So, you are looking to generate some quick money by cashing in some scrap gold you have lying around. However, you want to make sure you achieve the top price when getting cash for your gold and you don’t end up short-changed. Well, you can take a few crucial steps to ensure you get the best price when selling gold, and we have listed them below. Remember that this isn’t a step-by-step guide; this is more about knowing what to do beforehand.
As with many things in life, fail to prepare and you can prepare to fail. You need to research the market, the current gold spot price, and how different buyers can value scrap gold. It’s also key to note that there are many different types of gold buyers out there, such as high street gold buyers with storefronts and online gold buyers with less overhead than these traditional outlets.
High street gold buyers could be a mix of pawnbrokers, jewellery stores, specialized precious metal buyers and other collectables stores. High street locations may tend to have higher overheads, so may offer you a lower price for your gold. However, you can benefit from the convenience of visiting the store in person and getting paid immediately. At Cheshire Gold Xchange, we offer both high street and online gold selling service bringing higher online prices to the high street.
This means you should know the weight and the purity of the gold itself. If you do not have access to this information, at Cheshire Gold Xchange we can weigh and analyse your gold for you. Scrap gold buyers will provide quotes that revolve around your scrap’s actual gold content. Your gold can be measured in grams, and the purity will be determined and measured in carats. With 24-carat gold having the highest gold content, and 9-carat gold usually being the lowest gold content used in jewellery.
Don’t worry about working with online gold buyers as they will dispatch an online gold selling pack to your address free of charge. This will allow you to securely send the gold scrap to the buyer via the post so they can offer you an estimate based on the items sent. If you are not sure on the weight and purity of your gold the gold can be tested and weighed by the gold buyer when received, a valuation/cash offer will then be provided.
Anytime you’re selling a high-value item, you want to ensure to get quotes and offers from multiple qualified buyers. This will make sure that you can have confidence when selling your gold you have achieved the highest price from the best gold buyer.
Always make sure, especially with retail buyers of gold, to get all the pricing, costs, and fees upfront if there are any. You’re looking for the final offering with the breakdown of said fees. Even with online buyers, who tend to give better offers, you should check their fine print to ensure there are no surprises with the amount of money you end up receiving. There can be instances where online cash for gold businesses will charge you a fee for returning your gold to you have you reject their valuation.
Even if you need funds in an emergency, the gold selling process doesn’t have to take long. You don’t want to enter the first shop, which is ready to buy your gold, and simply accept their offer.
Multiple offers will give you a range of the value it is. This will help you with weighing up whether to walk away from an offer or not. Be strong in your negotiating, and if you choose to go with a local gold buyer, you need to negotiate as high as you think is reasonably possible. The amount you’re selling also plays a role in what you’re able to get. You may achieve a higher price per gram if you are selling a larger weight of gold.
Specifically, look at the reputation of the one buying your gold. This should happen more often when you’re looking to sell your gold online as you will be posting the gold off to them without receiving payment. Look at the online reviews and research the business to ensure they are a legitimate gold buyer. Remember that you’re giving a precious commodity directly to a business online. While many are legitimate, there’s no reason not to take the proper precautions to be safe and not sorry. At Cheshire Gold Xchange we are proud to boast our 5-star Google rating, as well as a secret high street secret shopper winner.
Sometimes, it may not be the most opportune time to sell your gold scrap. Market prices can fluctuate and the pricing may not be in your favour on the day. Of course, with proper research, you’ll be able to see the current pricing of gold and make an informed decision when may be the right time.
You also don’t need to feel pressured to sell your gold. If a buyer ever makes you feel that way you may want to simply find someone else. It could be a red flag that this buyer is not as open or transparent as they should be.
Regardless of when you decide to sell your gold online or on the high street, know that we’re here to help. Feel free to reach out to us with any questions about the process of selling in-store or online. We’ll make sure to handle your scrap gold with care and work quickly to verify the overall weight, purity, and value. We then come back with the fairest offer we can provide. We know you won’t be disappointed.
Receive your prepaid, insured envelope to send your gold to us. Find out more visit Sell Gold Online
