Gold is lucrative and ever-growing in its price. Being a medium of exchange itself, ensuring you get the best rates for the dollar is crucial to making good fortunes. Besides getting the best rates, there are a number of tips you need to grasp as a seller. Pawnshops across New York City offer these services. Being keen to avoid being duped is important. To prevent such, below are cash for gold NYC tips.
Know Your Karats
Knowing the karat value in your gold is also important. A karat is the equivalent of 1/24 of pure gold in weight. Ornaments, being alloys of gold and other metals, have their karat numbers. Therefore, the more the gold karat in your necklace, the more the value.
Do You Melt or Just Sell It?
The fact that you are selling gold does not differentiate you from any other seller. However, knowing where the value is in your ornament is your bargaining chip. Take an instance, you have a bracelet or earrings made by a famous designer and you want to sell. For one, being a designer necklace alone should get you a good deal. You can establish this by checking the value of your ornament online. However, if you go on to melt it down then sell it, you may not make as much.
Know the Scaling
If you know the type of scaling used by the buyer, you will be better positioned to avoid being swindled. There are three widely-used scaling standards: the standard U.S scale, the Troy Ounce and the Pennyweight. The U.S standard goes for 28 grams per ounce, the Troy ounce 31.1 grams/ounce while 1.555 grams is used as the Pennyweight. Be watchful of dubious pawnshops that pay for your gold in grams after scaling using the Pennyweight.
To Whom You Are Selling to Matters
Your pawnshop of choice is important to the whole process. Better have your gold than sell it to a crook or swindler and get the worst of rates. Ensure you do a background research on your buyer. Are they registered with the state, how are their services, are they safe to work with? All of these matter.
The process of selling your gold should start from knowing your gold, establishing the value, shopping for a good pawnshop, doing a review and selling. Assuming you have done the above, selling should be easy. When selling, you need to separate your ornaments in terms of value. Pooling them together may get you low prices. Work on your negotiating skills. When pitching, match your prices with what you believe is the true value of your gold. Lastly, for cash for gold NYC trading, it is required to carry your identity card for security.