5 Things to Know While Opting Cash for Gold

Have old gold to sell for cash? Need money immediately for you gold? Then, opt for Cash For Gold services. You will get money instantly. Only time will be for testing the purity of your gold. While opting for such services, there are some things related to this trade that you must understand. It helps save time and gets you more money.

The following are some are the things to know when going for cash for gold services:

#1 Selling Non-Hallmarked Gold

Trying to sell non-hallmarked gold wastes your time. The service providers will take time to check for impurities. Often, a certain percentage of gold in non-hallmarked gold is impure. This is a big problem in India. That is why you should always buy gold with hallmark of Bureau of Indian Standards.

#2 Not Being Present For Tests

Many cash for gold service providers are genuine and provide authentic service. There are others who try to cheat. It is especially done while testing for purity. Make sure that purity tests are done right in front of you. Otherwise you will lose your money. It would help if you have prior knowledge on various quality standards for gold. Avoid getting cheated by making yourself knowledgeable and asking for a purity test in your presence.

#3 Stones Do Not Count as Gold

While selling your gold jewellery for cash, remember that stones in the jewellery are not counted as gold. The money you get will only be for the gold in the jewellery. And, if you are expecting to receive money at par with your purchasing amount, forget about it. During purchasing, jewellery cost includes making charges. When selling, you will get an amount for the quantity of gold in the jewellery.

#4 Bullion Rate

The amount of money for your gold is decided upon the existing bullion rate. It is the trading rate of 10 gms of gold for a day. This rate keeps changing every day. It is advisable to know this rate on the day of selling. Newspapers are the best offline sources for knowing this rate. Or else, you can get authentic information on rats from various websites.

#5 Identifying the Best Service Provider

Best cash for gold service provider will be the one who is willing to accept even small quantity of gold. They undertake tests immediately in your presence and provide accurate data regarding your gold. The amount will be based on the bullion rate for the day and the payment is done immediately. Know about the service provider you chose before making the sale. Seek authentic reviews and finally, make the deal.

If you have more queries regarding cash for gold services or want to sell your gold, visit us now.