Are you looking to sell gold that you have stored, whether it’s rings, bracelets or chains? Today there are many companies that are engaged in buying second hand gold, also known as scrap gold and it’s used for recycling. Due to the high price of gold, this has become a big business due to the high demand that exists for the metal. If you are looking to sell gold in Chicago area, continue reading or contact your local pawnbroker.
Some of these companies are engaged in the purchase of gold. Some jewelry will be resold, but most of it will be turned into scrap gold. However, there are companies that only seek quick profits and could care little about customer service. Therefore, you should never hesitate to “google” the name of the company you are going to go to and see how long it has been offering its services. If there have been reliable accounts or have been positive media coverage about the shop, this is a huge plus.
The difference in karats
Gold prices in the international market are constantly fluctuating but they are rarely seen going down. Most of the jewelry you see have a purity of 22, 18, 14 or 10 karat. The purest gold is too soft for use in jewelry, so an alloy is mixed with the gold to give it more stability and consistency. This means that if what you want to sell, for instance, is a piece of gold and it weighs 10 grams with a purity of 18 karats, it contains 75% gold (7.5g). If the piece is 14 karat gold, it would be 58% and 10 karat would be 42% gold.
Never hesitate to ask for the buying price with various companies so you can compare. Offers to Sell Gold in Chicago are plentiful, but you will find that some will not pay top dollar for gold. Selling gold through the mail is recommended for small amounts or if you do not live near a reputable dealer.
If the sale is to be made through an online company, do not hesitate to call the company and speak personally with someone from the company asking the same questions you would if you were physically in a store. If you are required to send your gold to an appraisal, be sure to get a detailed receipt. Always perform a complete inventory with pictures of what you have sent.