You may be selling your old gold because of changing priorities. Maybe you simply need the cash. Perhaps your golden items don’t have the same personal value they once did.
Gold will always hold value but keeping it as a personal possession is risky. Precious metals attract robbers. If you’re paying to store it or insuring it against theft, that’s an extra expenditure.
There are stocks and cryptocurrencies that can gain worth faster with fewer side costs. Using money from selling your old gold to acquire superior moneymakers may be a better bet. These tips will help you safely sell your gold.
1. Find a Trusted Company
While selling your gold, your mission is to not be ripped off. Some folks in the precious metals industry devote their entire lives to shortchanging customers. If you underestimate their ability to scam you, you are essentially stealing from yourself.
Fraudsters can take on many forms. Some may appear in pawn shops, dressed in worn jean jackets with frayed sleeves, projecting an air of gritty honesty. Others don tailored suits, subtly siphoning money from unsuspecting customers by manipulating the true prices of items in upscale boutiques.
Luckily, neither uptown nor downtown gold buyers can fake a good reputation. Solid, reliable businesses operate on trust, and Leduc Goldsmiths is your go-to place. Do your research. Ask around. Find out what previous customers think of the organization you’re considering bringing your old gold to.
2. Be an Informed Seller
Not all that glitters is gold. Nor does gold have a uniform level of quality. It can range from ten to 24 karats. The lower-tier stuff is mixed with copper, nickel, or silver. Of course, purity affects price.
The karats of the items you hold can be professionally tested.
If you bought the thing you want to sell when it was new, you should have documentation of the metal’s purity. However, if you don’t have that information, there are several ways to get it professionally tested. These include:
- X-ray Fluorescence Spectroscopy
- Inductively Coupled Plasma Mass Spectrometry
- Electronic Precious Metal Tests
If you have any doubts about the buyer you’ll be approaching, getting an independent analysis may be wise. Getting quotes from more than one seller can accomplish the same thing. Seek more than one opinion if possible.
3. Know the Value of Gold
Gold has enjoyed a surge in value during the last two decades, but that isn’t the buyer’s only consideration. Even if the absolute worth of this metal is solid and predictable, the local market may be temporarily saturated.
There are also small dips in price that can be of concern. Have a look at the recent changes in gold’s value so you can have an informed discussion with your buyer.
Let Leduc Goldsmiths Buy Your Old Gold!
Leduc Goldsmiths should be your first choice for selling your gold. Located in Leduc Alberta, we’re proud to serve as one of our province’s most trusted buyers of gold. We make fine jewelry and watches and are always on the lookout for usable precious metals. So, when you arrive with gold we can purchase, we’re happy to buy!
We depend on our reputation to attract customers like you. You’ll get a fair deal, so contact us today!