The broken gold chain crowding space in your jewelry box, that one gold coin you have tucked away, and even that mismatched gold earring you have laying around all have one thing in common. These things are worth money and can likely fetch you some quick cash with a gold buyer. When you have gold that you know you can get cash for, you may be quick to go out and sell to whoever you can find, but the truth is, you are better off working with strictly professional buyers. Take a look at three big reasons it is never a good idea to sell to just a random gold buyer.
Gold may not get accurately weighed for you to get a fair price for your items.
If you go to a professional gold buyer, whether one solely in the gold buying business alone or one that works at a jewelry store or pawn shop, you can pretty much rest easy with the fact that their scales will be accurate. Most of these business owners have to answer to the Department of Weights and Measures periodically to ensure their scales used for gold buying purposes is accurate. The same cannot be said for the novice buyer who may pack a scale in their pocket.
Gold can be worth more according to what it is.
If you just pick a random buyer off the street and sell your gold pieces for cash, there is a pretty good chance they are not going to care whether you have a branded or antique piece that is worth much more money. When you are working with a legitimate gold buyer, they will know quite a bit about branded gold and vintage gold pieces that are worth more money. Not only will they tell you that your piece is valuable, but will likely offer you more money for any pieces that have special attributes.
Gold may get paid a certain price without regard to karat.
The karat rating of gold reflects the actual purity of the gold piece. The higher the number, the more actual gold content a piece has, which means jewelry pieces with a higher karat rating should fetch you more money than those with a lower rating. Unfortunately, some of the fly-by-night gold buyers out there will only offer you a certain price for your gold without separating the pieces by karat rating. This means you will not get anywhere near the correct value for what you have.