Best Place To Sell Gold Jewelry For Cash

Act Now To Sell Gold Or Wait

Selling gold bullion bars or rounds commemorative gold pieces usually can give you some quick cash. Even gold jewelry, coins or other antiques, which usually have less gold content, could net a good payout.

Patience may be even more important right now though, said Patrick Yip, the business development director for major gold seller APMEX. He and other experts are predicting the value of gold will more than double in the coming years.

I think that gold could make a move thats multiples of what we see today, if history repeats, he said, adding that in the past when the stock market struggled, precious metals excelled.

Goldman Sachs has predicted the price will hit $2,500 by the end of 2022. But if $1,800 an ounce right now sounds good, heres how to sell gold like a pro.

How Much Is 24k Gold Worth

24k gold is the purest form of gold that youll find. As such, youll get more money for 24k gold than for any other kind, such as 18k or 14k.

In order to determine how much your 24k gold is worth, all you need to do it:

• Look up the current spot price of gold in grams
• Weigh your 24k gold
• Multiply the weight of your 24k gold by the current spot price of gold

Sell Gold Jewelry Gold Coins Gold Bars Or Scrap Gold To True North Gold Buyer

We are one of the country’s fastest and highest paying buyers of Gold, Silver and other Precious Metals and offer our service to all York, GTA communities and neighbourhoods like Markham, Vaughan, Richmond Hill, Newmarket, Aurora, Whitchurch-Stouffville, King, Gwillimbury, Georgina and Canada wide. We pay top dollar for old gold, silver or platinum containing items and jewelry, such as rings, bracelets, necklaces, earrings, watches, coins, bars, silverware, crucibles, thermocouples or dental gold.

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Selling Gold For Cash Calculator

As we mentioned above, the gold spot prices you can find online refer to pure 24k gold, not the 10k, 14k and 18k gold thats commonly used to manufacture jewelry.

The pure gold content of 10k gold is approximately 41.7%. 14k gold has a 58.3% gold content, while 18k gold has a 75% gold content. This means that you cant accurately use the gold spot price quoted online to calculate the value of most gold jewelry based on its own.

Some gold selling websites provide calculators that allow you to quickly and easily work out the pure gold content of a gold ring or other jewelry, then calculate an approximate price for the gold used to make the item.

You can use this gold price calculator. To use it, type in an items weight, then select its karatage. The calculator will provide an estimate for the items value should you decide to send it in for appraisal.

Is It Gold Scrap Or Something More

Before you sell your gold for a melt-down price, be sure its not worth more in its present form. In some cases, people will unknowingly take gold in to be sold, unaware that they may also be in possession of a valuable artifact or antique that could fetch a lot more elsewhere. When in doubt, have your gold pieces appraised and the provenance established

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Selling Your Gold To A Dedicated Gold Buyer

Dedicated gold buyers have the infrastructure needed to make the gold buying, smelting and selling process as efficient as possible. As a result they can offer you the best price for your gold.

While they may not be quite as fast as pawn shops, their streamlined process means that you can receive your payment very quickly. Most dedicated gold buyers ask you to send them your gold items so that they can appraise it and determine its value. Once thats done, if you decide to accept the offer, its likely that youll receive the cash the next day.

Dedicated gold buyers arent the best place to sell gold that is likely to continue to be used as jewelry, but if you have gold that is going to be melted down then they should deliver the smoothest transaction and the highest price.

One thing to know is that not all dedicated gold buyers are the same some will pay considerably more for your gold.

Whats The Price Someone Will Buy Gold From You For

Apart from the market price of gold, the other price that is relevant to you as a gold seller is the price that someone will actually pay you for your gold.

When a gold buyer buys gold, they are planning on melting it down, recasting it and then reselling it and they will be aiming to sell it for as close to the current gold market price as possible.

To do this, they will have costs that they need

• Equipment to smelt gold and recast it in a form which can be sold
• Overheads like rent, electricity, insurance
• Licenses to professional bodies

As they are a business, they also want to make a profit to allow the business to continue to operate. For all of these reasons, the price that a gold buyer pays for second-hand gold cant be the market price.

