If you are planning on selling your scrap gold, you will have to go to various dealers and get a gold quote. There is no doubt about the fact that the demand for gold is on a continuous rise but many people wonder if that implies that they will get a higher value for scrap gold. There are several factors that determine the value of the quote you get on your gold from various dealers.
The foremost factor governing your gold quote is the quantity you possess. The more the quantity, the more the amount of money you will get. This is a very simple factor and can be compared to selling any other commodity.
You will obviously get more money from selling ten pieces than selling just one. In addition to the quantity, the quality is also a factor that plays a major role in getting a good gold quote.
The most commonly available qualities of gold are 10 karats, 14 karats 18 karats and 24 karats. As can be assessed from the numbers, the 24 karat gold is considered to be the purest form. If you possess gold with 24 karats, you are most likely to generate the highest funds when you sell it to any dealer. The other qualities also bring about a lot of cash though.
The weight of the gold also plays a vital role in determining its scrap value. Heavy items tend to generate more cash than lighter items. For example, coins and some types of jewelry such as bracelets and necklaces weigh more and selling these means more cash for you. This is one of the perspectives you can take when determining the value of your scrap gold. The condition of your gold is important in accordance with the purpose the dealer wishes to use it for.
For instance, if the dealer wants to resell the gold further, he would definitely look for gold in better condition. However, there are ways in which the condition of the gold can be ignored, such as melting it and then remolding it into another form of jewelry.
All these factors are equally important when you are considering selling any gold you possess. Some may be more significant according to the context, and you need to know this in detail before going to get a gold quote from the many dealers in the market.
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