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Selling Gold Jewelry

Selling Gold Jewelry

sell gold jewelryYour dwindling bank account may have you thinking about selling gold jewelry. The high value of gold tempts many people to sell scrap gold. That old ring in the jewelry box starts looking like a million bucks. You can rest assured that the old ring in your jewelry box is not worth a million bucks. So don’t assume you’ll get rich by selling scrap gold.

You have to decide if you want to sell your gold jewelry as jewelry or scrap gold. Selling jewelry for its weight in gold probably won’t get you a lot of money. Consider the price you paid for the piece. A $500 ring might bring in $100 or less as scrap gold.

This is because the ring will be valued based only on its gold content. The craftsmanship or antique value of the ring is unimportant. The ring could have a diamond in it, but it doesn’t matter.

When you realize the small amount of money you’ll get, you might decide selling your gold item is not a good idea. If you ring has a high resale value as a piece of jewelry, sell it that way. It’s possible that you can get more by selling the ring than by selling it for scrap gold. This is certainly true if the ring is an antique.

You should also keep in mind that some jewelry has absolutely no resale value. Class rings, plain wedding bands and rings that are in bad shape are difficult to sell. Those items are probably best used for a scrap gold sale.

You’ll probably want to get your jewelry appraised first. Search online and in your local phone books for appraisers. Most of them charge a fee for their services, so be prepared to part with some money. 

Find an appraiser you can afford and make an appointment. When you go to the appointment, make sure to take all the gold you want to sell.

The following items can be sold if they are made from real gold:

– Bracelets
– Rings
– Earrings
– Necklaces
– Cufflinks
– Charms
– Miscellaneous Knickknacks

If you don’t want to visit an appraiser, ask a jeweler for help. They can weigh your gold and give you a value based on its weight. However, that’s not the actual amount you’ll get for scraping the gold item.

Whoever buys your gold will take at least 10 percent or more off its true value. This is so they can resell the piece and make a profit.

When you’re selling gold jewelry, a collector is the only person who might pay the actual value of your jewelry. However, you’d have to have a rare or valuable piece to attract a collector’s attention. You should try to find a local buyer before looking outside of your city.

If you can’t find a local buyer, carefully research nonlocal buyers before doing business with them. There are people who will scam you out of your gold. Taking time to perform research will pay off in the end.

Selling Gold Coins for Cash

Selling Gold Coins

Gold EagleSelling gold coins can come in handy if you’re strapped for cash. You might have a jar of old coins your grandparents gave you.

They might be worth more than you realize. Perhaps your grandparents want you to help them sell their old coins. In any case, you need to find the right place to sell gold coins.

Departing with items that have sentimental value isn’t always easy. It depends on who gave them to you. You have to think about what’s more important. Letting go of items with sentimental value is hard. But if the rent is due and you have no cash, selling those gold coins might be your only option.

The first step is to get your collection appraised. Just because coins are gold, doesn’t mean they’re worth a million dollars. On the other hand, your coins just might be worth a million dollars. You need to know one way or the other.

Researching the value of your gold coins is fun. You get to dig through your collection and examine each coin. It’s kind of like a treasure hunt. You might discover a lot of interesting things about your coin collection.

Once you start researching your coins, you’ll find out what type you have. Gold bullion coins are special edition coins not used for currency. They are usually made to commemorate a special event or person. Only a certain amount is sold before the coins are no longer available. You might also have gold antique coins that are collectible. Or perhaps your coins are only worth their weight in gold.

Searching online is probably the easiest way to find out about your gold coins. You can find out how much a particular coin is worth. Find out if there are different versions of the same coin.

The entire process can be quite fun if you enjoy looking at old money. Check with local coin dealers after you know the value of your coins.

Take your collection and see what they have to offer. You might get lucky and sell your collection on the spot. Since you have an idea what your coins are worth, you’ll know if the offer is good.  If you think you can get more money elsewhere, hold out and visit a few other dealers. You might receive an offer that’s much better than the first one.

There are alternatives to selling to a local dealer. Some companies buy gold through the mail. These places are usually good for selling gold jewelry. The reason is because they are not concerned about whether or not a coin is an antique. They just want the gold for gold scrap meltdown.

For gold coins, you might want to stick with a collector or dealer. They care about the actual value of the coin, and not just its gold content.

Selling gold coins for cash is an adventure. The excitement of discovering the value of your collection is fun. And the anticipation of what you’ll receive is exciting.