Gold Buyer Fees: What Sellers Should Know Before Selling
Selling gold can look simple. You check the gold price, take your jewellery to a Gold Buyer , and receive payment. But the first price you hear is not always the amount you will keep. Fees, deductions, purity, weight, and the buyer’s margin can all reduce your final payout. For example, imagine you have 20 grams of 18-karat gold. Because 18K gold is about 75% pure, the piece contains about 15 grams of pure gold. If a buyer offers 70% of its melt value and then takes another 5% fee, your final payment can be much lower than your first estimate. The key question is not, “What percentage do you pay?” It is, “How much will I receive after every deduction?” The Better Business Bureau recommends getting quotes from several buyers because offers can vary significantly. It also notes that gold buyers may take a charge for refining. The Offer Is Not the Price You Keep A buyer may advertise a high percentage of the gold’s value. However, that percentage may not tell you the full story. Possible ...