Cash for gold dealers provide a unique service that many people turn to, to earn money quickly. If you have gold jewelry that you want to sell, the good news is that there are probably many cash for gold locations in your neighborhood, making it easy to find a buyer. Now how much money you earn can depend on a variety of factors. Other precious metals such as silver and platinum can also lead to a good deal of money. Because of the way gold is valued, the condition of your items will not affect the price, so turning in broken jewelry is often the best option for it. Here are the things that will affect how much money you will get for your gold jewelry.
Price of Gold
Gold is a commodity that’s value is changing every day. Sometimes the price can find itself rising, which is the time when many people choose to sell their gold. Websites and other resources will allow you to find and track the price of gold, along with the other precious metals. Depending on how quickly you need to sell your gold jewelry, waiting for a time when the price rises would earn you more money.
Gold Buyer Payout
When looking for a gold buyer, you may see that some advertise the amount they pay per an ounce of gold. Obviously the gold buyer that offers the most money will be a good choice, but there are other things that may factor into your decision. As the price of gold changes, the gold dealers also change their average payouts.
Gold Jewelry Value
The last time to finding out how much money you will get for your gold jewelry is finding out the value of your gold. You know the market price, the next things you will need is the weight of your gold and the purity of your gold. With these things, you have to determine the exact amount of gold that your jewelry contains, and then refer to the market price.
Some people never end up selling their old and broken jewelry because they don’t think they will get any money for it. With the information above, you can estimate how much money you will earn before walking in the store. More knowledge on how gold is valued allows you to negotiate better during the deal.