Seven Tips for Selling Gold

There are many people who would like to buy gold in Vienna, VA, and would pay you a good price for your scrap jewelry. However, before you rush off to sell your gold, there are seven things you should know according to an online article by ABC on August 16, 2011.

Shop Around

Don’t be in a hurry to sell your gold to the first place that gives you an offer. Take it to a local pawn shop or jeweler and ask what the gold would be worth. Once you have a base price, you can check online locations and other places.

Be Careful of Temporary Buyers

Sometimes buyers will come into town for a few days and set up shop in a hotel. They offer to buy gold and give you cash right then. Many times, however, the price they offer is way under value.

Avoid Gold-Selling Parties

Some buyers have established a Tupperware-type party where interested friends can come together and sell their gold at a convenient location, such as a friend’s home. Unfortunately, these types of parties usually don’t give you the best price for the gold.

Watch the Scales

There are a couple of things to be aware of when measuring gold. Gold is not weighed using a regular ounce but a Troy ounce, which is a weight of 31.1 grams. In addition, some buyers measure gold using a pennyweight. Whatever measurement system is being used, make sure you understand it and that you double check the figures.

Read the Fine Print

Offers to buy gold include details in the fine print that could affect the price of the gold. For instance, if you are selling to an online site, the stipulations for shipping or if you decline an offer and want the gold returned to you could be very costly.

Check the Gold’s Present Value

Some gold pieces are worth more in their present state than they are as scrap. Get a jeweler to evaluate your piece and make sure you are selling a valuable antique that could bring you more money in its intact state.

Check Credentials

Whether you are working with a local company to buy gold in Vienna, VA, or using an online site, make sure to check the credentials of the company. Ask to see their license, and make sure they check your identification, too.

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