How to Exchange Gold
- 1). Decide how you want to sell the gold. If it is in the form of coins or bullion, you can take it to a gold dealer or sell it online. Antique jewelry will fetch a good price at eBay; however, it might take more time. Jewelry and gold coins can also be sold to a jewelry shop.
- 2). Search for an honest, trustworthy purchaser. Find the ones known for their quotes, prompt service, customer service and fair deals. In the age of the Internet, that is easy. Use a search engine to find sites, reports, reviews, blogs, etc. that have ratings, performance reviews and comments and to assist you in making a wise choice. People often write complaints and feedback that can warn you away from unscrupulous dealers.
- 3). Check the prices on a daily basis from a reputed website, such as Yahoo! Finance, MSN Money or The Wall Street Journal. You should be familiar with the rates, so you are not duped. Also check the online speculation. The rates might be expected to go up in a few weeks. If you do not need the money urgently, you might want to wait.
- 4). Polish the jewelry to scrape off dirt and give it a new look. Mix one part ammonia to six parts water. Put the jewelry in ammonia water for a minute, then rinse it with water. As an alternative, you can add a few drops of liquid dish detergent to hot water to soak jewelry. Leave it for 15 minutes, then rinse thoroughly and dry with a cloth.
- 5). Weigh the gold to determine the price. It is advisable to get it weighed by more than one dealer to establish a fair price. Online purchasers send prepaid envelopes for evaluation without charges. Do not send the valuables without insurance.
- 6). Finalize the deal. Save the receipt with the dealer's contact information for future use.
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