Top 5 Mistakes to Avoid When Selling Your Old Gold/Silver

1. Not Knowing the Current Market Price

• Failing to research the current gold or silver spot price can leave you vulnerable to low offers.
• Tip: Check live market rates before selling to have a baseline for negotiations.

2. Ignoring Purity and Weight

• Many sellers overlook the importance of knowing the exact purity and weight of their gold or silver.
• Tip: Have your items tested by a trusted jeweler or appraiser before approaching buyers.

3. Choosing the Wrong Buyer

• Selling to unlicensed or unreliable buyers often leads to undervaluation or scams.
• Tip: Always work with licensed and reputable gold or silver buyers with positive reviews.

4. Selling Without Comparing Offers

• Accepting the first offer you receive might mean missing out on better deals.
• Tip: Obtain quotes from multiple buyers to ensure you’re getting a competitive price.

5. Ignoring Hidden Fees or Terms

• Some buyers may deduct fees or have unfavorable payment terms, reducing your final payout.
• Tip: Ask for a breakdown of the offer, and ensure there are no hidden costs before proceeding.