With the price of gold reaching unprecedented heights in the last few years, people in dire need for money are considering gold as a popular option to meet their urgent monetary requirements. With increase in popularity of gold in the investment portfolio, a large number of people worldwide are willing to buy the precious metal. Although you might consider selling the gold jewelries, coins or bars to a local jeweler or an online gold trader, before parting with your prized belongings carefully consider the factors that ensure that you get the right price.
Verify the credentials of a buyer
Rogue buyers often try to dupe novice gold sellers by offering unusually high prices of the metal. They might run ads and set up temporary shops. Hence, before you sell gold always check the credential of the buyer. You can visit the local business bureau and check if there is any complaint against the gold dealer.
Check the gold price
Even when you sell gold to a legitimate gold dealer or jeweler, it is advisable to compare the prices offered by three or four stores. While soliciting a bid in a pawnshop or online, make sure that you know the correct base price of the yellow metal.
Check the scale
Although the Department of Weights and Measures in most areas periodically monitor the weighing scales, nonetheless, it is always advisable to observe the weighing scale closely when a jeweler or gold dealer weighs the gold.read more
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