After I entered the job force at 18, I had money problems for quite a number of years. I earned a decent income, but I lived paycheck to paycheck and just felt like I would never get ahead financially. One day, determined to get ahead, I decided to record every purchase I made for a month to find out just where my money was going. I learned a hard lesson that day that small purchases here and there throughout the month really add up. I committed to a much smaller budget and began stashing savings away. Then, I researched the world of investing and made a few strategic ones with some of my savings. I am now doing much better financially, and I want to help others who need it, so I am starting a blog. Come back often for money management tips and tricks explained simply!
Gold has always been a highly valuable commodity throughout the history of transactions. The most impressive thing about this metal is that it never loses its value despite political and economic factors. Today, investors have no better way to hedge around inflation than investing in a little of this precious metal.
It is possible to buy and hold gold in many forms, with the most common ones being the coins and bullions stored in the bank. On the lower scale, your gold jewelry can be a great investment of this precious metal. Ultimately, the goal is to get something you can give away for cash when in need. Here are some essential tips to follow when the time comes to sell your gold.
Understand the Measurements
Pure gold is too soft to be used alone in any application. Therefore, the manufacturers combine it with other metals for color and durability. Some laws govern the design and sale of gold. For example, federal law states that a seller should accurately describe the karat fineness in the alloy during a sale.
So when selling your jewelry, understand these scales as they will help you get an excellent deal from the buyer. And if you have more than one piece of jewelry, weigh each separately, especially if they have different karat values. Doing this enables you to get the precise value of each piece.
Understand the Value Attached
Some pieces may have more value than their weight and karats. For instance, a golden jewelry piece from a famous designer might be more valuable to the buyer when whole than when melted down. Therefore, it is best to research your market about the value of the item you want to sell before approaching the buyers.
Understand the Scales
Buyers always weigh the jewelry you present to them before making an offer. The Troy Ounce is a measurement standard that most buyers use to quantify this metal. Some buyers also use the Pennyweight method to measure it.
As a responsible seller, you must ensure that your measurements and those of the buyer tally as it is the only way to get a high-price offer. Most importantly, deal with the buyers who have a reputation of using proper weighing methods.
These are simple but essential tips to help you get maximum returns when selling your precious metal. The most important thing to remember is to work with reputable buyers. They will make the sale easy, beneficial, and stress-free for you. If you are interested, visit a gold buyer in your area.
Share23 February 2022