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Best Places To Sell Jewelry For The Most Money In 2022

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What To Expect When Selling Your Old Jewelry

Another way to make some cash is to sell your jewelry for its scrap value. This means youre selling it only for value of its materials. It will be disassembled and melted down into a bullion. This is the easiest way to sell your jewelry. To do this you have to go to a gold buying store with your jewelry or mail them off. They will usually make you an offer immediately. Here is a quick rundown of what returns you might see depending on the market from Bob Frick at Kiplinger:

When you sell gold coins or bars, you should expect to receive at least 90% to 95% of the current market value. But with gold jewelry, youre likely to get only 70% to 80% of the melt value. The difference reflects the dealers profit, plus the cost of melting and refining your gold and turning it into new gold jewelry or bullion.

You should know what kind of scrap value youre working with before you do this. You should bring your gold and silver items to a local metal buyer for appraisal first and it up to you decide to sell it there or not suggested Steve Gillman at The Penny Hoarder. If they make you an offer you still have the option to shop around for the best deal.

The American Gem Society offers some simple steps if you want to determine the scarp value on your own:

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How Can I Sell My Gold Jewelry Without Getting Ripped Off

The best way to get the best value for your gold jewelry is to: 1) Understand what you have in terms of karat and weight of the metal, and, 2) Know the price of gold today.

From there, you can shop your gold jewelry around to get the highest price or the quickest sale, whatever is most important to you.

More To Know And Is It A Good Time To Sell Your Gold Jewelry

If you are selling your used jewelry, bring the receipts if you have them. It will help to know what karat the gold is or the carat of diamonds. You can shop around and see where the highest offer is at. Knowing the weight of the gold will allow you to get quotes over the phone. This is the best way to find the best place to sell jewelry for cash.

Selling at the right time is important, but selling to the right buyer is even more crucial. Offers may vary greatly from one dealer to another. Thats where a little informational knowledge comes in on your part. Typically, dealers will quote a price in grams or pennyweights. Which, in and of itself, can be very confusing. So, what does that mean in dollars? How do you translate those measurements into a meaningful amount one can understand? Lets dive in a little deeper.

Gold prices are hovering around all time highs. This means it is a great time to sell.

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Factors To Consider When Selling Jewelry

Its common for people to sell their jewelry ornaments for cash or when they need new replacements. If you want to sell your precious items, there are several factors that you need to avoid falling victim to scams or experiencing disappointing situations. Having the right market knowledge will ensure that you get value for your money. Some of the things that you need to know before selling your jewelry include:

The Best Places To Sell Gold Online

The best place to sell gold online depends on the type of gold youre selling. If you have gold in the form of bullion bars or coins, youll get by far the best prices by selling them to a dealer that specializes in gold bullion.

For gold watches and other brand name gold jewelry, youll get the best price selling privately or through a company that specializes in this type of product.

For gold jewelry that doesnt have any brand name, such as most engagement rings, earrings, bracelets and other gold items, youll get the best prices by selling to an online gold buyer such as Abe Mor.

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How Gold Purity Affects The Price Youll Get For Your Jewelry

Most people have heard of gold karats, but not everyone really knows what this means.

Karat is a measure of the purity of gold and is measured on a scale using 24 karats.

24 karat gold is 100% pure gold, while 12 karat is 50% pure gold. Each of the different karats basically indicates how much gold is contained and the further down you go on the karat scale the less pure your gold is

This may sound obvious, but the amount of raw gold in your item will affect the price that you will be able to sell it for.

18 is a 50% larger number than 12, so an 18 karat wedding ring has 50% more gold in it than a 12 karat gold ring. An 18 karat wedding ring will therefore be worth 50% more to the gold buyer as it is the raw gold it contains that they are concerned about.

Forms Of Gold Jewelry

Gold jewelry comes in many forms and styles. Whether that is dental crowns, bracelets, rings, necklaces, watches, earrings, or pendants. These items that are made with gold commonly contain 10k, 14k, or 18k. While gold is precious, it is also malleable. When looking at jewelry you want durability and for it to stand the test of time. Due to this, gold is mixed with other metals to give it value and allow everyone to enjoy the look. 24k items are rare because pure gold will inevitably be damaged. Pure gold is not meant for everyday wear because it is a soft metal, unlike metals like steel.

