Posts Tagged ‘buying gold’

Points Gold Buyers look at First

Sunday, April 1st, 2012

When you have your gold coins or other items assessed for their value there are a few points which play the most important role in the process. Anyone buying or selling these should be aware of the current price of gold on the market at that particular time. As you know, the prices will fluctuate constantly so by simply double checking this you will certainly be in a good position to deal with the buyer simply by knowing this one piece of information.

Additionally, anyone who does buy gold on a frequent basis, whether they are professionals or not, will also take a close look at the purity of the gold you bring to them. They will need to inspect its condition whether it is coins, jewelry or any other items, and determine what karat these may be. As we always say, if you are selling gold coins then be sure you research any numismatic values as well. This might take a little more time and effort to do, but these values can actually far exceed the market value based upon purity and/or weight.

This brings us to the third point which a buyer will look closely at and it what the weight of the gold is cumulatively. This along with the other two points mentioned above will bring them to a conclusion as to what they will offer you. Be prepared to take only a percentage of what the gold is finally valued at though. If you are dealing with a professional then they should make you a fair, logical offer for the gold. However keep in mind that they will also need to have a margin in order to make a profit on the transaction themselves when they turn around and sell the gold to someone else.

To Summarize:

  • Current Market Gold Price
  • Purity of the Gold
  • Weight of the Gold

The real benefit of using professionals is that you get a fair price for your gold items based on what should be an honest evaluation of what it is actually worth. This can save you a huge amount of time compared to trying to sell the items at nearer to retail value which can be tough even today when gold is so in demand.