Living in Atlanta means you’re in a market that has a high demand for gold, and if you have some laying around, it could turn into cash in your pocket by the end of the day. However, while turning old gold jewelry into cash can be done relatively quickly and easily, the likelihood of you getting a bad deal is high, especially if you work with businesses who buy gold in Atlanta but don’t really care about returning clientele. The issue with gold prices is that they follow the stock, which fluctuates on a daily basis. Anyone who didn’t look up the current prices before sitting down at the negotiation table is setting themselves up for a bad deal.
Understand the Value of Your Jewelry
Knowing what your gold jewelry is worth today will be the most important aspect in any negotiation. While that seems like a no-brainer, since the price changes on a daily basis, it’s easy get the numbers wrong. While jewelers do use rigorous tests to determine gold purity, if your jewelry is authentic, you can figure out what it’s worth without doing any sort of tests. First, figure out how much your jewelry weighs. This should be done using a digital scale, since even half a gram of gold is worth something, especially when it comes to higher purity. You can purchase one of these scales online, or at your local smoke shop. Once you have the weight, all you need to do is figure out gold purity. To do this, you’ll need to look for a small stamp somewhere on your item. Common gold markings are 10-24k, although you may see something like 585, which is equivalent to 14k and means 58.5% purity. If you find something you don’t recognize, your jewelry could be from another country. If you have trouble identifying the stamp, and an online search returns nothing, then consider asking a trusted jeweler to take a look.
Dealing with Honest Jewelers
It’s impossible to know everything about exchanging gold for cash if you don’t work in the industry, which is why finding someone to trust may be your only option in some cases. If your jewelry has strange markings, or no markings at all, be aware that this will raise red flags in any pawn shop or jewelry store. In some cases, you’ll have to trust the jeweler. If you’re in this situation, then doing research on trusted jewelers in your area is more important than figuring out how to appraise gold. Many businesses buy gold in Atlanta, but not all of them offer honesty and transparency.