What You Need to Know Before You Sell Your Gold Jewelry - Read This Article!
Don't get scammed! Read this informative article before you sell your gold jewelry.
Know the different ways gold buyers cheat the public.
Step 1.
Knowing what you have is important! Don't just lump everything together, that invites trouble.
Instead, take these few easy steps to sort your items.
1) Look at each piece for a karat mark.
Most items will be marked 14k.
or 18k.
14k.
is common in the US while 18k is the norm in Italy.
You may also see items marked 10k which is a lower quality, but gold nonetheless.
2) If you don't see 10k.
, 14k.
or 18k.
, your items may be marked with the decimal equivalent as follows:.
417 (10k.
).
585 (14k.
) or.
750 (18k.
) 3) Dental gold such as gold filling or crowns are traditionally 16k.
Step 2.
Sort you items by karat and keep them separate.
Failing to do so enables unscrupulous gold buyers to buy higher karat items for lower karat prices.
Most buyers will insist that they test every item.
If you item is marked 14k and the buyer tests it and says that it is only 10k.
, the warning bells should go off.
Take your items somewhere else! Step 3.
Before anything gets weighed, insist that the scale be tared with a standardized weight that is supplied with the scale by the manufacturer.
Look at the scale and make sure that it zeros out correctly.
It is too easy to rig a scale to show less weight than actually is there.
Some gold buyers will quote impossibly high, unbeatable prices but use a rigged scale and you ultimately end up with less money.
Step 4.
Scales weigh in various modes, the most common for gold scrap is grams and pennyweights.
Pennyweights are heavier than grams, each pennyweight = 1.
55 grams.
Make sure that if your items are weighed in pennyweights, you are paid the pennyweight rate and not the gram weight.
There are 20 pennyweights to one troy ounce.
Tips & Warnings Items marked RGP (rolled gold plated), HGE (heavy gold electroplated) or GF (gold filled), are not items that buyers will buy.
Experienced gold buyers can usually tell the karat of your items by color.
Look for buyers who have an established business and have been in business for a good period of time.
Understand that gold buyers have expenses are entitled to a fair profit; you will not get 100% of the value no matter who buys your items.
NEVER mail your gold to a company who heavily advertises.
Advertising is very expensive and you are the one who pays for it.
Beware of "1 Day Only" buying events at local hotels and motels hosted by non-locals.
Call the company you are interested in dealing with and ask about their experience and industry affiliations.
Reputable companies will be happy, even proud, to tell you about their work with industry-wide associations and government organizations.
Feel free to contact Omega Precious Metals with any questions you may have regarding selling scrap gold.
Associations and organizations are very mindful of whom they endorse.
Know the different ways gold buyers cheat the public.
Step 1.
Knowing what you have is important! Don't just lump everything together, that invites trouble.
Instead, take these few easy steps to sort your items.
1) Look at each piece for a karat mark.
Most items will be marked 14k.
or 18k.
14k.
is common in the US while 18k is the norm in Italy.
You may also see items marked 10k which is a lower quality, but gold nonetheless.
2) If you don't see 10k.
, 14k.
or 18k.
, your items may be marked with the decimal equivalent as follows:.
417 (10k.
).
585 (14k.
) or.
750 (18k.
) 3) Dental gold such as gold filling or crowns are traditionally 16k.
Step 2.
Sort you items by karat and keep them separate.
Failing to do so enables unscrupulous gold buyers to buy higher karat items for lower karat prices.
Most buyers will insist that they test every item.
If you item is marked 14k and the buyer tests it and says that it is only 10k.
, the warning bells should go off.
Take your items somewhere else! Step 3.
Before anything gets weighed, insist that the scale be tared with a standardized weight that is supplied with the scale by the manufacturer.
Look at the scale and make sure that it zeros out correctly.
It is too easy to rig a scale to show less weight than actually is there.
Some gold buyers will quote impossibly high, unbeatable prices but use a rigged scale and you ultimately end up with less money.
Step 4.
Scales weigh in various modes, the most common for gold scrap is grams and pennyweights.
Pennyweights are heavier than grams, each pennyweight = 1.
55 grams.
Make sure that if your items are weighed in pennyweights, you are paid the pennyweight rate and not the gram weight.
There are 20 pennyweights to one troy ounce.
Tips & Warnings Items marked RGP (rolled gold plated), HGE (heavy gold electroplated) or GF (gold filled), are not items that buyers will buy.
Experienced gold buyers can usually tell the karat of your items by color.
Look for buyers who have an established business and have been in business for a good period of time.
Understand that gold buyers have expenses are entitled to a fair profit; you will not get 100% of the value no matter who buys your items.
NEVER mail your gold to a company who heavily advertises.
Advertising is very expensive and you are the one who pays for it.
Beware of "1 Day Only" buying events at local hotels and motels hosted by non-locals.
Call the company you are interested in dealing with and ask about their experience and industry affiliations.
Reputable companies will be happy, even proud, to tell you about their work with industry-wide associations and government organizations.
Feel free to contact Omega Precious Metals with any questions you may have regarding selling scrap gold.
Associations and organizations are very mindful of whom they endorse.