual value of the metal. Hence, it is advisable to check the credentials of the buyer before selling the precious items. The safest option is to sell gold to a registered buyer. The buyer can be a jewelry store, a company or an individual.

Know the scales

Although gold is largely measured in grams, there are other units for measuring the metal. Jewelers use different types of scales for weighing gold. Common units used by gold dealers include ounce, Troy ounce and pennyweight. One ounce is approximately equal to 28 grams, whereas 31.1 grams is equivalent to a Troy ounce and one pennyweight is equal to 1.555 grams. Even slight difference in scales, such as between pennyweight and grams, causes significant variation in the price of the gold item.

Separate gold items according to their karat value

Pure gold cannot be curved into jewelries. Impurities are blended with gold to give jewelries their appropriate shape. Only jewelries with 10 and higher karat values can be labeled as gold jewelry. Pure gold has a karat value of 24. When you intend to sell gold items, do not weigh pieces of different karat values together. Separate the items according to their karat value. While appraising the value of the jewelries, unscrupulous buyers tend to pay for the lowest karat value. Karat values are often inscribed in the jewelry or you can take the item to a jeweler for an acid test.

Separate standard jewelries from historic items

Historic items tend to fetch a value that is higher than the market price of gold. You may auction these items or sell them to collectors.

Know the market price of gold

Before selling cash for gold, verify the market price of the metal.

If you want to sell gold scrap and sell gold in Wolverhampton at good prices. We provide all kind of cash for gold at best prices.