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Know The Best Time To Sell Gold And When Not To Sell

Make sure you know the value of gold before selling. The best way to determine if you should sell your jewelry immediately or wait is to look at how investors are behaving.

When gold prices fall, investors buy more of it. This is bad for you! Wait until prices rise. Gold prices often rise when other types of assets, like stocks, fall.

What Is The Minimum Price You Should Get For Your Gold

At a bare minimum, you should receive a high percentage of the melt price for any gold coins you are selling. In many cases, you should receive a lot more than the intrinsic value for rare coins.

Be sure to visit multiple dealers to confirm the value of your gold, especially if it is in a form that collectors will prize.

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Youre Not Limited By Where You Live

Your options for physical stores are limited.

Your city will only have a set number of gold stores and youre not going to want to drive for miles to find more. Sell online though and your location doesnt matter. You can find great deals without having to go far. And you open yourself up to businesses from around the world, giving you access to a much wider range of offers!

Selling Your Gold At A Pawnbrokers

Pawn shops are a fast and convenient way to trade valuables for cash. Its a reasonably well-regulated industry and its a safe way to trade your gold in.

The flip side of this of paying for convenience and speed is that you are likely to be offered significantly less than your golds actual value.

PawnNerd is a website owned by a pawn store owner which aims to explain how pawn shops work to consumers. In their article about how pawn shops buy gold, they say:

you can expect a pawn shop to pay somewhere between 40-70% of the current scrap market value of your gold.

If you dont need the cash today, then there are other places to sell t ensure you get significantly more for your gold.

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Best Place To Sell Gold

Which is the best place to sell gold?

Gold can be the reason to smile this season. Despite the economic woes, its value is skyrocketing in recent times. You can sell your old gold jewellery or coins to help escape the recessionary lull. Getting a full market value for an ounce of gold can be a tough proposition. However, know your cards well before you plunge into the gold-sellers market.

One of the key things you have to remember is that the store or gold buyer you choose has to be a certified and registered gold dealer. You should be aware of which is the best place to sell gold in these difficult times. Since you want to achieve the best deal, make sure you go to the best dealer.

Remember these key points when you choose a place for selling your gold:

What To Expect When Selling Jewelry

Jewelry is commonly a combination of gold and other metals. Your jewelry might not be a full ounce, which is a measurement used for pure 24k gold, and isnt made with pure gold. The spot price is based on a full ounce of pure, 24k, gold. Jewelry is often based higher than the amount of gold because the craftsmanship and the willingness to pay.

Gold buyers are not alike. Buyers are not obligated to be trustworthy or payout the value of your items. If youre looking to get the most cash for your items, it is important to research each business. Trustworthy and well-informed buyers are what to look for. Checking the ratings and reviews is a dead giveaway when searching. This is a key tool to use, people are not afraid to tell you what they think. If you go there and find the same thing to be true then leave another review to help others.

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How Does Karat Weight Impact The Value Of My Gold

Gold is measured in karats, which is a scale of gold fineness used in the United States. Because gold is so malleable, it often needs to be alloyed with other materials for increased hardness. This can create variations in color, melting points, and of course, price points. Using a standard international scale to measure the purity of gold allows jewelers to know the total gold content per 24 parts immediately. For example: 24 karats of gold is 24 parts of pure gold. It also allows us to adhere to an ethical standard of giving the best price for gold.

Where To Sell Jewelry: Best Places To Get The Most Money

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Do you have jewelry you no longer want or need?

Maybe you have a few pieces that you want to sell to get a little extra money.

Knowing where to sell your jewelry can help you get the most money for that item.

Nowadays, there are many opens. Some are better and faster than others.

You can sell your jewelry at local retailers, such as jewelry stores or pawn shops, or online. Choosing the best option will depend on several factors including how fast you need the money and what jewelry youre trying to sell.

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