Tuesday, September 20, 2022

How To Sell Gold Jewelry For Cash

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Cash For Gold At Home Parties:

Discover How To Sell Gold Jewelry For Cash

When the price of gold goes up, I always hear about cash for gold parties and fundraisers. This sounds like a fun time with your friends, or maybe a good fundraiser for your organization. But please beware! I have heard horror stories about Cash for Gold parties:

A client brought me a one-ounce Vienna Austrian gold Philharmonic coin for appraisal. These are beautiful bullion coins and in addition to the gold value, collectors are building sets and collecting specific dates. This is a good example of a collectible bullion coin. I examined the coin and it was uncirculated, housed in a nice holder and carried a value above spot price. As I examined the edges, I noticed something strange. There was a portion of the edge rubbed away! I asked the client about the mark and they explained that it was taken out of the holder at a cash-for-gold party held at a friends house. The buyer removed the coin from the holder and rubbed it on a touchstone to test the purity of the gold! This person damaged the coin and brought the value down instantly. To make matters worse, the buyer only offered half of the current market value. When the seller brought the coin to me, I was able to offer a higher price, but it would have been higher if the coin wasnt damaged.

Payment For Scrap Gold:

When you are finished and you have agreed to a price, its time to get paid. In the state of Connecticut gold buyers are required to pay using a check. Gold buyers and pawn shops are not allowed to pay you actual cash for scrap gold. Also, bring your Photo ID. I am required to keep good records of all transactions.

Compare Prices From Multiple Vendors

To sell locally, go to coin shops. Ive sold silver bars to a coin shop at the spot price. Thats unusual, but the owner sells them to other customers for $2 over spot, and at the time, he was short on inventory.

The possibility of visiting at the right time when a vendor needs more of what you have to sell makes it worth at least trying small vendors. Most coin shop owners Ive queried pay 85 to 95% of the spot price. The heavily-advertised storefront silver and gold buyers Ive called or visited paid from 60 to 70% for bars and one-ounce rounds, which is terrible.

To sell by mail, compare companies online. Where2SellGold.com does periodic reviews of many gold buyers. In a recent test, they sent 10.5 grams of 14-karat gold to seven different buyers and received offers that ranged from $188.93 to as low as $87.87. Another test they did in 2012 yielded an incredible range of offers, from $237.50 down to $48.96!

They also note how long it took for requested gold packs to arrive, and how long it took to get their gold back when they refused an offer. Not too surprisingly, the companies paying the least tended to take longer to return the gold.

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Get Instant Cash For Your Unwanted Jewelry

At Sell Gold Jewelry for Cash, we exchange unwanted gold, silver, diamonds, watches, and more for cash instantly. Bring in whatever unwanted jewelry or precious metals you have, regardless of quality or condition, and we will buy it from you with the highest cash offer in New York City! Give us a call for more information on our cash for gold services. Stop in today and get the cash you need for that vacation youâve been longing for.

What Is The Minimum Price You Should Get For Your Gold

How to Sell Your Used Jewelry for Cash

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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How Pure Is Raw Gold

Raw goldis 100% pure gold in its natural state, and always contains some kind of impurities.

When these impurities consist of other metals, the gold is considered to be an alloy. The most common metal to be found with gold is silver, but gold can also be found with copper, iron, and lead impurities as well.

Raw gold is commonly found as 18 karat gold, it can be as low as 14 karats in purity.

How Do Gold Buyers Make Money

Gold buyers are often gold dealers who can make money in a couple of different ways. They can buy gold from consumers at a discounted price and then sell that gold to wholesalers and refiners in their supply chain.

Other gold buyers stock an inventory of gold that they have pre-purchased in bulk at a discount. They will sell individual and smaller amounts of gold to consumers, taking a mark-up in the process. Other dealers are brokers who are strictly middlemen who take orders from one entity and drop-ship orders from larger wholesalers.

Recommended Reading: How Much Is 18 Karat Gold Per Ounce

How Much Do Gold Buyers Pay

Just like everyone else, gold buyers are in business to turn a profit. That means the less they have to pay someone who walks in the door and wants to sell some gold, the greater potential there is for them to turn a profit.

You will need to shop around to find the best deal when you want to sell. Recognize that a dealer has overhead and they will need to buy your gold at some kind of a discount before they can process what they buy and resell it to others in the gold marketplace.

The La Jolla Gems Experience

Where To Sell Gold Coins & Jewelry For Cash

When you sell gold for cash, we understand that your jewelry or gold pieces might have sentimental value. Whenever we sense that you have an emotional attachment to your gold, we make sure that you never feel pressured to sell to us until you are ready. We always strive to give you the most comfortable experience possible. All of our gold buyers are seasoned professionals who have years of successful transactions and happy clients. Whenever you work with us, you can always expect:

  • The highest level of customer service
  • Secure, comfortable selling experiences

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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.

Find Out How Much You Have To Sell

How much your metal is worth depends on the amount of it, as well as current market prices.

Precious metals are typically sold . If you are selling gold jewelry or a gold coin, instead, the metal is unlikely to be pure. Multiply the percentage of purity by the total weight to find the total amount of gold or other metals that you have.

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Craigslist Or Facebook Marketplace

You can always try selling your jewelry yourself to make more money. Jewelry stores and pawn shops must pay you a low amount so they can profit. Its free to list your items on Craigslist, Facebook Marketplace, or selling apps and you can charge less than your local stores.

