More and more people are drowning in debt these days but they hold on to pieces of jewelry that are doing nothing sitting in their drawers but the good thing about these is that they have probably increased in value as they sat there waiting. The question is how can you use these trinkets to pay off what you owe? For those with dust collectors, they can have these appraised at a Birmingham gold and get paid right then and there if the price interests them.
Stop, this is not what the Birmingham gold party is all about as there is more for you to take note of. It is important for sellers to be careful when it comes to every good deal for the buyers. People who sell gold Birmingham should do their homework before going to gold parties or any local jewelry store.
The Better Business Bureau (BBB) suggests to gold sellers that although gold parties may be a convenient way to have some cash, they may not give you the best deal. If you will be selling some of your gold, read on to find out how you can make the most profit on the sale. With gold, individuals should see to it that they understand the scales.
Basically, the values of gold pieces are determined by their weight but the professional jewelers rely on something referred to as the Troy ounce. In US scales, gold will measure 28 grams/ounce, but it measures at 31.1 grams per Troy ounce. The thing about the Troy scale is that it can also use pennyweight (dwt) to measure ounces of gold instead of using grams.
1.555 grams is how much the typical pennyweight weighs. One of the oldest tricks in the book is to pay sellers per gram of gold without using the pennyweight leading to a lower price for the gold. Another thing that you have to be mindful of when it comes to gold is the karat value.
Without a combination of other metals to help it out, pure gold will be too soft to use. The Federal Trade Commission requires every jewelry seller in the US to describe the karat fineness and in this case, it is illegal to sell jewelry and label it as 'gold jewelry' if it's less than 10 karats. Always determine the karats of your gold to make the best decision regarding the scrap value of the jewelry.
Do not mix gold pieces with different karat values when you weigh them. Another trick that dealers use is combining pieces of gold with different karat values, weighing them at one time, and making payments based on the lowest karat value. Determine the karat values for your gold jewelry before you bring them to a gold party.
Next, know your buyer and what you are selling. You may visit the BBB website to identify legitimate businesses that buy gold Birmingham. Furthermore, some gold jewelry may be worth much more when sold as is than if melted down, so if your jewelry was bought from a popular maker or designer, it may be more valuable for some buyers more than the gold itself.
See to it that you get a couple of good offers for your gold before you decide on selling any amount. This is to ensure you are getting the best deal for your gold. While this could cost you more up front, your jewelry may possibly be worth more than the weight if you consider the artistic value, workmanship and embedded gems as a whole.
If a person will be buying Birmingham gold, it is important that he or she provides the necessary identification. What you have here is something that can help police identify any signs of fraud therefore protecting the consumers who honestly want to trade gold. All legit jewelry buyers follow these rules, so if you are not asked to show a valid ID, be warned.
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