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Understanding Financial Terms

When you start shopping for a home loan, it might be easy to assume that all lenders are the same. After all, they all have mortgage brokers, paperwork, and impressive offices. However, when you really start exploring the details, you might discover that lenders all have something different to offer. On my blog, you will learn more about financial terminology, so that you can determine what you are getting into when you sign the terms of an agreement. This information is presented in an easy to understand, friendly way, so that you aren't bombarded by terminology and industry jargon that you don't understand.

Understanding Financial Terms

Preparing To Sell Gold Jewelry When You Are In Dire Need Of Cash

by Dylan Graves

If you were involved in a traffic accident and the front end of your car was damaged badly, resulting in a large automotive repair bill that your car insurance won't cover, being short on cash can be a scary prospect and could put you out of commission for a while if you rely on your vehicle to transport you to your job in a neighboring town. If you own gold jewelry that you are thinking about parting with, you may be able to raise the money needed. The tips below will assist with preparing to sell your gold.

Clean Jewelry And Have Pieces Appraised

Collect gold pieces of jewelry from jewelry boxes or safes in your home. Use a soft cloth or cotton swab that has been dampened with jewelry polish to clean each piece of jewelry. When choosing a polish, make sure that it specifies on the bottle that the product is designed for use on gold so that you do not accidentally ruin the finish on any of the pieces.

Place the jewelry on a towel so that the pieces can air dry. Pack the jewelry inside of individual plastic bags that seal so that none of the pieces get tangled prior to having them appraised. Bring the jewelry to an appraiser to get an idea of how much each piece is currently worth.

Contact A Gold Dealer

After heading home from the appraiser's, research information about various gold dealers in the area and give them a call to acquire information concerning how much they pay per each ounce of gold. If the going rate is favorable, stop by each of the gold dealers to show them the gold pieces that you have on hand.

A dealer will likely inspect the pieces and will place the gold jewelry on a scale to calculate how heavy your pieces are. If you are satisfied with the amount of money that you are offered, you can sell the pieces on the spot and may be provided with cash or a check in exchange for the gold. 

Consider Pawning Pieces

If you have second thoughts about selling the gold pieces or if you aren't going to be able to raise enough funds to pay for your automotive repair bill by selling the pieces, consider pawning the pieces so that you can temporarily raise money without losing the jewelry.

After pawning your gold, you will have some of the money that can be put toward the car repair bill and that will help you put a dent in the debt and provide you with hope that you will soon be able to raise the rest of the funds. Working hard and vigilantly saving money will assist with taking care of the remainder of the bill. Contact a buyer, like Beaverton Coin & Currency, for more help.