With gold prices skyrocketing many individuals are now considering selling that little stash of unwanted or broken gold jewelry, their gold coin collection, old rings no longer in style, or a mass of tangled gold chains from the past. The worldwide recession and high unemployment coupled with the escalating scrap gold prices has made the selling decision not a matter of if or when, but how. Gold jewelry buyers can ease the process by assessing, weighing and making immediate payment for gold dust, gold bullion, gold coins, and other gold items. Finding the right gold buyer is an important step to make sure you’re getting a fair price for your things.
A retail jeweller’s coin or jewelry appraisal is virtually useless to the prospective gold seller since stones, style, and workmanship of a particular piece affects its retail value, but not its scrap gold value. Only the intrinsic value of the gold is considered by scrap gold buyers so an 18K solid gold ring will sell for more than one of the same weight made from 14K gold.
Gold Bullion Buyers
Typically bullion buyers specialize in gold bars, wafers and fine gold coins. The main consideration is the gold content, to be considered bullion the items must be .999 fine gold or 99.9% actual gold content, this will be stamped on the item sometimes accompanied by a serial number with larger bars. Bar and wafers come in a variety of sizes ranging from 1 gram to 500 ounces, even 1 kilogram bars.
Getting the best price for a precious coin collection might be as simple as taking it to local gold coin buyers if one lives in a large city. Scrap gold buyers tend to stick to gold jewelry such as gold watches, earrings, necklaces, chains, rings brooches etc.
Gold bullion and gold dust buyers are also available locally in large cities or online. As with any financial transaction, online or locally, caution is the watchword. The seller needs to become familiar with standard procedures for buying and selling gold. They can safely dispose of their old or unwanted items using some simple tools.
Gold dust is different matter, the dust needs to melted into one solid nugget or bar and assayed, these days scrap bars are assayed using an XRF machine which determines the actual gold content using X-ray fluorescence technology, the XRF machine uses xrays to determine the chemical make up of the melted gold dust.
Due Diligence
Locally, one can check with the UK Business Registry, the U.S. or Canadian Better Business Bureau, or whatever agency documents both fair and fraudulent business practises in a given country or region. Selling gold online is probably the simplest method and can be totally safe with just a bit of due diligence. Reputable dealers will welcome questions via email or phone and be happy to supply references.
Once a buyer is selected the process is quick and easy. Some local buyers require an appointment, some are available on a drop-in basis and some will meet sellers at their home, bank or other public place. They will all be prepared to assess and weigh the gold and make payment at once.
Selling every kind of gold, from jewelry to gold dust to gold bullion online takes a few days longer, but may be more convenient. Some online buyers have special offers and some provide shipping envelopes. Simply post, or mail the gold to the company’s address. Reputable gold buyers typically process packages and make payment the same day, if you have any scrap silver, check to verify they purchase silver as well, with the price of silver on the rise more and more companies are starting to add that to their list of items wanted.