How to Find Good Gold Buyers in Rahway

by | May 8, 2012 | Financial Services

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Finding good gold buyers in Rahway who will give you a great price for your used or unwanted gold is very simple when you start with understanding the business of gold buying. Quite frankly, many people don’t understand the business and what goes into providing you cash value for used gold. And, it really isn’t advertised online since most cash for gold companies don’t want their customers to understand the way they do business – fearing they might not use their company.

However, the fact is that an honest gold buyer is a trade that goes back to the creation of modern civilization. And the truth about how the process is completed is very important for customers to realize prior to exchanging their gold for cash.

The industry of buying gold is very competitive, however for the most part; each gold buyer will purchase products at the same price. Although some gold buyers will attempt to undersell the competition, the truth is that these companies are simple brokers between your gold and the professional companies who purchase the raw materials used to turn your used gold into profitable and key components which power today’s super-computers.

The process for determining the value of your gold is the same across the industry. Karat weight of the gold, the purity of the gold and the physical weight of the gold usually are factored to complete a base value for each type of gold. Another important factor is that every gold buyer will take time to inspect your jewelry to determine if what you are bringing them is pure gold or if it is ‘fake’ or plated. Here is an easy way to begin the process so you don’t waste your time heading to the gold buyer with ‘Fools Gold’.

Simply take a magnifying glass and physically inspect each piece of jewelry you suspect is made from gold. What you are looking for is marks stamped into the gold such as 10K, 14K or 24K. This will tell you that the item is a certain ‘Karat’ gold weight – (or the purity). A 10K ring = 10 parts gold to 14 parts alloy or 41.7 percent pure gold. Jewelry that has 14K gold = 14 parts gold to 10 parts alloy, or 58.3 percent pure gold. The most pure form of gold stamped will be 24K gold.

If you see marks that have a fraction on the jewelry or the letters GF stamped determine that the gold is in fact gold plated. If there is a mark that has the numbers 925 on it, that means it is sterling silver and not white gold. If the stamp PLAT is notated, then it is platinum.

Gold buyers verify this information for one simple reason and this is the same thing they all have in common; accuracy and authentic gold. Gold buyers will get paid nothing from their buyers if the materials they submit are not 100% authentic gold. As such, they usually tend to be very cautious about what they purchase.

If you are looking for gold buyers in Rahway, a great way to save your and their time is to verify the type of gold you have so the process can be quicker and easier for all parties involved.

Gold Buyers

Gold Buyers

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