Understanding the Scales Used by a Gold Buyer in Edmond
It’s no surprise that with the rising value of gold and more gold buyers looking for other avenues in procuring gold, more businesses dedicated to buying gold pieces of gold jewelry have become more prolific in the past few years. Fortunately, when you’re dealing with a reputable gold byer in Edmond, it’s an excellent location for you to sell unwanted pieces of gold jewelry to turn that unwanted jewelry into cash. However, you’ll need to make sure that you’re using a reputable buyer and one of the ways to do this is to investigate how they weight your gold.
In most cases, a reputable gold buyer will weigh your gold in grams. If you’re not familiar with the math, there are a little over 28 grams per ounce of gold. Less reputable gold buyers will weigh the gold in what is known as pennyweights. It’s important to remember that pennyweights are a heavier method of weighing gold then grams. However, the gold buyer may still equate pennyweights to grams in the buying price. In essence, a pennyweight equals 1.5 grams. However, if the gold buyer pays you for an ounce of gold, if the weight of the gold equates to 28 pennyweights, you are being grossly underpaid for your gold. The goal buyer will sell the gold per gram and with 28 pennyweights, the goal buyer is roughly purchasing one and a half ounces of gold but only paying you for one ounce.
Most reputable gold buyers will be up front in terms of what scales they use to weight the gold that you’re selling. However, if the gold buyer is evasive about answering this question or if the gold buyer uses pennyweights, then you either need to be very cautious about how much money they offer you for the gold or you need to consider visiting another Gold Buyer in Edmond.
As stated earlier, reputable gold buyersmake it very convenient to take unwanted pieces of jewelry and turn them into cash. Depending on how much jewelry you have to sell, you can make a considerable amount of money thanks to the high prices of an ounce of gold. In order to maximize this profit, you’ll need to make sure that you were aware of how a gold buyer will weigh your jewelry and how much money you’re being paid for your jewelry when it comes time to sell.