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Getting the best possible deal on selling your gold

Want to turn some of the assets you've got sitting around in old gold into a bit of extra money? Lots of people are having their eyes opened to the opportunities out there to be found from selling their old gold. It's still a relatively new venture for a lot of people though, so we've put together some things to do to see if it's worth selling your gold.

The first, and perhaps most important step, is establishing whether or not your piece is actually real gold. You can take it into a jewellers and pay a small fee to get it tested. Or, there are some basic tests you can carry out yourself. Hold a magnet near the object - if there's an attraction, it isn't pure gold and is an alloy. If it floats in water, it isn't gold.

Next up, you have to establish the Carat of your gold. Using a magnifying glass, find the hallmark. The hallmarks on gold are as follows: 375 = 9 Carat Gold, 585 = 14 Carat Gold, 750 = 18 Carat Gold, 916 = 22 Carat Gold, and 999 = 24 Carat Gold.

If there are any gems or extra decorations encrusted into the gold, then we recommend taking them out and keeping them as they aren't considered part of the value by Cash for Gold resellers. Then get yourself a small set of scales, and weigh the gold. This will help you get a rough guide of what it's worth as you simply find the price being paid for gold of that carat, and the weight of it.

There's money to be made in selling gold, but you just need to keep yourself protected.

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