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Tips To Sell Unwanted Gold in Chicago

Posted on April 25th, 2017 by JoeG

Do you have old unwanted gold sitting in your closet and collecting dust? In today’s economy, you may have the chance to make a small fortune from your unwanted pieces. So how do you get cash for your gold? As your local gold buyer, we have created a list of tips to sell unwanted gold in Chicago. These tips have been helping our customers get paid top dollar for their unwanted gold since 1980!  

 

1. Understand The Scales: Many times the weight of your gold determines it’s intrinsic value, but also keep in mind that precious metals are weighed in a different measurement standard called a troy ounce which is 31.103 grams to the troy ounce instead of 28 grams as in a standard avoirdupois ounce. Most scales like postal scales and scales used for cooking measurement and other industrial uses will measure 28 grams per ounce, while gold is also measured at 31.103 grams per Troy ounce.

 

2.Know The Karats: When you go to sell unwanted gold in Chicago we as Chicago gold buyers will separate the various karat gold you have into individual groups for appraisal evaluation. 24 k .999 pure gold is softer and is more commonly used in jewelry made in Asia, as the karats get less fine in purity they become mixed with other alloys often combined with other metals to create durability and color. The FTC requires that all jewelry sold in the U.S. to describe the karat fineness of the alloy.

 

3. Know What You Are Selling: Some gold items may be worth more when sold as a piece of jewelry, rather than if melted down for scrap old gold value. If you have a gold necklace, ring, bracelet, etc. from a well-known designer or maker, we as Chicago gold buyers at Chicago Gold Gallery know the secondary market resale values  beyond the intrinsic gold value. In contrast, the gold within that designer piece may actually be worth less than what the designer charged for it due to the retail markup and the prestige of owning an item from that particular designer or company.

 

4. Know Your Buyer: When you sell old gold in Chicago it is important that you sell to experienced dealers with longevity in the business that can determine which pieces are worth more to insure that you get the maximum value for your items.  You don’t want to sell to a buyer that is new to the business. Selling to Chicago Gold Gallery you will be selling gold in Chicago to a gold buyer with 37 years in the business. Work with a gold buyer that is knowledgeable about the industry, helpful, and passionate about gold & precious metals.  

 

Ready to sell unwanted gold in Chicago? Contact us at Chicago Gold Gallery today!

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