Locals in Mandeville know how to get the best value for their money. That’s why when it comes time to sell gold jewelry, Mandeville residents want to know where they can get the best cash for gold.
Due to this, Dupre Coins & Precious Metals knows Mandeville, LA needs a precious metals shop that they can trust. Dupre Coins & Precious Metals is a long-time resident of Mandeville LA, which means it cares about cultivating the relationships necessary to best serve you, the Mandeville LA resident.
The gold rush is on. There are many buyers looking to earn your business in the gold buying business. Making sense, right? Prices of gold have fluctuated wildly over the past few years. Gold even reached a high in recent memory.
Now everyone agrees that cashing in is a good idea.
Gold parties are popular among some Americans. Having your jewelry appraised together with your friends is a fun trend. Cash is awarded on the spot.
But don’t be so hasty.
Before you sell your gold, silver, platinum, and palladium jewelry, it is important to do your research.
1. Know the weight.
It is of utmost importance to know how much gold you own. Weigh your precious metals in troy ounces rather than ounces. Gold and silver are weighed at 31.1 grams per Troy ounce, as opposed to 28 grams per ounce on US scales.
The troy ounce can be measured using pennyweights or grams, depending on the dealer. There are 1.555 pennyweights in an ounce.
How does the karatage work? Too soft pure gold does not work as jewelry. In the US, the Federal Trade Commission requires that all jewelry be sold with a description of the alloy’s karat fineness. Each karat represents one quarter of pure gold by weight. Therefore, 14 karats would mean that the jewelry is made of 14 parts gold and 10 parts other metals. The meaning of “gold jewelry” drops to 10 karats below.
2. Organize Your Karats
Know what you’re dealing with. Knowing what is 14 karats and what is 18 karats is important since jewelry pieces weigh differently. Before selling your gold jewelry, you should separate it by karat.
3. Know the Value
Verify the current market price for gold. Some dealers are aware that people are just looking for quick cash, so they will offer you low prices for your gold.
4. Know Your Buyer
A local dealer might be the best choice. The environment in coin shops is often quite welcoming. It is best to deal with an operator who is honest and does not hesitate to show scales or acid tests. Gold sellers who are more educated will do better.
5. Know What You Are Selling
If gold items are sold as they are rather than melted, they may be worth more. Gold necklaces and bracelets from well-known designers may have a value to some buyers beyond the gold they are made of.
At Dupre Coins, you’ll find a diversified inventory of gold, silver and other precious metals backed by over 40 years of expertise and excellent customer service. We buy or sell your precious metals and jewelry in Mandeville LA and can help you preserve your wealth with precious metals today!