Things To Remember While Buying Gold From Experienced Buyers

Experienced Buyers

Gold is mostly bought in the form of gold jewelry. As the jewelry looks beautiful and is valuable, it serves a dual purpose. It provides an aesthetic value as well as a monetary value. Gold coins are another way of buying gold. They are bought solely for their monetary value.

However, before buying gold, even from experienced gold buyers, the following points must be kept in mind.

1.      Gold Jewelry

(a)   The Purity of the Gold

The purity of gold is the most important factor and measured in Karats. It signifies the “fineness”. Each Karat divides this purity into 24ths to measure it.  Accordingly, for example, 24 Karat gold is one hundred percent pure while 12 Karat gold is fifty percent pure.

However, gold jewelry is not usually sold in 24 Karat gold. Instead, 22 Karat, 18 Karat, and 14 Karat are the standard purities in which gold jewelry is made and sold. Preferences in this regard are made the value it has. 24 Karat gold is a lot more expensive and therefore more valuable. However, because it is soft, it can get damaged very easily. As the others are all alloys, they are less expensive, less useful but more durable.

                                                        

(b)   Research to Know the Genuineness Of Gold Buyers

Thorough research is extremely important for finding reputable, experienced gold buyers. An initial online search will reveal some options. These can be shortlisted through official websites providing detailed information about various organizations. The final step is going to the premise, have an face-to-face interaction. It can give you an idea of what they sell. It also gives an indication of how willing they are to provide the information needed before making any final section(s). A professional and accommodating attitude is what you are looking for. But this again must be backed by the information you have gathered from family, friends, and other contacts.

(c)    The Making Charges of Gold Jewelry

Please note that every jewelry piece has a certain making charge. This charges primarily differs according to the size and intricacies of the design, whether it is antique or designer-made, and the Karat. The weight of the piece and other precious stones it is combined with are also determinants. All of these add to the cost, making each piece expensive. It is only for experienced gold buyers that you can get the good making charge and the actual cost.  

  

(d)   Warranty Applicable for Gold Jewelry

Genuine, experienced gold buyers offer warranties on gold jewelry pieces. These relate to different types of return policies. Though they increase the overall cost, they are worthwhile, especially for pure gold and expensive pieces. However, due to the possibility of damage, getting a warranty is essential for all gold jewelry pieces. 

(e)   Checking the Markings

Genuine gold jewelry pieces have a hallmark, and it majorly signifies that the gold jewelry item is real. Other quality aspects relate to it. The markings are typically placed in inconspicuous areas. However, it is important to take the time to look for them. If you buy it from experienced gold buyers, make sure to look for the hallmark as it should be there.

 2.      Gold Coins

Gold Buyers

Gold coins are another option instead of gold jewelry. However, important factors that determine their purchase are:

• They must be bought only from experienced gold buyers, as this can ensure their authenticity.
• Thorough research has to be conducted to find and shortlist a set of these buyers. This includes searching through official online sites and gathering information from family and friends. Other contacts may be useful but going to the actual premises and getting the information by visiting the store is most important.
• The “spot price” has to be checked to ensure that you are not paying more than the actual price. This is important, as gold is a commodity.

The above points ensure that you can purchase genuine gold, either in the form of jewelry or coins.