Selling Gold

Selling Gold in a Struggling Economy

Gold prices have reached an all time high; therefore, if you have been wondering what to do with the pile of gold jewelry you no longer want, consider selling it while gold prices are still high. Furthermore, you may want to act soon. Whenever the economy dips, gold prices rise. While gold will always be invaluable, the most opportune time for selling gold items is now while the economy is still struggling.

Who Purchases Gold

If you are indeed considering selling gold, you have a number of options. You may sell to pawn brokers, jewelers and gold refiners or even scrap gold dealers. These gold buyers typically take the gold pieces they receive and melt them down. The gold is extracted from the piece and remade into another items. Obviously, gold remains valuable because it is constantly reused. Once gold is removed from the earth it is never purposely replaced into the earth. Instead it is used and reused for various purposes.

Things you should know while selling gold

Because their value is easier to determine, gold bullions and gold coins are the easiest items to move when selling gold. Another gold item typically purchased is scrap gold. Scrap gold is any gold item that is at least 10 karats - almost any gold item can be considered scrap gold. Scrap gold is usually broken but the cost to repair is not economical. Additionally, outdated gold items or gold items that are no longer fashionable can also be considered scrap gold. Yet another popular gold item often bought by gold purchasers is gold watches. Many fine watch makers such as Rolex and Seiko use gold when manufacturing their watches making these watches more valuable and of course resalable in the gold market.

The price factor while selling gold

When contemplating selling gold, you probably wonder how the price of your pieces will be determined. Gold purchasers often employ appraisers who can determine the value of just about any piece of gold item. The appraisal to determine the value of gold pieces usually involves three steps. First the jeweler looks at the piece to determine how much gold is in the piece. Your fine jewelry for example will have a karat mark. This mark determines how much gold is in your jewelry. A 24K mark means that the jewelry is 24 karats gold and therefore is 100% gold. An 18k piece is 75% gold, a 14K is 58% gold and a 10K is 42% gold. Next the gold purchaser will consider the gold weight of your item. A piece with more gold will have a higher weight value and will therefore earn you more if you are selling gold. For example, you will fetch a better price if your item is 24 karats than if it were 10 karats. Depending on the purchaser that you are selling gold to, the condition of your item you are selling comes into consideration. Fine jewelers, for example will give you a lower amount for damaged, or scrap gold. The condition of your gold has no relevance to King Cash Gold. We value the items based on the amount of gold in your item and the current market prices.

Why is selling gold lucrative?

In this struggling economy, you may be considering selling gold. You are not alone. Many individuals are choosing to sell their gold items to offset financial obligations or simply because the time is right for a sale. You may simply want to get rid of pieces that you no longer use. Whatever your reason, gold prices are up and now is definitely a great time for selling gold.

If you are unsatisfied with the valuation of your gold, simply return the check and call us within twelve (12) business days of the date of the check, and we will promptly return your items to you.