The price of gold is increasing steadily, so people are selling broken and unwanted jewelry for cash to pay bills or go on vacation. You may be tempted to sell your gold to the first place you find, but you should educate yourself with these tips before selling. Visiting a we buy gold Los Angeles store will help your get the most money for your jewelry.
Weight
Gold buyers determine the value of the gold by weighing it. There are 28 grams in a standard ounce, but jewelers use a Troy ounce, which has 31.1 grams per ounce. Some gold buyers also use a unit of measurement called a pennyweight to measure a Troy ounce, and a pennyweight is equal to 1.56 grams. Ask the dealer what unit of measurement he is using so you get your fair share.
Karats
Jewelry is rarely made out of pure gold because it is a soft metal. Gold is mixed with other metals to make it more durable. All jewelry sold in the United States has a karat rating. This tells you how much of the metal is gold, which helps determine its value when you sell it for money. Know the karat value of your jewelry before selling it.
When the dealer weighs your jewelry, make sure it is separated by karat. Some dealers weigh all of them together and pay you for the lowest karat level.
Current Prices
Educate yourself on the current rate for gold. You can check this online quickly before going to a we buy gold in Los Angeles. Remember that the price of gold changes often, so make sure you are looking at a recent value.
Research the Buyer
Before you sell your gold to a new store, ask friends and family who they recommend. Read online reviews and check with the Better Business Bureau for complaints.
Designer Names
Although the price of gold is very high right now, some pieces are worth more as jewelry than when they are melted. Pieces from famous designers tend to rise in value, so check the value before deciding to sell it for just the gold.
