People often look for the maximum scrap gold prices in order to generate the maximum profits for themselves. However, there are certain steps you should undertake prior to selling your jewelry. The most important factor to consider in this regard is the current market prices. This way, you will be able to gauge the value of the gold you possess more accurately.
You can even calculate the exact value of the gold you possess, if you have certain bits of knowledge such as the weight of the gold, the percentage of scrap in it and the current market price. The value of gold coins is the easiest to figure out as they contain 99 percent of pure gold. You need to know the figure in karats of your gold and then convert its weight into grams. The percentage of gold in the scrap can simply be multiplied with the market price.
Only after you have determined the market scrap gold prices of your gold will you be able to figure out who the best dealer is to sell it to. You need to take into account the fact that you will not be offered the exact current market price on your gold, as all dealers will deduct some value based on the investment and the time since you bought it.
You will probably be paid a certain percentage of the scrap value of your gold. Just ensure that you clean the gold thoroughly and remove any dust and gems on it before taking it to any dealer. If you leave dust on it, this is sure to result in some reduction of value. The dealer will not undertake the responsibility if cleaning it before quoting the price. The gold can be sold separately if you feel that the gems embedded in it are valuable.
The next step is to look for reputable buyers to gauge scrap gold prices. They will typically pay you an 80 percent of the market price of your gold. In order to evaluate the credibility of the company, you need to ensure that they send you an insured envelope and a company form. Try to look for the best buyer for your jewelry and one that is trustworthy. Since gold prices vary every day, you need to stay updated with the scrap gold prices on a daily basis to make a well-informed decision.