Top Ten Things to Consider When Selling Your Gold and Precious Metals

tipsgforgold

As one of Houston’s Top Gold Buyers, we want our consumers to be well informed to make the best financial decisions when selling their gold. Your prized possessions that are now outdated, broken, or are unable to be passed down to younger generations can generate extra money in your pocket. Whether you are selling Gold, Platinum, Sterling Silver or your loose diamonds, Houston Jewelry is the perfect place to go.

Here are a few tips to consider before selling your Gold or Precious Metals:

1. Prices are calculated based on current market value. This value can fluctuate daily, as well as hourly. When selling your items it is advised to check the current market prices before you come in to sell your items.

2. The metal content and weight of your items are considered in the price. It is imperative that when selling your items you go to a location that has the proper equipment to evaluate both of these factors.

3. If your items include diamonds or precious stones, there is a chance your items will be more valuable, this also applies to pieces that may be considered categorically vintage, designer, or collectable.

4. It is important to find a buyer who can test your metal. At Houston Jewelry, we use an instrument called a Spectrometer. This instrument can tell us the exact metal content and karat of your pieces.

5. It is important to go to a buyer who follows the guidelines and laws of their respective city, state, and all Federal regulations.

6. Take into consideration that most establishments will purchase your items with the intent of melting it down. If your item is sentimental you should reconsider selling it as once it is melted you will not be able to get it back.

7. Although your item may seem worth an enormous amount to you, it is essential that as the consumer you understand you will not be offered retail value in most scenarios.

8. We encourage consumers to visit more than one gold buyer when considering selling their metals. This will ensure that you are getting the best price for your items.

9. When selling your items you may want to inquire ahead of time the method of payment you will receive for your metals. Some people pay cash, while others strictly issue checks.

10. The law requires that you will need identification to sell you items, and it is advised that if you have paperwork, certificates, or receipts for your items you should bring them to the transaction as this information may increase the final price.

 

 

4 thoughts on “Top Ten Things to Consider When Selling Your Gold and Precious Metals

  1. I would add to your list that it is important to check with more than one vendor where possible. You should also do your research and know about what your jewelry is worth before going in to sell it. This way you will be able to have a good idea of what your jewelry is worth and be able to negotiate a better price.

    1. That assumes that the store the seller is at has not made the best offer. However the only way you know that, is to get offers from at least three well established, long standing, well respected dealers. Frequently we have some one bring in so items but they are skeptical of the offer, so we encourage them to go try our competitors in the general trade area. Invariably they come back thrilled at our offer which is often many times more than the offers they are getting elsewhere. There is a reason we have won the Better Business Bureau’s Award For Excellence so many times in a row.

  2. You have some nice tips for selling gold. We want to sell some of our jewelry so we can make some extra money. I didn’t know that we should find a buyer who can test our metal, but that makes sense. I’ll be sure to look for that.

    1. It must be hard being in the pawn business and not testing the gold. We assume you are affiliated with pawnamerica.com based on your profile.

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