Tips About Selling Gold

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With each day’s diverging economy, stocks are out and gold is in. The thing that you need to look out for is selling gold.Gold has been for several years the best way to get instant cash. There is a way how some people handle gold. They buy when the prices are lowest, and sell it when the prices are higher than usual. So when you sell gold in Bangalore or anywhere else across the world, you should know these things before you do that.

 

#1 Understand the Scales

When selling gold, you should inquire about the scales used to weigh your gold. Some gold buyers might use the imperial units while others might use the metric units. The imperial units while measuring gold are troy ounces and troy pennyweights. The imperial units are used in the USA. On the other hand, the metric system of units used for measuring gold is grams and kilograms which is used everywhere except in the USA. 

 

#2 Remember the Karats

Gold is often mixed with other metals to make it more durable and also make it more shinier. This is why your gold is either 18K or 22K. Now you might imagine, what is the K suffixed to the numbers. The letter K indicates Karat. Karat refers to the measurement used to indicate the amount of gold contained in the jewellery. It is important to know the karat of your gold, because you should know that the higher the karat , the more gold content it has and more is the cash value.

For example, a gold coin stamped at 18K will have 18/24 parts of gold. This means that 18 parts are pure gold and the remaining 6 parts are other metals added. This will make 75 percent of pure gold mixed with 25 percent of other metals like copper, silver, zinc etc. 

 

#3 Seperate your Karats Before You Sell Gold

When you are about to sell gold, make sure you keep your gold separated according to the karat content. This is because when a gold dealer weighs your gold, they can say all of the gold you have weighs the same and trick you of the cash value you have to receive. Always separate your gold jewellery according to the karats of gold they belong to. This way you avoid yourself from being tricked of the value you are to receive. 

 

#4 Know the Prevailing Market Price

Always ensure that you are aware of the prices that are prevailing in the market that day. If you go to the gold dealer while being unaware of it all, not all gold dealers are kind to help you with the right price value for your gold. So it is suggested to be informed of the prices before you even visit a gold dealers store.

 

#5 Be Wary When You Find Sell Gold Online

If you want to sell gold online, then make sure you understand everything mentioned  in the terms and conditions. Take necessary photos of your gold before you send them away through mail service. Also make sure you have the necessary bills to prove that the gold rightfully belongs to you.

 

If you are thinking of reading more about jewellery then read this article about Beautiful Gold Ring Designs for Women

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