The tradition of buying and selling gold (be it coins, jewels, rings, ornaments, or nuggets) at opportune moments still continues to be a part of this modern society.
If you are one such enthusiast who likes indulging in gold trading, then it is always wise to take some time to do some research prior to selling precious yellow metal.
For your enlightenment, this post will explain some key aspects which you ought to know about selling gold nuggets, be it to your notable jewellery store or trustworthy neighbourhood pawn shop.
So, follow closely!
Things to Know Prior To Selling Your Precious Gold Nuggets!
Determine the Precise Weight of Your Gold Nuggets
The first step is to figure out how much your gold nugget weighs. Doing so will give you an accurate reading of the weight along with the base price, which you can expect to receive on its trade-off!
Examine the Rarity of Your Gold Nuggets
Truth be told, its rarity considerably determines the value of your gold nugget. In today’s time, gold nuggets are becoming scarce. And much of that has to do with the fact that they are being melted for use and re-use! In simpler terms, buyers don’t expect owners to have gold nuggets in today’s time.
If you are one of the lucky ones, then take time to research and gather information about its rarity. As a general rule of thumb- the larger the size of your gold nugget, the rarer it is considered by buyers. So keep that in mind!
Look Into the Shape & Allure of Your Gold Nuggets
Besides determining the rarity of your gold nuggets, you must also look into its shape and beauty. Typically, if your existing gold nuggets are round in shape, then you may not get much value out of it simply because buyers don’t consider it to be an alluring shape.
Contrary-wise, if your gold nugget is jewellery-grade, then your chosen pawn shop or jewellery store will be more than pleased to purchase it from you at a premium cost!
Also, Consider the Size of Your Gold Nuggets
Often gold nuggets of jewelry-grade which come with attractive or rare structures sell very easily at premium rates. For your knowledge, the more unique and special the gold nugget, the more value you can get by selling it.
That said, you shouldn’t choose any jewellery or pawn shop as doing so may bring about inaccuracies in its selling value. You should only choose the very best/reputed pawn shop or jewellery buyer who can determine the actual cost of the offered yellow metal and is willing to trade in exchange for its full value!
Appraise Your Gold Nuggets to Inspect For Existing Impurities
Before selling your gold nuggets, another crucial aspect is appraising it to inspect for any existing impurities. Often the presence of impurities like silver or copper alloys can considerably decrease its estimated price.
In order to do so, you should trust only the best gold dealers in your area to perform the purity test.
Lastly, Keep A Close Watch On The Global Gold Market Situation
Besides the aforementioned, you should also monitor the changes of gold prices in its global market forecast. If you come to know that the price of gold will likely rise in the next couple of days, then you should hold on to it.
Doing so will allow you to sell your gold nuggets at a higher price than what you’d originally estimated.
Give importance to each of these key aspects prior to selling your gold nuggets.