Three Things You May Not Know About Selling Gold To A Gold Buyer

13 May 2016
 Categories: Finance & Money, Blog

If you have recently inherited a lot of gold jewelry that you will never use, you may want to consider selling it to a gold buyer. Many people do not know the first thing about selling gold to a gold buyer and assume that it is overly difficult to do. That is not the case at all though. The guide below walks you through a few things you may not know about selling gold to a gold buyer.

The Gold Does Not Have to be Clean

Do not waste your time trying to clean the pieces of gold before you take it to the dealer. The gold dealer will not increase the price that they give you for the gold because it is clean rather than dirty. If the gold buyer wants to sell the jewelry for someone to purchase and wear, they will clean it professionally before they sell it.

The Gold Does Not Have To Be Repaired

If you have pieces of jewelry that have broken clasps, damaged links, or are have pieces that have been lost, do not spend money to repair or replace lost or damaged pieces of the jewelry. You can sell the gold pieces to the gold dealer, regardless of what condition the pieces are in. The dealer can melt the gold down so that it can be used to make new pieces of jewelry. The buyer will give you a certain amount based on the weight of the gold, rather than the condition of it.

Anything that Is Made of Gold Can Be Sold

Many people think that gold buyers will only buy jewelry from someone, but that is not the case at all. There are many things that have been made from gold over the years and many gold buyers will buy any item that is made of gold because it can be used to make something else. If you are not sure if something is made of gold, you can take it to a gold buyer and they will be able to let you know. They have testing kits that will test the material to see if it is gold and then they will be able to also determine what karat of gold it is.

When you sell your items to the gold buyer, the items become their possession and they can do whatever they want with it. You will not be able to get the items back once they have been sold so take the time to be sure you really want to sell them before you take them to the gold buyer.

For more information, contact a company like Rocky Mountain Gold & Silver Exchange.