Selling Gold

Selling your gold is a move that should be handled with the utmost care. There are a number of factors one should take into consideration before parting with your precious metals. In order to see a sound return on your investment you should anticipate the market and attempt to sell when you will be receiving a healthy amount of interest on your initial purchase. After all, if you are not making a profit, what’s the point?

If you want to see the maximum return for your gold then it is imperative that you are aware of your rights as a seller. Pay close attention to the following hints and tips before making your way down to your local dealer to sell your gold.

Firstly, you need to be completely sure what you are selling. This may sound obvious, but it is extremely important if you wish to get the most out of your gold selling experience. Ensure that you know the weight of the amount that you are selling and the carat value of the gold. It is always a good idea to sort your gold into different carats before you arrive at the dealers. You can determine the carat value of a certain piece by checking the inscription, ie. 375 = 37.5% gold = 9 carat. However, if you are unsure then feel free to take your gold to a reputable jeweller when it can be graded. Rather know the value of what you have before you arrive at the dealers to avoid being caught out. You can determine the weight of your gold by simply using a gram scale.

Now that you have done all the preparation you are ready to exchange your gold for cash. It is extremely important that you check up on the gold price the day you decide to sell. This simply avoids any nasty surprises later on, not to mention that you will not be taken for a fool if you are up to date with the market. When you arrive at the dealers there are a few rights which you possess as a seller which you should not forego. It is your right to ensure that all calculations are done in front of you and you should also be encouraged to inquire when the scales were last calibrated. They should be calibrated on a daily basis.

Finally, beware of any dealer that adds a transaction cost. This is frowned upon among gold dealers as it is seen as unethical and unprofessional.