Four Steps To Take Before Selling Your Gold For Cash
If you want to have a little extra cash, gold can be a great way to get it. It is going up in price, so you will be able to get paid for any amount of gold that you have laying around. Before you go to sell your gold, there are some things you want to do, such as organizing it and removing non-gold materials. Here are some of the steps you will want to take before you take your gold in for extra cash:
1. Organizing Your Gold In Piles Of Karat Weight
Gold is measured by its purity in its karat weight. The purest materials will be 24 carat and the least pure will be 14 karats. Go through all your gold pieces and organize them in piles according to their karats. You will get the most for the 24 karat pile and the least for pieces of fewer karats. Most of the pieces that are not marked will probably need to go in the 14 karat pile. You can also make a pile of pieces you are not sure about, but are a little darker than 14 karat gold.
2. Testing The Materials For Plating And Other Metals
Once you have the materials in piles, you will want to test them for plating and other materials. If you scratch them and gold flakes off where you can see silver-colored metals, these are plated. You can also get a simple gold acid test to check if pieces are pure gold or other metals, which you will need to remove from your piles.
3. Removing All The Materials That Have No Gold On Them
Once you have all the gold organized and tested, you will be ready to remove any materials that do not contain gold. Remove things like stones and clamps that do not contain gold. If you want, you can save precious stones to sell to jewelers separately. Use needle-nosed pliers to dismantle the pieces until you have piles of only gold.
4. Keeping Up With Gold Prices And The Current Rates Offered By Dealers
Lastly, before you take your gold in, you will want to check gold prices. You will also want to find out what dealers in your area typically offer for 24 karat gold. You can expect to get a fraction of this price for your gold and less for the pieces that are less than 24 karats. You can take a small amount to various dealers to get an average rate on what they offer before you sell your gold.
These are the steps you will want to take before you take your gold in for cash. If you are ready to get a little extra cash for your gold, take it in to a jewelry pawn center, such as Executive Loan Service.