1. What's the biggest mistake people make when trying to sell their used or unwanted gold to CT Gold Buyers? The biggest mistake is not knowing what you have. Before selling your gold, arm yourself with as much information as possible, including the weight of your gold, its fineness (measured in karats, which should be marked on the piece itself) and the current price of gold. If you don't know what you have, you may end up getting ripped off by an unscrupulous dealer who offers you an unfairly low price. If you truly don't know what you have, visit a trustworthy jeweler to find out what you have before making a deal to sell your scrap gold.

2. What kinds of things can be sold to used gold buyers in CT? Gold can be found in jewelry, as well as coins, electronics, and even old dental fillings.

In fact, if you look around your house, it's almost guaranteed that you can find something containing gold. Some of the most common items sold to scrap gold buyers are earrings missing their mate, broken chains, and rings with missing stones.

3. Is it better to try to sell my gold at a jewelry store, pawn shop, through the mail, or on the internet? Where can I find the best CT gold buyers? The best gold buyer is the one that will give you the highest price and the quickest payout. Jewelers and other local buyers can give you cash on the spot, and tend to have the expertise to determine the value of gemstones, signed designer pieces, or coins, all of which may be included in your scrap gold and which may be worth more as-is than their weight in gold. Plus, dealing in-person ensures that you're able to walk away if you're not offered what you thought the gold was worth, unlike with mail-away services, which offer little recourse if the offer is low.

4. How do I get paid for selling scrap gold? When you sell scrap gold to a pawn shop, jewelry store, or other local buyer in CT, you will get paid on the spot in the form of cash, business checks, or money orders. When sending gold to a refining company advertised on TV or on the internet, you typically will receive a check in the mail, usually several weeks or even months after sending away your gold. Other forms of payment can include PayPal or a wire payment direct to your bank account, although these are less common than checks and cash.

5. How much difference in price can I expect from gold buyers when shopping the best price for my used gold? You can expect a surprisingly large price difference between the various CT gold buyers, even between two jewelers or two gold buying services. Because the spot price of gold can be several hundred dollars per ounce, even a one percent difference in the amount they are willing to pay translates to a very large difference in the resulting offer. Always watch the daily spot price of gold and consult with several buyers to make sure you're getting the most out of selling your used gold

6. When is the best time to sell my old gold jewelry? The best time to sell your old gold jewelry is when the spot price of gold is at its highest. With gold currently setting record prices on the market, now is a great time to sell.

7. What is a karat, and how does it affect price? The amount that you will be paid by used gold buyers depends on the weight and quality of the scrap gold that you sell them. Karat is a measure of gold quality. Pure gold is 24 karat, and may be marked 24k. Other common stamps include 18k, 14k, and 10k, indicating a diminishing amount of gold. You may need a magnifying glass to read it, but most gold objects are stamped with one of these numbers.

8. What is gold worth? The current price of gold can be found on the internet or in the newspaper. The price of gold is typically at least several hundred dollars per troy ounce, which is a measurement equal to 31.1 grams. This number can help you determine what your gold is worth, and will be the basis for any CT used gold buyers offer to you.

9. How can I calculate the value of my scrap gold jewelry? To calculate the value of your scrap gold jewelry, you need to know the current price of gold, the weight of your jewelry, and the karat, or measure of what part of the total weight is comprised of gold. Look closely to determine the karat of gold, and use a gram scale to weigh your scrap gold.

Divide the current gold price per ounce by 31.8 to determine today's gold price per gram. Then, multiply this number by the fineness of the gold by first dividing its karat by 24. So, 10 karat gold becomes 10/24 times today's gold price per gram. This will give you the current price of 10 karat gold for every gram of total weight. Multiply this number by the weight of your gold object, and you'll be able to determine what your scrap gold is worth on the market. There are also online calculation tools that will determine this price for you.

10. How much will the CT used gold buyer offer for my gold? Most scrap gold buyers pay between ten and 20 percent less than what the gold is actually worth so that they are able to resell it for a profit. It is very important to know what your gold is worth so that you don't get ripped off. Dealers typically won't tell you how they arrived at their calculation of how much to pay you, but this is exactly how they do it. If you are offered less than 80 percent of the calculated value, look somewhere else to sell your gold. A reputable local gold buyer will be willing to explain the pricing and give you time to consider the offer.