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3 Things To Do Before You Sell Your Gold For Cash

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There are a lot of services out there days offering cash for your unwanted gold. While there is nothing wrong with selling your gold for money, there are a few things you should check before you sell it.

1. Check Your Gold Collection for Unique Items

Some items are far more valuable for reasons beyond their gold content. So it's worth it to give your gold a closer look before dumping it all in a bag and selling it for cash.

For example, older pieces of gold jewelry that are part of a collection may fetch a higher price if you auction it or sell it some other way. Things like numismatic gold coins can also have value far beyond their gold content.

Catalog your gold before you sell it. If there are unique characteristics, then see if you can find identifying information on the pieces to help you look them up.

When it comes to jewelry, you should understand the karat rating is an indication of how much gold the piece contains. 24k is pure or almost pure gold. 18k is 75% pure gold. It goes down from there. Many people have 14k gold pieces, which is only about 58% pure gold.

2. Check on the Current Price of Gold

Gold prices fluctuate often. It's important that you know how much gold is worth around the time you plan to sell your gold. You can even use that knowledge to negotiate a better price with any gold buyers that allow negotiation. Many gold buyers base their gold pricing on whatever the market value is at the time they receive your gold.

3. Get to Know Your Gold Buyer

It's important that you understand how the gold for cash process works with your gold buyer of choice. To that end, you should spend a little time researching the business. You'll want to talk to someone from the business and ask about their process.

When researching, make sure you check out any fine print the gold buyer has. It can tell you a lot about how they base their pricing, their return policy, and if they have any liability clauses. This is especially helpful for gold buyers that require you to ship your gold to them.

Sell Your Gold With Confidence

Know what you have, do your research, and sell with the knowledge that you're making a fully informed decision. Once you understand how it all works, you can sell your gold with confidence. You may even feel inclined to repeat the process in the future.

For more information, contact a cash for gold company like Advance U Cash.