Choosing A Better LenderChoosing A Better Lender

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Choosing A Better Lender

A few months ago, I realized that I simply couldn't borrow money from my parents anymore. In addition to tapping the resource dry, they were also starting to look a little uncomfortable anytime I was around--even if I wasn't asking for cash. I realized that my financial problems were my own, and that I shouldn't rely on my parents to keep bailing me out. To fix my finances once and for all, I decided to look into choosing a better lender. I found a great bank in town that felt comfortable lending me the money, and they were nice to work with. This blog is all about knowing what to ask and how to choose a lender.


4 Tips For Selling Your Gold

If you have a lot of unused gold jewelry sitting around your home, visiting a gold buyer like Beaverton Coin & Currency lets you exchange your gold for cash. To get the most money for your gold, there are a few guidelines to follow. 

1. Understand How the Gold Buyer Measures Your Gold 

When you take your gold to a gold buyer, they'll measure it to determine the weight of the gold. Most gold buyers will measure gold using a Troy ounce (equal to 31.1 grams). They may also use a unit known as a pennyweight (equivalent to 1.555 grams) to measure Troy ounces. 

Confirm that whatever unit your gold buyer uses to weigh your gold is how they pay you for the gold. For example, if the buyer measures your gold using a pennyweight, they shouldn't pay you by the gram; otherwise, you'll wind up receiving less money than your gold is worth. 

2. Know How the Karat of Your Jewelry Impacts Your Offer

The term karat refers to how much of a piece of jewelry is gold, with 24 karats meaning that the piece is made entirely of gold. For example, 14 karat gold means that the piece has 14 units of gold and 10 units of another metal. 

You'll receive a higher offer for pieces that are higher karats because they have more gold in them than jewelry that's lower karat. An 18 karat bracelet will bring more money than an identical 14 karat bracelet because of the higher gold content.

Make sure that your gold buyer weighs items with the same karat value together to ensure you get the highest offer. Some buyers will make an offer using the lowest karat piece, but this method means less money for your jewelry. 

3. Do Your Research

Occasionally, you may be able to get more money for your gold jewelry by selling it to a gold buyer who intends to sell it as jewelry rather than melting it down. This may occur when you have a piece from a well-known jewelry designer or an antique piece. A reputable buyer can let you know the value of your item for scrap gold and when kept intact. 

4. Get Multiple Offers

Unless you're in a time crunch, it's best to visit multiple gold buyers to ensure that you get the best offer for your jewelry. This also prevents you from accidentally selling a valuable piece for scrap value. 

However, if you need cash as quickly as possible, visit a reputable gold buyer with a solid reputation. Make sure to bring your ID, as you'll need it to complete the purchase process.