If you want to sell gold in the form of your gold jewelry that you do not wear or if you have inherited some that you do not need, there are a few things that you must know for your own safety reasons. You must know what the common gold items that you can sell are and how to sell so that you are free from any legal issues and from being ripped off. Remember, there are usually three primary reasons for people selling off gold namely death, debt and divorce. Sad it may be for you as a seller it is good news for the buyer.
Avoid Gold Parties
Buying and selling off gold is a win-win situation for both. The seller needs to sell it and the jewelry buyers NYC need to buy it at a price much lower than the market value. This is where the safety aspects come in. You can sell your gold in a pawn shop, at a gold party or to a broker but you must know the consequences and advantages of each. Sometimes gold buyers organize a party where they invite their acquaintances to bring in gold for evaluation or for a sale. Free gifts, light refreshments and others should not influence your decision as prices offered here are much less than any pawn shop or a “cash-for-gold” store.
Types Of Items Purchased
There are different types of gold items purchased by the jewelry buyers, right from gold coins to gold lockets. Here are a few common items:
- Gold lockets and necklaces are the most common of all items. This is because these are quite a few in numbers with the seller and also have much gold in it.
- Gold teeth are also bought no matter how unexpected and surprising it may seem to you. However, the buyer will knock the tooth off before weighing it.
- Gold pocket watch is also bought by the gold buyers. They are a better source to get a good value for your watch than the scrap value you will get if you put it in auction.
ID Proof Required
Just like you will need to know about the license and registration of the gold buyer, you may also be asked for a valid ID proof when you want to sell gold. Such document verification is necessary to prevent stolen goods from being bought or sold. It is also required by the buyer to keep a note of the transaction to report to the official body if the value of purchase or sales exceeds the permissible buying limits as per law.
Safety Tips For Sellers to Sell Gold
- Carrying gold can be risky as chances are high to get robbed on the way, at the parking lot or even in a public area.
- Never let any stranger know that you wish to sell gold and carrying some to avoid being burgled.
- If you are called at a gold valuation party be very particular and attend such parties if you personally know the organizer.
To be safe and wise is much more essential than being lucky.
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