When you start shopping for a car, you might be more concerned with additional features and specialty paint jobs than you are about the monthly bill. Unfortunately, the wrong financing can cost you dearly. Compound interest never sleeps, which means that you might be paying much more than you should if you work with the wrong lender. I want to help you to make great financial decisions, which is why I created this website. However, if you can remember a few tricks and keep those payments to a minimum, you can drive away with the car of your dreams without breaking the bank.
If you are going to sell some of your old gold jewelry to raise some quick cash, then it is vital that you understand how the process works and how to get the best price for your scrap gold items.
Follow these tips to sell your unwanted gold jewelry for the highest price possible:
Know the Current Market Price for Gold
The value of gold is continually fluctuating. For this reason, you need to look-up the current market price for gold before you leave home to sell your gold items. If you visit a reputable gold buyer, they will pay you the current market price for your gold when they purchase your unwanted jewelry items. If the buyer you choose is not willing to pay you a price very close to the current day's gold market price, then you should find another buyer.
Understand the Karat Weight of Your Gold Pieces
The 1906 Gold and Silver Stamping Act requires that all jewelry sold in the United States be stamped with its gold karat weight. The karat weight is a label that describes the purity of the gold used to make the item. Gold that is twenty-four karats is pure gold and a lower karat weight represents the amount of gold versus added metal. For example, eighteen karat gold is eighteen parts of gold and six parts of other metals. The other metals are added to give the gold more strength and protect the jewelry items from damage as they are worn.
Identifying the karat weight of your scrap gold items is very important, because twenty-four karat gold items are worth twice the value of those that are only twelve karat gold. For this reason, you should separate your gold items by their karat weight before you have them weighed for purchase. Without taking this step, you may find that the gold buyer will weigh all of your items together and pay you for the lowest karat weight in the group.
Bring Your Driver's License or Passport to the Gold Buyer
Finally, to help deter theft, gold buyers and pawn shops are required to keep records of the gold items that they purchase. As part of this record-keeping process, reputable gold buyers will require you to show them your driver's license or passport so that they can record its number in their required records. You should be wary of anyone who does not adhere to this requirement.
For more information, contact a professional gold buyer, like those at Executive Loan Service.
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