Gold and silver are two of the world's most precious commodities. With an uncertain economy and more people looking to invest in precious metals, it's no wonder that gold and silver buyers are popping up all over the country. If you have old jewelry, coins, or other pieces of gold or silver you'd like to sell, there are some things you should know before you rake in the cash.
Understand How It's Weighed
Most buyers of precious metals will give you the "spot" value, meaning the current value that the market dictates it should be sold for. Some may offer a dollar or maybe even a few dollars over spot, but generally buyers are looking to turn your metals around for a profit. Jewelers measure gold in Troy ounces, while buyers of metal use just the exact number of grams that it weighs. Be sure you know what the current rate of both gold and silver is before you sell, and try to weight it yourself ahead of time so you will know what to expect when they offer you a price.
When Selling to Jewelers
Gold comes in various karat levels, all of which are worth different amounts. The karats of gold refers to its purity, meaning the higher the karat value, the more pure it is and it will be worth more money. If you decide to sell a few rings or necklaces to a jewelry store or walk-in buyer, be sure you separate them by the number of karats each piece has before you offer them for sale. Some jewelers may just lump all of your pieces together and weigh them, not taking their purity and karat value into account. This can also be said for silver, which also has different levels of purity.
Utilizing Mail-In Sales
Some gold and silver buyers offer you the ability to mail in your precious metals for cash. While this can sometimes be easier than having to deal with store personnel, they might not offer you the best price, so check around. If you choose to send off your gold or silver to a mail-in facility for money, make sure you know what their current rates are, and be sure to keep a record of the shipment as well as all receipts you get when they confirm they've gotten your items. Get tracking and make sure you insure your package, just in case it gets lost in transit. Be aware of their turnaround times so you know when you can expect payment.
To learn more about gold and silver buyers, contact a company like Gold for Cash.
Ever since I was a child, I've loved the look of fashion earrings. However, I soon discovered that my ears are sensitive to metal-coated earrings. Rather than spend a small fortune for custom made jewelry, I've found retailers that sell hypoallergenic earrings. These earrings are made for individuals such as myself with sensitivity to metals. Check your high-end department stores or local jeweler. You'll find hypoallergenic earrings in sterling silver, white gold, yellow gold, and platinum. The main thing is to never choose jewelry containing nickle, as this is commonly the culprit. A good alternative to metals listed above is titanium jewelry, as this is considered to be hypoallergenic. Also, avoid using harsh detergents or chemicals to clean your earrings and jewelry, as this may cause further irritation. Mild dish soap may work well, but be sure to rinse your jewelry thoroughly.