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4 Top Tips to Sell Your Gold for Cash

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sell gold for cash

Investing in gold metal is perhaps the best investment you could make. You can wear the yellow metal in great style in grand functions and celebrations, as well as, you can sell it in the time of dire necessity. When you have made up the mind to sell the precious gold that you have been treasuring till now, make sure you obtain the best value when you sell your gold pieces.

Always gold has a high demand in the market that results in offering higher monetary value. When you need cash urgently, you can earn good money by selling your gold. You can obtain excellent returns on selling your gold by lowering any drawbacks. Here are the top tips to sell your gold for cash:

sell your old gold for cash

1. Make out whether your gold jewellery is whole or scrap piece

First and foremost, make out whether the piece has resale gold value. Categorise your gold pieces into antique, vintage or designer ornamental piece. Next, it’s important that you make your gold pieces look valuable.

2. It is Imperative to Clean Your Gold Pieces before Selling

One intelligent and simple way to make your gold jewellery look stunning is by reviving its shine. How to do it? It’s not rocket science – you just need soap and a bowl of warm water and soft bristles brush for cleaning your gold ornaments. Voila, your gold pieces will look like new again.

3. Identify Your Gold Jewellery’s Karat Value

Gold jewellery comes engraved with hallmark for ascertaining its purity. It is a vital element as it determines the resale value of your jewellery piece. The higher the karat, pricier it gets. Thus, you need to know the karat of your gold pieces along with its weight to estimate its price.

4. You Should Know Gold’s Current Market Value

These days, there are many websites online wherein you’ll find the current market value of gold metal – one such website is Goldprice.org. By knowing the gold’s karat and its current market value, you can estimate the price for your gold jewellery even before you take it to sell.

Those are the four top tips to sell your gold for cash. Now, you’ll wonder where you should go to sell your precious gold jewellery. Two places are most commonly used to sell your used gold jewellery viz. (A) Jewellers (B) Pawn Shops.

A) Jewellers

Jewellers can provide a better price for your gold jewellery, but most of them will only offer you a store credit. That means you will not get the cash, which you need so badly to deal with your financial obligations at hand.

B) Pawn Shops

Second hand dealer pawn shop

At pawn shops, not only can you sell your gold for cash but also you can pawn your gold for cash without selling it. If you want to repossess your gold jewellery, then pawning is a good option for you. However, if you don’t want to reclaim your gold pieces, then selling gold for cash would work better. If you want to sell gold for cash and want to obtain cash speedily, then you should sell it to the pawn shop.

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