What To Know Before Selling Your Gold - Baltimore News Story - WBAL Baltimore
To determine the value of your Gold, two factors are used: weight and percentage of pure or 24kt gold the object contains. Let's look at the weight first since it's the easiest. Precious metals are usually weighed by pennyweight (abbreviated DWT). Twenty pennyweight is equal to one ounce. The scale that is used to weigh the gold is state certified for precious metals. Now that we know how much an items weighs, it must now be determined what the Karat is, or in other words, what percentage of pure Gold.
You may be familiar with Gold being called 18kt,14kt, or 10kt, but do you know what this means? If you know fractions, this will be simple. Pure gold is 24kt, 18kt gold is 18 parts pure and 6 parts other metals, 14kt is 14 parts pure and 10 parts other metals, and 10kt is 10 parts pure and 14 parts other metals. In fractions this would be shown as 18/24, 14/24, and 10/24 or 18 divided by 24 which equals .75, 14 divided by 24 which equals .583, and 10 divided by 24 which equals .416 percent pure.
Once the jewelry's weight and pureness of gold content are known, then a fair value can be determined to purchase the gold.
Please keep in mind that the Dealers that buy through the mail or set-up in hotel rooms are not always licensed by the state of Maryland and are often here today and gone tomorrow. The tremendous expenses they incur for TV ads and full-page Ads often force them to pay very little for your gold. Please be careful to deal with a "Brick and Mortar Local Business" who wants to do do more business with you in the future.
We would greatly appreciate the opportunity to give you an offer on your items. Please use us for your second opinion as you should always have more than one in any important decision.
We know you will find we always pay the most as has been discovered by two independent undercover news teams: Channel 11 and Channel 2 News.
To show how confident we are and to insure your trip won't be wasted, we will pay you 10% more than any other legitimate offer. But, we feel our offer will be greater than that anyway, so please allow us to make you an offer first before you even tell us of other previous offers.
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