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How to Get the Best Deal from Gold Buyers in Missouri
by alex | on May, 2013 | category Jewelry | No Comments
The economy is ever shifting, and in today’s volatile stock market, a sure thing today can be a financial ruin tomorrow. Some investors are choosing to put their money into gold instead of stocks. The price of gold has gone up considerably over the past few years. For the longest time, the price stayed at well below $1,ooo per ounce. Now, it is approaching $2,000 per ounce. If a person has quite a bit of gold, now may be the time to cash in.
Thousands of Americans have discovered gold parties. These are places where they can go to have their gold appraised and cash paid right then and there. But consumers need to do their homework to make sure they are getting the best deal for their valuable gold. Gold Buyers in Missouri area are available at many places including pawn shops and jewelry stores. How do you keep from getting ripped off? It pays to understand a bit about the gold industry.
Jewelers use a weight measurement called a troy ounce when weighing gold. This is equal to 31.3 grams, whereas US scales measure 28 grams per ounce. Some dealers may also use a measurement called pennyweight, which is equal to 1.555 grams. Dealers should not weigh gold by pennyweight and then pay the seller by gram, as this is shorting the seller.
Gold is a very soft and malleable element, which is why it is so attractive for jewelry and other decorative functions. Because of this, pure gold is typically mixed with another metals to make it more durable and to create certain colors. All gold jewelry is required to be sold in a manner that describes the amount of gold in the alloy. This is called a karat. One karat is equal to 1/24 gold by weight. Jewelry with less than 10 Karats cannot be considered gold jewelry. When selling gold to Gold Buyers Missouri area, make sure that gold of varying karats is not weighed together.
Before selling gold, make sure that you know the current values. This information is easy enough to find out. Also, make sure that any jewelry that you intend to scrap is not some well-known designer’s product. This may make the piece worth more intact rather than melted down for gold scrap. When you need Instant Cash For Gold St. Louis, it pays to be educated. Click here for more information.