All About Birmingham Gold
More and more people are drowning in debt these days but they hold on to pieces of jewelry that are doing nothing sitting in their drawers but the good thing about these is that they have probably increased in value as they sat there waiting. In this case, how do you cash in? The hottest trend on the block is by going to a birmingham gold party, where you can have your old jewelry appraised and get paid on the spot.
But wait, there’s more. For every good deal that comes to buyers, sellers must be careful. Aside from gold parties, you can sell gold at any jewelry store but you have to do your research before pursuing such an endeavor.
The thing about gold parties is that they do not offer the best tradeoffs for gold sellers as mentioned by the Better Business Bureau (BBB). In order to find the best deals for your gold, see to it that you read the guide below and take it to heart. First, understand the scales.
For jewelers, they rely on the Troy ounce when it comes to the valuation of gold even if everybody knows that gold's value depends on how much it weighs. In US scales, gold will measure 28 grams/ounce, but it measures at 31.1 grams per Troy ounce. Some dealers may use another standard called pennyweight (dwt) when measuring a Troy ounce while others use grams.
For a pennyweight, you are dealing with 1.555 grams. Be careful: a tricky way for a dealer to pay you less is if he does not weigh your gold by pennyweight yet pays you by gram. For gold sellers, it is important that they know what the karat value is at all times.
Gold is a really soft element and this is why it has to be combined with other metals to have form. When it comes to gold jewelry, they should go beyond 10 karats or else it will not be legal for them to be sold and the Federal Trade Commission demands that the karat fineness be provided by jewelry stores for all of the items that they have for sale. To make the best decision when it comes to gold, always consider the karat value.
Before weighing gold jewelry, see to it that you do not weigh pieces together if they have varying karat values. A sneaky way that dealers use is to weigh all jewelry together then pay you based on the lowest karat value. Sort your Birmingham gold by karat value before going to a gold party.
Next, know your buyer and what you are selling. The BBB has a list of businesses that buy gold and these are all legit. Furthermore, some gold jewelry may be worth much more when sold as is than if melted down, so if your jewelry was bought from a popular maker or designer, it may be more valuable for some buyers more than the gold itself.
The thing about gold is that the seller needs to look at a number of bids before any sale or offer is made. By taking this into consideration, you are ensuring that the best bid can be taken advantage of. Even if there are extra expenses that you will encounter when you get your jewelry appraised more than once, this is something that ensures that you end up getting the highest possible value for what you own.
The last thing that you have to know when it comes to the buying and selling of Birmingham gold is that valid identification must be presented by the buyer. In the gold trade, money laundering is rampant and so is fraud and this is why identification cards are required for all product buyers. If there is a seller that does not ask you to show your ID, be careful since legitimate gold businesses always follow this requirement.