If you have broken or unused gold jewelry lying around your house, a company like the Sam Light Loan Company that buys gold can help you turn your jewelry into quick cash. There are a number of gold buying businesses located in strip malls, shopping centers, and even your area shopping mall that it seems like selling your gold pieces shouldn’t be that difficult. Although there are a number of companies that pay cash for gold, there are still a few things that first-time sellers should be aware of.
Shop Around
Most people believe that the price of gold is set, so there is no point in shopping around. The truth is that the price of gold isn’t the only thing that determines how much you will get for your gold pieces. Each shop has different needs and wants. Some shops are actively looking for certain types of gold (24k vs. 10k) and will pay more to fulfill this need. Other shops have greater budgets, allowing them the opportunity to offer you more cash for your gold. Even the city that a shop is located in can play a large role in how much money you are offered. If you are looking for a way to get the most money that you can from your gold jewelry, don’t be afraid to visit several shops before selling your gold.
Written Offers
If you decide to shop around, make sure that you get all offers in writing. Gold buyers are not obligated to honor an oral quote. Having the quote in writing will ensure that when you return you will not have to haggle with the shopkeeper over the price. However, it is important that the written offer contain language that specifies how long the offer is good for. In most cases, a gold buyer can rescind the offer after 24 hours if you do not return right away to sell your gold.
Value
It is a good idea to have a general idea of how much the gold pieces you are selling are worth. In some cases, it may be better to try to sell your pieces to a collector instead of a gold buying shop. When you sell to a place that buys gold, you will never get the full value of your pieces in cash. This is because the shop owner needs to make a profit, too. If you have jewelry that is quite valuable or period jewelry that can fetch a higher sum by offering it to collectors, you might want to consider forgoing the quick cash and holding out for a better offer.
Don’t worry about your pieces being broken. If you are selling them as scrap for extra cash, a company like the Sam Light Loan Company, buys gold jewelry that is in all types of conditions.