exchange gold for cash… Certainly this may be a nightmare if you are uninformed about the Do’s and Don’ts of the trade. The huge fluctuations in the world economy are supporting the fact also as gold has emerged as the safest alternate to invest money on the planet. So here is a list of few Do’s and Don’ts you should consider before finalizing the exchange gold for cash.
List everything what you have
Honestly gold is a spellbinding magical word that speaks on certain conditions. Meanwhile everything you want to sell is not gold therefore it would be better to group all of your gold particulars at a place according to their purity in terms of gold karat weight.
The purest form of gold is 24K and it fetches the highest money for the gold whereas 10K, 15K do not belong to pure gold’s category resulting in gaining less money. Just note down all the items.
Visit Jewellery Stores
It’s common to visit your local jewellery store to exchange precious metals and gemstones for the cash despite we have other choices too. It’s safe, secure and reliable as it takes minimum time to sell your gold with reliability. But you should discuss with two or more local jewellery stores to get the best deal in exchange of gold for cash. In addition, you can exchange jewellery also instead getting cash for the same which might be a good idea for girls want to add new jewellery in their wardrobe.
Pawn Shop Options
Pawn shops are second alternate you can use. There you can use gold as collateral to take cash loan. If the loan is not paid, the shop/ financial institute will own the jewellery to recover its money selling the jewellery in the market. Subsequently, if you don’t want the gold jewellery back, you can trade your gold in lieu of cash too. In both options, jewellery is evaluated according the current market rate and is treated as per the terms & conditions of the shop/ gold loan providers.
Online gold buyers
Jewellery store and pawn shop require your valuable time consumed in traffic and discussion at various places online gold exchange portals offer you the effortless facility to exchange your gold for cash. This not only saves your time but provides you more opportunities for selling your gold at reasonable prices which you might not get at pawn shops and jewellery stores. Though online gold selling has its own pros and cons of the trade which you can simply utilize doing some research on Google. Select online gold buyer that has a great rating with the Better Business Bureau and has minimum unresolved grievances. Also visit the discussion forums to know a buyer’s credibility and reliability among users.