Many U.S. consumers have found that selling gold items is a great way to generate cash in a down economy.
The following gold items may have value that you have not considered: bangles and bracelets, broken jewelry, chains and necklaces, pendants, brooches, earrings, coins, rings, charms, and cufflinks.
If you are considering selling gold, consider these five steps:
1. Check current gold prices to estimate an approximate price for your gold items before you sell.
Gold prices are currently high. Check a gold calculator to get an estimate before walking into your appraisal. The calculator should take into account the carat and weight of the item, as well as the current market price of gold.
2. Consider the characteristics of your gold item.
The offer will be made based on carat and weight of gold in your items, the current international gold price at the time, and the quality and origin of the item. Know the characteristics of your gold item.
Carat is a measure of the purity of the gold. The higher the purity, the higher the item’s value. So the higher the carat, the more the item is worth.
Check to see if your item is hallmarked. A hallmark is small series of stamps often located on the inside of a piece of jewelry or a non-obvious place. It often states the purity and carat of the item, the date it was made, and the manufacturer.
Know the weight of the item. A precise, digital kitchen scale will give you the item’s weight in grams.
Know the origin of your item.
3. Remember that you are under no obligation to sell.
Once you receive your quote from the buyer, you are not obligated to sell. The buyer should be happy to provide you a complimentary, no obligation quote. You can always return another time to sell your item.
4. Don’t forget your ID.
The buyer will likely require photo identification, so do not neglect to bring a valid ID to your appraisal. Make sure you have allotted enough time to complete any paperwork that may be associated with the sale of your item.
5. Research the buyer.
Ensure that the buyer is a member of the National Pawnbrokers Association. The National Pawnbrokers Association is a group of responsible pawnbrokers in the United States. It is the pawnbroker industry’s only national trade association, and offers compliance training related to the federal, state and local laws as well as guidance on best business practices.
Check online reviews to see how the buyer is rated by past customers. Check to see if the buyer has been reviewed by the Better Business Bureau. The Better Business Bureau offers ratings of business, monitors business for compliance with good business standards, and fords and helps resolve consumer complaints.
The professional staff at Best Collateral is expertly trained to carefully assess gold items and offer fair, competitive prices.
Our customers agree. We have a long reputation of providing fair quotes to consumers selling gold items. Visit one of our 8 locations in the San Francisco area for personal, attentive service to selling your gold jewelry, watches, or other items.
Best Collateral is a member of the National Pawnbrokers Association, and has decades of expertise in buying and selling gold.