"Cash For Gold!" Cool Checks On The True Account
Anxious to exchange your gold for cash? If you've read and seen the talk up by TV pitchmen and perhaps you might think that the only one being taken to the cleaners is you if you fall for it. The real story is that independent buyers who sell directly to a refinery can reimburse you the most - up to a cool 70 percent of the melt (spot) price of gold.
Don't fall for the hothead, do cool checks for prices from gold dealers show a range from 10% to 70% of the melt price. Most gold dealers will pay you only 50% of the melt price, pawn shops pay in the 40% to 50% range.
The TV rabble-rousers and heavily advertised sites give you the least for your gold. Surveys find that they offer 10% to 33% of the melt price for your gold.
Foremost, you need to beware of the quantity of gold you have by weight so you don't get scammed. Pure gold is 24 karat. Because pure gold dents easily, they combine it with other materials. 18 karat is 75% pure gold. For instance if you had 1 ounce of 18 karat gold and gold spot price is $900 then that's $900 x .75 or $675 worth of gold at the melt price. If someone says they are providing you 70 percent of the melt price, they should pay you $675 x .70 = $472.50.
The warning is is to check other sources and pencil the various prices paid. Weigh your articles and pencil if they are 18 karat, 22 karat, 14 karat, etc. and their individual weights.
Gold weight is another issue in nomenclature. It is measured in troy ounces. A measure used to weigh precious metals of gold, platinum and silver, a pennyweight (abbreviated dwt.) is equal to 24 grains and there are 20 pennyweights in a Troy ounce.
What can be confusing is that your food scale at home uses 28 grams per ounce. understand that you are using a somewhat different scale of weight. Troy Ounces: A unit of apothecary weight equal to 480 grains or one twelfth of a troy pound and Grams: A metric unit of weight equal to one thousandth of a kilogram.
If you are a bit puzzled about how to estimate your gold jewelry, find a trusted source to weigh your gold and record your results. Note that when gold prices are ramping up, you'll likely cut a better deal since the dealer is optimistic about getting even more with the rising market. Off topic: save 50% replenishing personal checks at Cool Checks
Don't fall for the hothead, do cool checks for prices from gold dealers show a range from 10% to 70% of the melt price. Most gold dealers will pay you only 50% of the melt price, pawn shops pay in the 40% to 50% range.
The TV rabble-rousers and heavily advertised sites give you the least for your gold. Surveys find that they offer 10% to 33% of the melt price for your gold.
Foremost, you need to beware of the quantity of gold you have by weight so you don't get scammed. Pure gold is 24 karat. Because pure gold dents easily, they combine it with other materials. 18 karat is 75% pure gold. For instance if you had 1 ounce of 18 karat gold and gold spot price is $900 then that's $900 x .75 or $675 worth of gold at the melt price. If someone says they are providing you 70 percent of the melt price, they should pay you $675 x .70 = $472.50.
The warning is is to check other sources and pencil the various prices paid. Weigh your articles and pencil if they are 18 karat, 22 karat, 14 karat, etc. and their individual weights.
Gold weight is another issue in nomenclature. It is measured in troy ounces. A measure used to weigh precious metals of gold, platinum and silver, a pennyweight (abbreviated dwt.) is equal to 24 grains and there are 20 pennyweights in a Troy ounce.
What can be confusing is that your food scale at home uses 28 grams per ounce. understand that you are using a somewhat different scale of weight. Troy Ounces: A unit of apothecary weight equal to 480 grains or one twelfth of a troy pound and Grams: A metric unit of weight equal to one thousandth of a kilogram.
If you are a bit puzzled about how to estimate your gold jewelry, find a trusted source to weigh your gold and record your results. Note that when gold prices are ramping up, you'll likely cut a better deal since the dealer is optimistic about getting even more with the rising market. Off topic: save 50% replenishing personal checks at Cool Checks
About the Author:
If you see yourself running out of bank checks, you can save up to 50 percent off what most banks charge. Find a huge choice of cool bank check designs from a variety of check manufacturer printers covering a wide stretch of categories at Check Designs