What You Need To Know When Selling Your Silver And Gold

Do you have extra silver or gold pieces lying around the house? Maybe it's some old jewelry you no longer use or maybe you once purchased silver and gold specifically as a long-term investment. Whatever the reason, if the time has come for you to sell gold or silver to a local pawn shop or other buyers, you will, of course, want to make sure you maximize your payout to the fullest extent. Here are some tips to keep in mind when looking to cash in on your silver or gold.

Check the Market Price First

The exact value of silver and gold does go up and down over time just like the stock market. Some people choose to invest in silver and gold though because the price is usually not as volatile from day to day as some other forms of investment. Still, it's a good idea to do a simple online search for current gold and silver value before you consider selling your jewelry or other pieces. If things have been in a downturn, you might want to hold onto your precious metals until you will get a bit more value out of them.

Organize Your Silver and Gold By How Much Silver and Gold is Actually in the Piece

Just because something looks gold or silver on the outside does not mean that it is gold or silver all the way through. Gold, for example, is graded according to karats. The higher the number of karats, the closer to pure gold the piece will be. Silver pieces don't use the karat system, but you might see something like .900 stamped onto a silver piece. This means that the silver piece is 90 percent pure silver and the rest is likely copper or some other metal that is of lower value. You want to separate your gold or silver pieces according to how pure they actually are. This will ensure that the buyer doesn't weight a higher value piece that got mixed in with lower value items.

 Make It Look Good

Silver and gold jewelry and other pieces are often graded according to their condition. You may be able to get more money when selling these items if you purchase a little bit of polish and make everything shine before you take it to the buyer.

To learn more about how to sell gold, contact a local gold buyer near you.