For centuries, gold has been a profound indicator of wealth. However, over the past few decades, it has become much easier for an average person to buy and sell gold. The potential for profit is solid enough, so the question is how do you sell it? If you are living in Atlanta, this question becomes more difficult to answer as the city boasts a wide assortment of gold buyers from pawnshops to jewelry stores.
Buying gold in Atlanta is easy enough, but when it comes to how to sell gold in Atlanta, the process is a little trickier. There are a number of factors to consider before parting with your gold. Sellers must verify the integrity of the gold buyer, the method by which the buyer appraises gold, and the ability to negotiate a fair price. One of the most common mistakes people make when selling gold in Atlanta is assuming that all gold buyers are created equal. Thankfully, this guide has been written to educate any would-be seller of gold in Fulton County.
How Is Gold Appraised?
The rules for appraising gold are essentially the same as the rules for appraising silver or platinum. Buyers are going to consider weight, and pay close attention to purity. The weight is directly connected to the value in the sense that the greater the weight, the more valuable it is going to be. Gold purity is expressed by its amount in karats. Pure gold must hit the 24-karat mark to qualify.
On the other hand, gold bars are measured via a millesimal fineness. The rating system for bars will range from zero to one. Naturally, higher numbers mean a greater degree of purity.
How To Negotiate With Atlanta Gold Buyers
Gold buyers have a significant degree of experience in evaluating gold, buying gold, and selling gold. A good buyer will also be up-to-date on the current market value of gold. It would certainly be a good idea on your part to be familiar with that market value, as well.
There are two different types of gold buyers. There are company buyers, who will represent a single entity business in Georgia. There are also buyers who are not associated with any corporations or umbrella companies. You should also remember that if other metals are mixed with your gold, this will bring down the purity. This, in turn, will bring down the value. Knowing the purity and current market value for that purity will give you more leeway to negotiate.
Also, if you are preparing to sell jewelry that contains gold, make sure the jewelry itself is not an antique. In certain cases, the resale value for antique jewelry can be higher than what you would get by melting it down for the gold.
Mistakes To Avoid When Selling Gold In Atlanta
Check with the Better Business Bureau, in terms of the validity of any gold sellers you consider. It can also be helpful to find out if the seller is aligned with any of the associations that exist within the industry of selling jewelry and precious metals. The International Precious Metals Institute is a good example of an organization that is dedicated to maintaining certain standards among gold buyers.
Here are a few more tips to help you avoid some of the more common mistakes people make when selling gold:
- Different companies/individuals will pay different amounts. Don’t be afraid to shop around.
- Should you decide to leave your gold with someone, make sure to get a receipt that details the item.
- Ask any potential buyer if they are going to sell your gold off-site. If they say yes, keep in mind that they are likely a middleman. They may hit you with a surcharge for their service, which can eat into your potential profits.
- Avoid mail-in companies like the plague. They are known to offer extremely low returns, and they are also known to charge premiums for their services. This isn’t true of all of them, but you should still exercise extreme caution with such opportunities.
- Of all the options available to you, gold refiners might just be your best bet. They will offer upwards of ninety-five percent standing gold price for the content within whatever you are trying to sell. On the other hand, most jewelry stores rarely rise above the eighty-five percent mark.
These are just a few things to keep in mind, as you consider your gold selling options.
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