Cash for gold in New York City sounds like a straightforward exchange, but there are
several factors that you should understand about the process of selling
your gold. In order to make sure that you are paid a fair price, you must
know a little bit about karats, weight systems, and who to sell to. Keep
reading for a few tips for getting cash for your gold.
Purer gold is typically valued at a greater price than gold that is combined
with other metals, and karats are used to describe gold’s composition.
A karat itself represents 1/24 of gold by weight, and if a piece of jewelry
has less than 10 karats, it cannot legally be labeled “gold jewelry.”
A 10-karat piece of jewelry will be made up of 10 parts gold to 14 parts
of other metals that give the item color and durability.
Recognize Systems of Weight
Someone who is willing to buy your gold, like a pawn shop or a jeweler,
will likely weigh your gold in a specialized manner. Although you may
think of an ounce as 28 grams,
there are 31.1 grams in a troy ounce, which is the unit of measurement used to weigh gold. You should also
familiarize yourself with the pennyweight system—one pennyweight
is equal to 1/20 of a troy ounce—before attempting to sell your
gold so that you can more easily communicate with the gold buyer.
Choose Your Buyer
Make sure that your appraisals are accurate and that your business is done
fairly by seeking a reputable gold buyer. Pawn shops such as Gem Pawnbrokers
are prepared to offer competitive prices as well as legitimate customer
service, both of which help to facilitate a fair transaction that leaves
both parties satisfied.
For more tips for getting cash for your gold, contact
Gem Pawnbrokers or visit our website. We are happy to serve the New York City area with
a variety of pawn services including jewelry and estate buying. Feel free
to call us at (718) 619-4192 or stop by one of our pawn shops and meet
with us to find out more about what we can do for you today.