Cash for Gold: How to Make the Most Out of your gold Items

Cash for Gold: How to Make the Most Out of your gold Items

Buying any golden item can be considered an investment. Aside from wearing or using them, these can also be converted into cash very quickly. Of course, if you decide to sell your article, you want to make the most out of it. Here are some tips that can help you get the best price:

Dig Around for More Cash for Gold

Gold is one of the most precious metals, making them valuable especially when it has historical and cultural significance. Take the 1915 Panama Pacific Octagonal Gold Coin for example. It was minted by the United States Mint to commemorate the Panama Canal inauguration. With its historical significance, Pawn Stars host Rick Harrison was able to get it for $67,500.

Because of this, you must do your homework before selling your golden article. Research the history of the item. Was it owned by a celebrity or famous personality at one point? Why was it created? Was it made by a renowned jeweller? Knowing these details and acquiring proof give you leverage for negotiating the best price for the piece.

Learn How to Determine Purity

Whether you just have gold articles lying around your home or you have a penchant for buying and selling gold, knowing how to determine purity is a valuable skill. Karatage helps you ascertain the percentage of gold is mixed with other metal alloys. A 24K item is composed of 99.9% pure, making it purer than a 22K one which has 91.7%, whilst 18K (75%) and 14K (58.3%) ones are far less pure.

If you buy brand-new jewellery, you are usually informed by the jeweller about the karatage. However, if you merely found it or you get your pieces from other sources, you might want to get an assay test kit. This way, you can verify the purity of your articles by rubbing it on a testing stone and exposing it to acids with different strength levels. However this can taint the gold leaving a burnt mark. Other methods include magnetism and malleability tests as gold is not magnetic and is highly mouldable.

Don’t Mix Karats

Once you determine the significance and purity of your golden item, you might be ready to sell or pawn them. However, do not make the mistake of mixing gold of different karatage when weighing. Remember, the value will be determined by weight and not every buyer or pawn shop you will come across will be honest. It is better to separate 24k golden articles from 22k, 18k, and 14k ones. This makes the transaction more efficient and scam-free.

Know the weight

You should know the accurate weight of your items. Gold is weighed in troy ounces, which is equivalent to 31.1 grams. Make sure you have a reliable weighing scale when doing your own measurements. However, all scales used by pawnbrokers in New Zealand are calibrated and issued a certificate of accuracy, you can request to see the certificate if you’re unsure, if a pawnbroker refuses, then go to another pawnbroker

Other Items You Can Exchange Cash for Gold:

  • Luxury timepieces
  • First-class gadgets
  • Diamond articles
  • Vintage and luxury cars
  • Fine art and antiques

Transacting with buyers or pawn shops might be a challenging but even a little diligence can make the difference in price. By following these tips, you are sure to get the best value for your valuable items.

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