Gold is a commodity that is always going to be worth something. While the value may fluctuate, there will never be a time when gold is worthless. That being said, it is easy for the average consumer to be swindled by unscrupulous dealers. This is why they need to educate themselves before they shop for gold. Luckily, there are some very honest and reputable Gold Dealers in Lincoln Park. Here are some tips on exactly how to sell gold to them.
Know The Weight
Most people refer to gold regarding ounces. However, this is a little misleading. Gold is weighed by shops using a unit called a Troy ounce. If a prospective seller weighs their gold at home and it weighs 28 grams, it will be weighed in ounces at the shop, where it will weigh 31.1 grams per Troy ounce. Some shops measure another way, in a unit called pennyweight. Make sure to know how the gold is being weighed, as some unscrupulous dealers will weigh at pennyweight but pay by the gram. This means the person would be getting less money than they truly should for the gold being sold.
Understand What Karats Are
Karats are a description of how pure the gold truly is. One karat is the equivalent of 1/24th of pure gold. Since pure gold is far too soft and malleable to be of any practical use, it is mixed with other metals to make it more durable. For example, if a piece of jewelry were labeled as 14 Karat gold, it would be 14 parts gold and 10 parts some other form of metal. By law, no jewelry measuring less than 10 karats can be called gold jewelry. The money offered to buy the jewelry will be based on the scrap value of the gold so it is crucial to know exactly how many karats the gold is before bringing it to Gold Dealers in Lincoln Park.
Contact us with any questions about selling gold jewelry or to determine if there is interest in purchasing it. A friendly member of the staff will be in touch as soon as possible.