Business & Finance Investing & Financial Markets

Selling Gold - How Does the Industry Work?

You can check the Better Business Bureau to see reports on different companies.
The BBB can give you great incite to companies that do not provide what they promise.
To sell your gold you need to know how the industry works.
Gold prices fluctuate daily and you need to know what the price is to sell gold.
By checking a few websites you can find out what the current price for gold is.
There are also different karats of gold.
The purest gold is 24 karat gold.
You should expect to receive the highest price for the 24 karat gold.
Other karats are 18, 14 and 12.
These will bring in slightly less money.
A buyer who owns their own refinery can provide the highest price for your gold.
A refinery is where gold jewelry and be melted down into its purest form.
By owning their own refinery a buyer cuts out the middle man and can pay more for your jewelry.
They have less overhead.
Also attributing to overhead is whether or not a buyer has their own brick and mortar store.
If they own a store they have more overhead and therefore will pay less to you to sell gold.
Many online buyers do not as much overhead and will you more to sell jewelry.
Research on the internet and try to get referrals from satisfied legitimate customers for any business you are dealing with.
The more you know about the gold industry the more informed you will be when you go to sell gold.
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