A common staple for television
and film adventure stories is that gold and treasure is always equaled to
fortune. There is no denying this fact, but something that many people seem to
neglect is how to properly sell their gold. Not many realize how easy it is to
lose profit. With these tips, you can be ensured that this will never happen to
you. You can be ensured that you can sell gold easily and proficiently.
The process of selling gold
largely depends on what type of gold you are selling. The most common is gold
jewelry. Selling gold jewelry is a fantastic way to earn some quick and easy
money. The first thing you must do is determine the overall market value of
your jewelry. There are several steps involved that allow you to take advantage
of your gold's worth.
The first step is to determine
the gold percentage of your piece of jewelry. A piece of gold jewelry that is
twenty-four karats has one-hundred percent gold. To determine the gold
percentage of your jewelry, simply divide the number of karats by twenty-four.
If your piece of jewelry is twelve karats, that means it only has a gold
percentage of fifty percent.
The next step is to identify the
weight of the gold in your piece of jewelry. This can be done by multiplying
the gold percentage of the jewelry with the overall weight of the piece of
jewelry, measured in grams. If you’re gold percentage is fifty percent, and
your piece of jewelry weighs thirty grams, then that means the weight of the
gold in the jewelry is fifteen grams.
Once you have the gold weight in
grams, it must be converted to ounces, as this is the standard measurement used
for gold. The conversion rate for grams to ounces is that one gram is equal to
0.0353 ounce. All you need to do is multiply your gold weight by 0.0353 to get
its weight in ounces.
Now that you have the gold weight
in ounces, you can identify the exact market value of your gold. Simply
research the current gold rate that gold is selling for and multiply by the
number of gold weight ounces in your piece of jewelry. The gold rate is
constantly fluctuating, so it is best to make sure you have an accurate as well
as current rate.
Knowing the market value of your
gold is a key element in achieving maximum profit. This will also allow you to
avoid getting swindled or scammed by a gold buyer. If a buyer is bidding a
price that is below its market value, then you know that you are not getting
the best deal. It's best to tell your buyer that you are aware of your piece of
jewelry's value. This will repel any further attempts at scams or anything
similar. Sometimes, its fine to sell gold for cash less than its market value, as it is often difficult to find
a buyer that is willing to purchase the gold for its full value. The lowest you
should ever go is fifty percent. Any lower is unacceptable.
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