Which is the best place to sell gold?

Gold can be the reason to smile this season. Despite the economic woes, its value is skyrocketing in recent times. You can sell your old gold jewellery or coins to help escape the recessionary lull. Getting a full market value for an ounce of gold can be a tough proposition. However, know your cards well before you plunge into the gold-sellers’ market.

One of the key things you have to remember is that the store or gold buyer you choose has to be a certified and registered gold dealer. You should be aware of which is the best place to sell gold in these difficult times. Since you want to achieve the best deal, make sure you go to the best dealer.

Remember these key points when you choose a place for selling your gold:

• Remember that the gold you sell is melted and broken down. The scrap then is separated and you get paid according to the scrap value and not the market value. Buyers often melt the gold and do not take into account the making charge or the labor costs. Artisanship and style are often not a consideration. Dealers also sometimes pay the smelter and keep their profit margins up. Most uncertified gold dealers may keep up to 45 per cent of a profit margin. Be wise. Visit shops which have no middlemen costs and low smelter margins. A place where you can sell your gold and get paid according to the market value of gold is ideal for you.

• Know what the dealer or the gold store specializes in. Most stores are very well known as sellers. Rarely do you find stores that are buyers. Find a good place which matches your price considerations and also is convenient for you as a seller.

• A reputed gold buyer will always ask for your identity proof unlike stores which are not certified or don’t have a legal recognition. This is a practice that is followed in order to protect sellers like you who are genuine and not fraudsters or thieves who are selling stolen items or are laundering valuables. Any gold buyer who does not ask you for your identity proof is actually committing an offense. Be guarded and choose your dealer wisely.

• Choose a gold store that has transparency in its appraisals and transactions. A store should guide you through all the processes in selling gold. You should ask questions and have knowledge about what is happening around you. Everything should happen in front of your eyes and not behind curtains or closed doors.

• Ordinary gold shops or even pawn shops resort to serious haggling. This is a tried and tested practice. Despite this, you should only visit a gold store which has fixed rules and guidelines. This will save you hassle and ensure you get the most cash for your gold..

• Sincerity in dealings and friendly assurance also goes a long way in gold dealings. Customer satisfaction is not a novelty while you sell gold. Getting fair prices serves not just your purpose but enhances the credibility of the gold dealer. Selling valuable goods like gold and silver can be a daunting experience but this is not a rule at all. At Moon Jewellers is better we imbibe all these and much more. The gold you sell finds its rightful place in our store. Bank on us. We will deliver your happiness!