Selling gold and getting it converted into cash is quite common. There are many people who buy gold and when needed easily sell it to the jewelers to get money so that they can come out of the crisis. Usually, the hold purchased from the banks is of the highest purity like the coins, bars etc. But the banks do not offer the facility to sell the same and that is when the sellers have to head towards the local jewelers who deduct a lot of money in the name of melting charge etc. This means that on average the return value of the gold goes down to just 60-70% which is quite low. Selling gold on the part of the seller is always a disadvantage for them.
So now you might be thinking as to where to sell gold to get a good return of money. First, you sure you connect with reputed and trusted dealers only for selling the gold. There are a lot of brand names when it comes to gold so it will be a good idea for you to sell to them. It is because they charge you a genuine amount while the rest is given to you so you can look forward to the better return value of the gold. However mere connecting to a trusted dealer will not help you to get a decent amount of money, there is something more to it.
Here are some essential tips that you should follow to exchange your gold with the hard cash.
Best Time to Sell Gold
You need to consider the best time to sell the gold like you should sell when your economy is growing, and gold prices are rising, and you should purchase when the market is low.
Carry Your Bill
When you purchase the gold, you get a bill with it. Whenever you plan to sell the gold, make sure you carry the bill so that the jeweler or the buyer can check for the quality and even your rest assured that you will get a good value for it. Without the bill, the buyer can fool you and deduct more in the name of different charges. So, do keep the bills or the invoices safe as it can be needed when you sell the gold.
In order to get the best value for your gold, make sure you take quotations from different jeweler dealers as who is giving you the maximum value. This helps a lot as you get to know how much worth your gold is and where to sell gold to get the best value. If you sell your gold online then you should first take appropriate quotes from different buyers, so that you can get a good price of your gold.
Sell Gold from Where It Is Purchased
Though gold can be sold to any jeweler you like if you take it to the place from where you purchased it, you ought to get more value as compared to all the choices. It is because of the simple reason that such sops charge you less and therefore there are high chances that you can get up to 90% of the gold value sold to them. This is from the other options and that is why you should make an effort if possible to sell the gold from where you bought it.
Hallmark Vs. No Hallmark
Hallmark is a great way to check the purity of the gold. If your jeweler has the same the jeweler cannot fool you saying that it is of an inferior quality. But the same can happen if it without the hallmark. Also, the one with the hallmark is considered to be the best of the quality and can get you a decent amount of cash for the same. Don’t send your gold for cash to gold company as they degrade your gold if you really want to send then make a proper valuation of your gold.
If you follow the above-given tips, it is sure that you will be able to earn a good return value of the gold. Just get an idea of the value it is holding and accordingly take your decision as which buyer is able to provide you a handsome amount of money.