3 Important Questions to Ask Before Working with a Gold Buyer

Are you thinking about selling your gold to a buyer? Here are a few important questions to ask before you decide whether or not to do business with the gold buyer:

Are There Any Stipulations?

It's a good idea to find out whether there are any stipulations to consider concerning the gold you plan on selling before taking it in to be evaluated by the buyer. Your gold buyer may not accept everything that you have to offer. For example, they may only accept yellow gold when you have some white gold to sell. Or they might not accept anything with stones or jewels attached to it, like jewelry.

In this case, you'd have to strip your gold pieces until nothing is left but gold, which could be time consuming and inconvenient before all is said and done. There may be other stipulations you don't want to deal with as well. So, take the time to find out all the stipulations before you even bother heading to see your buyer with all of your gold.

How Is the Gold Valued?

You should also know how your gold will be valued when having it inspected by your buyer, so you know exactly what to expect during your evaluation meeting. You may not get an accurate estimate of your gold's value by simply weighing the gold at home. Your gold buyer could use a different type of scale that would result in different weight results that you get at home. And they may use other valuation methods that you aren't considering when trying to gauge how much you'll earn when selling your gold.

Finding out how the gold will be valued before taking it in for inspection will help you better estimate what your offer may be. This will help you avoid any unwanted financial surprises when it comes time to sign a sales contract.

How Does the Payment Process Work?

Understanding how the payment process works will allow you to efficiently manage your financial budget before and after you actually sell your gold. Depending on the buyer you are working with, you might receive your funds on the spot, or you may have to wait weeks to receive a check. If you wait until the day that you take your gold in to sell before finding out how the payment process works, you might be very disappointed and end up having to figure out how to rearrange your budget.

Learn more about the industry by contacting gold buyers like Beaverton Coin & Currency.