You may love gold jewelry but your gold also has a monetary value, and sometimes it is easy to forget that you have money hanging around your neck. The price of gold has been increasing recently, and perhaps now is a good time to ask yourself if you have anything tucked away which is worth selling. A lot of us collect jewelry, and perhaps even inherit gold jewelry, but do we need our entire collection? Isn’t it true that, just like clothes, we only wear 10% of what we have in our possession?
Perhaps you could turn some of your collection into cold hard cash. But before you do, here are some things you should consider.
Carat
It is important to understand the carat of your gold. Most gold comes in 9, 18 or 12 carats, so have a look at your gold. Many gold dealers, or brokers, offer a certain amount for each carat category.
Before you go into the shop, write down all the details of each piece so you don’t become flustered in the shop. By the way, a carat is a unit which denotes the amount of pure gold.
Weight
Be careful with weight of your gold jewelry. Yes, the dealer will weigh your gold but this is a very popular way to try to cheat a customer. Always weigh your jewelry before hand, and, once again, write it down. Follow this link to find out how you can weigh your jewelry.
Market Rate
Before you step into the dealer’s shop, you should always do some of your own research. Knowing the market rate of gold is a good idea, and the information you need is easily accessible. Once again, write the information down, or print it off. It can become a vital negotiating point. Don’t be afraid to say “No” to the dealer, there are lots of dealers to choose from and I am sure they don’t want to lose you. There are many different web sites to check out gold prices on, but this is a link to one of the better ones.
Many gold dealers also accept other items such as silver, and it could be worthwhile to find out how much silver you have hidden away. Remember, platinum is an expensive commodity as well. Sometimes platinum is called white gold, but remember it is not silver. Some dealers like to say it is a type of silver – this is not true