Do you want to sell old gold? Here are a few tips so that it doesn’t turn into a failure. The essentials in brief:
- If you want to sell gold, you should get several offers for it.
- When shipping, keep in mind that packages are only insured up to 500 dollars.
- Be vigilant when buyers come to your home: they might be spying on you for break-ins later.
The gold price is currently at an all-time high. A troy ounce (31.1 grams) costs (as of September 2020) around 1,650 dollars. This is interesting for owners of old jewelry, coins and bars. On the other hand, it also attracts traveling and stationary buyers who want to cheat inexperienced owners of the precious metal with low offers. Some try to do so on the pretext of wanting to buy furs and antiques. At least that’s what they claim in advertisements that they place at the right time for their intermediate stops. The appraisal of the objects also takes place at home with the sellers. At the Pawn shop Sydney you can expect the best.
But the consumer advice center repeatedly complains that buyers only accept furs and porcelain in connection with a gold purchase. On top of that, the sums offered are far below the value of the old treasures. A few tips to ensure that an intended gold sale does not turn out to be a flop:
In jewelry, often neither the craftsmanship nor the emotional value is rewarded, but mostly only the material value. If you want to sell jewelry or other valuables, you should therefore pay particular attention to engravings: The digits 333, 585 and 750 refer to the percentage of gold in per mille. 333 indicate that a third of the total weight is gold. For bars and coins, the gold content is fixed. Purchase prices for this hardly fluctuate on a daily basis and can be viewed online via comparison portals.
Obtain Comparison Offers
If the treasures are not engraved, a local precious metal dealer or jeweler can help with the valuation. They can determine the fineness of gold using a sample. However, you should not only rely on an estimate, but also consult the competition. Because purchase offers can be very different. You can Click here to know more.
Traps When Selling Online
Gold can also be sold online. Shipping to the buyer is subject to risk because parcels are usually only insured up to 500 dollars. If there are higher values in the package, you can go away empty-handed if you lose them. The same applies here: You should be able to assess the value in order to be prepared against low buy-out offers. It can also be legally tricky if internet retailers declare the gold bullion that has been sent to be counterfeit and a plagiarism is returned.
Beware Of Home Visits
Anyone who lets unknown buyers into the house should be aware of the risks. Laypeople cannot competently judge possible money bids. The question of whether there are other valuables available is also to be expected. Be suspicious: you could be spied on.
For owners of larger amounts of gold and jewelry, it can be worthwhile to hire a professional appraiser to assess the value to be on the safe side. Disadvantage: the expert service costs.