Tuesday, 16 August 2022 06:49

What do sellers have to pay attention to when selling gold?

Goldankauf Tegel Goldankauf Tegel pixabay

Due to the ongoing Corona pandemic, the Ukraine war and the related inflation, the price of gold continues to rise. So it is not surprising that many investors now want to sell their golden treasures at the current high prices.

But what should you look out for if you want to sell gold jewellery or high-quality gold bars or coins?

What sells well?

Gold has already overcome many a crisis, because the precious metal is not only used to make jewellery, coins or bars. The demand for gold is enormous because gold carries many valuable properties that are in great demand, especially in manufacturing. Basically, one can sell gold jewellery as well as bars and coins very well. Depending on who you sell your sparkling treasures to, the gold will be melted down and probably sold elsewhere. Whether the gold jewellery will continue to end up in the jewellery box, however, is then questionable.

Sellers must pay attention to the gold content

Not all gold is the same, not only goldsmiths pay close attention to the gold content. This is usually indicated by a corresponding hallmark on pieces of jewellery. In Germany, jewellery is predominantly offered with 333, 585 or 750 gold content. The higher the gold content, the higher the value of the piece of jewellery and thus, of course, the higher the price. For coins or gold bars, the gold content is specified and can therefore be easily determined. Depending on the gold content of jewellery, the current gold price, which can be seen on the internet, can be calculated.

Check offers from different buyers

Gold can be sold in refineries, at jewellers or at precious metal dealers. The range of interested parties is therefore diverse and the purchase prices can be just as different. At Goldankauf Tegel, we look closely at the daily gold price in order to be able to make the supplier a fair offer. If you want to sell jewellery, gold coins or gold bars, you should definitely ask for the prices of interested parties in the area and then, of course, decide on the best offer. However, a long period of consideration can cause prices to fall again, as reputable gold buyers must always work with the current daily gold price.

Do without house calls

Those who offer gold on the internet will not only receive many low purchase prices, but will also attract one or two fraudsters. Some buyers pretend to be interested and would prefer to examine and collect the gold directly from the owner's home. Especially when selling coins and gold bars, the pieces are then often replaced unnoticed by cheap fakes. Of course, the sale does not take place, but the seller of the gold goods has still been cheated. Often, the fraud is only noticed when one continues to try to offer gold coins or bars.

Caution when selling via the internet

There are also some dangers lurking when selling online. For one thing, sellers need to know the value of the gold pieces in order to have the goods to be shipped insured at a correspondingly high level. In addition, there have been some cases where the sale of gold coins and gold bars ends in fraud. The supposed buyer declared the goods sent to him as fake and sent gold bars or coins back to the seller. But the latter did not receive the coins or bars he had previously sent full of confidence, but instead received back counterfeit pieces that had no value.

Respectable local dealers enable a fair purchase

If you want to get a good price, you should sell locally. Those who know their goods, in terms of gold content, are in a good negotiating position. The reputable dealer offers a fair price after an open examination and thus a good conclusion of the deal.

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