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You need to know what you have before you go to sell it. Higher karats equals higher gold density and more value. Buyers who do not have a good reputation may try to take advantage of sellers who don't know exactly what they have. Twenty-four karat gold is almost pure gold so it is worth way more than fourteen karat gold.

Be sure to select carefully when considering taking your gold to a pawn shop or jeweler for sale. Some stores won't pay the market price of gold, and it's up to you to realize this. Stores not inside major shopping malls might have lower rent and overhead, and so can pay you more.

Do NOT sell your scrap gold or gold jewelery to a company wanting to do so through the mail. These types of operations pay less than pennies on the dollar and you will have no recourse once you receive your measly check from them. Visit a dealer in person, get a real evaluation and try to sell it to them.

It is important that you read all of the fine print when buying or selling gold. Some buyers will charge you a fee to sell your gold. When you are thinking about sending hefty gold bars or pieces to non-local dealer, consider the logistics. Be smart! Avoid purchasing gold and then leaving it with the dealer!

Check spot prices before you buy. The spot price is readily found on the Internet. Never pay more than 8 percent over the current sales price of gold. Many times sellers will try to sell it at a higher price.

Find out if you have a piece made by a well-known designer. Sometimes, the origin cost of metal fencing panels the piece and the designer of the piece makes a gold piece worth more, rather than having it melted down. Tell the buyer if you have a piece done by someone noteworthy, to get a better price.

Have a basic understanding of grams and steel fence cost pennyweight measurements when selling your gold. Some jewelers will measure in pennyweight but pay in grams, and this results in a lower payment to the seller. Avoid this by asking what measurement your jeweler is using before your pieces are ever weighed, and make sure you are paid based on that same measurement.

If you're buying gold pieces for investment reasons, stay away from proof coins. These coins are polished and mounted, and they can sometimes be worth more than regular coins. The problem is, proof coin value only matters to collectors, and it can vary on a daily basis. For investment only purposes, stick with regular coins.

If you think your gold has high value, have it appraised before going to make a sale. An appraiser is more likely to give you an accurate value for your pieces, while a seller might low ball you to get a better price. Bring your appraisal certificate with you when selling to ensure you're making a fair deal.

When selling your gold, realize that jewelers use a different scale system than others. For example, one ounce of gold will weigh 31.1 grams. Some businesses weigh by the pennyweight, which is 1.555 grams. Then, they purchase by the gram instead of the pennyweight, which can result in them underpaying you.

Avoid rare gold coins unless you really know what you are buying. Rare gold coins can be difficult to sell, and they sometimes lose value quickly. They also might not contain as much gold as you think. Leave such purchases for the experts, and stick to better known coins for your own collection.

When you are thinking about buying gold, consider the person you are buying it from since there is a big difference. Making a purchase from a telemarketer is something that should be avoided at all costs. This is because the high commission they charge makes the transaction not worth it.

When selling your gold, make sure that you separate each piece by its karat value. Some dealers will attempt to weigh all your gold at once then use the lowest karat value to calculate the payment. Keeping your jewelry separated out by karat values ensures that you are paid fairly for each piece.

When you go to sell your gold, make sure your expectations are not too high and bring your government-issued identification. On average, gold dealers pay between 70 and 80 percent cost of metal fencing panels the actual value. The law requires that dealers ask sellers for identification when buying gold to aid police in their investigations about stolen property.

When buying gold coins, always purchase the largest denomination available. Gold firms typically charge a premium on each coin to cover their advertising costs and provide a profit. By purchasing large denominations, and therefore fewer actual coins, you save yourself money by reducing the premium you pay to the dealer.

If you are thinking about becoming a buyer or seller of gold, make sure you are legal! In the United States, you must have a license to purchase, sell or trade gold in any quantities on a regular basis. Check with your city or town about how to become licensed, and then enjoy your new entitlement to dealing in gold.

Consider selling gold online. You don't need to have a physical store location anymore. Just visit a reliable website that will buy your gold. They'll mail you a kit which you use to send them the gold. They will pay you their standard per ounce price for your gold.