Top 3 Mistakes To Avoid When Trading Gold
We could all use some extra income but most of us are struggling to keep the job we have while working from home. Luckily you don’t have to take on an extra job to bring in more money. In fact, if you know where to look it's easy to turn in jewellery for a good price. In this article, I will be telling you how to avoid the biggest mistakes made when pawning or trading jewellery.
Let’s jump in.
Mistake#1: Only Trade with a Trusted and Reliable Centre
If you are interested in trading gold, for example, make sure you are going to a respected and reliable gold centre. Unfortunately, there are scammers out there who will lie about your quality of gold and give you the work scrap gold price uk.
Honest places like the London Gold Centre offer full transparency with a price chart listed so you know the scrap gold price uk which fluctuates based on the market. Here is how to tell you are in a good place:
- Read online reviews
- Ask about their gold testing process
- Make sure they have a certified scale
- Ask about hidden charges
- Check if they offer competitive pricing
In addition only send in your scrap gold or other valuables to a reliable place so that all the necessary security measures are taken.
Mistake #2: Not Checking Scales
If you want to shop around and see which place can offer you the best price for your gold you can have it weighed with a certified scale or weigh it yourself at home. Just make sure your scale is very accurate to the .10 of a gram.
Once weighed, do your research and check the current fixed gold price. You will need to know the Karat of your jewellery or scrap gold to determine the pricing for the day. Keep in mind you can trade in various scrap and gold. Here are some examples of various metals you can sell at London Gold Centre:
- Jewellery
- Coins
- Gold Bars
- Scrap gold and silver
- Platinum and diamonds
Tip #3: Gold Testing Methods
Unfortunately a lot of buyers still use the acid test to test the value of gold but this is NOT accurate and it could mean a loss on your end. Instead, verify what testing methods are used. You should be shown technology capable of high processing that is accurate as well as safe .
London Gold Centre uses state-of-the-art technology to provide accurate information each time. This will tell you exactly what karat you have.
When used with the weight you will be able to get the most accurate price and information before you sell to anyone.
Recap
If you are thinking about selling your scrap gold or have a coin collection or other gold items to sell be sure to avoid these top mistakes. By always making sure you choose a reliable and honest gold centre that only uses honest weights and testing methods you can avoid any unfortunate losses. For more information contact the London Gold Centre today!
