Visiting gold buyers in Chicago may seem somewhat intimidating to many people simply because they don’t really understand how the gold buying and selling process works. However, there is no need to be worried about visiting a gold buyer in the Chicago area. This can be a very simple process, and will be an excellent way to gather some spare cash if the right preparations are made.
First, it is always smart to know exactly what is being sold. Check all items that will be sold to look for markings that will indicate the karat weight of the gold. The most common gold markings are: 18K (for 18 karat gold,) 14K (for 14 karat gold,) 12K (for 12 karat gold,) and 10K (for 10 karat gold.) It is quite rare, but sometimes gold is also seen with a 22k marking that indicates 22 karat gold. The most rare type of gold of all is that which is marked with a 24K, indicating that it is pure 24 karat gold.
The most expensive and valuable gold is that with the higher karat weight. The higher that the number is, the more genuine gold is in the piece. With the lower numbers, the gold is actually part base metal. For example, a 10 karat gold ring is made from 10 parts of gold and 14 parts of another metal. The base metal is generally worthless, so the gold buyers are paying only for the actual gold in the piece.
The spot price is the current market price of gold, and it is worthwhile to look that price up before going to sell gold. While spot price can change from day to day (and even one hour to the next) it can be a good baseline to understand the value of gold. The typical gold buyer will pay less than spot price, but not dramatically so. Gold is one of the best values as far as resale goes and will usually net far more than electronics. Before visiting local gold buyers in Chicago, browse our website to find out more about the different things that can be bought and sold.