Getting an official appraisal for your jewelry can help you earn more money as you can verify the authenticity. The appraiser should also tell you the fair market value for your jewelry.

Pros

  • Can make more money as you sell directly to the buyer
  • Can sell jewelry that stores wont buy from you
  • Its free to list on most apps
  • Cons

  • Requires more effort than going to a store
  • May need furnish official appraisal to prove authenticity
  • With Over 250000 Customers Served And $50000000 Paid Out To Those Customers Since Our Inception In 2005 Cash For Gold Usa Is One Of The Largest Online B2c Gold Buyers In The World

    Sell Gold Jewelry for Cash

    What do you buy?Do you buy broken jewelry?What if my material does not fit in the SAFEPAK or the FedEx envelope you send me?Can I mail my material in my own packaging?If Im unhappy with my offer, will it cost me anything to get my item back?How do I know my material is safe and secure? What about when it gets to your refinery?Do you buy diamonds?Do you buy Dental Scrap? And if so, what? And is it safe to ship? Cash For Dental Scrap Do you buy Silver or Sterling Silver?

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    Consider The Best Time To Sell Gold

    The rules of supply and demand dictate that if more people want to invest in a commodity, its price will increase. Gold tends to be in more demand when the economy is looking rocky, as its seen as a safer bet than other forms of investment, such as stocks and shares.

    Its therefore worth considering the state of the economy when selling gold. If you think harder times are on the horizon, it might be worth holding out for gold prices to rise.

    Nevertheless, as with any investment, its very difficult to accurately predict future rises or falls in value.

    Selling Cartier Watch Or Jewelry

    Cartier is considered by many to be one of the most luxurious brands, making their jewelry and watches highly coveted. Some of the most expensive Cartier pieces ever sold include the Sunrise Ruby Ring which sold for $25 million in 2015 and the La Peregrina Necklace valued at roughly $11.8 million.

    Some of the more popular Cartier designs include:

    • Diamants Legers Necklaces
    • Trinity de Cartier Rings
    • Juste un Clou Bracelets

    Prices will vary from design to design and depending on the metal and whether or not diamonds are included. For example, an 18k white gold LOVE bracelet recently sold on Worthy.com for about $3,000, while a similar piece with diamonds sold for more than double that amount.

    Cartier does not buy back their jewelry, which means youll need to turn to a third-party buyer to sell your piece. An online jewelry auction house like Worthy.com will likely be your best bet, though you may also consider a local jeweler that you trust to give you a good price.

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    Local Precious Metals Dealers

    If you live near a precious metals dealer, you can probably sell your gold to them. These companies have experience determining the authenticity of precious metals and assessing their true worth.

    With a reputable dealer, you have a good chance of getting a good deal and the convenience of making a sale in-person.

    Look At The Value Of The Whole Item Not Just The Gold

    Where To Sell Gold Coins & Jewelry For Cash

    Gold buyers are generally interested only in the value of the metal making up gold items, rather than any precious stones in them or the value of the craftsmanship.

    Cash-for-gold companies may remove stones from gold jewellery and discard them if you send off rings, earrings and necklaces set with precious gems – preventing you from cashing in on their value.

    Likewise, high-fashion or branded jewellery may be worth more if kept whole, than if you sell it on for melting.

    Other items, such as old coins, medals and keepsakes, may be worth far more than you’d ever receive from a cash-for-gold firm, or even from a non-specialist high street jeweller.

    If you suspect any items you own have more value than just the gold in them, are antiques or might be of interest to collectors, get them properly assessed and valued before selling them.

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    Where To Sell Gold Online

    You have a lot of options for selling your gold online, but its vital that you use a trusted website.

    When you sell jewelry online, you will have to send the item in to get a final estimate, and you cant risk losing the item altogether.

    Because online jewelry stores can be scams, be sure to look at how long they have been in business before selling your jewelry to them.

    Here are several trusted sources you can use to ensure the safety of your gold jewelry.

    Best Online Gold Buyer: Cash For Gold Usa

    In a highly competitive online gold buying world, Cash for Gold USA is the best online broker for several reasons:

    You get paid fast. Within 24 hours after an appraisal and accepting the offer sent to you, Cash for Gold USA will send you a check, or pay you by bank wire or PayPal.

    Not only can you request shipping free of charge for your gold items, but they are also insured every step of the way via USPS or FedEx. Standard coverage is $5,000 for FedEx, but additional insurance is available for items valued at up to $100,000.

    Cash for Gold USA is established and highly reputable. In fact, their parent company has an A+ rating from the Better Business Bureau. The site has served more than 250,000 customers and paid out more than $53 million since 2005.

    Your transaction is risk-free, meaning you can back out at any time if you dont like the price youre offered. If you make that decision after you ship your gold, your gold items will be sent back to you at no charge.

    The site will buy kinds of gold, silver and platinum items, including broken jewelry and dental scrap. The material is based on weight and purity, not the condition. In addition, the site also buys diamonds and silver.

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    Are There Other Online Gold Buyers Worth Considering

    Yes. There are certain niche buyers in the marketplace who may be a better fit for your gold selling needs.

    Weve mentioned rare gold coins and antique jewelry. Some of those can be quite valuable, way above the melt price youd receive from a gold buyer only interested in weight and karats.

    There are literally thousands of specialists who know the market for rare gold coins, antiques, heirloom and estate pieces. They have the connections and can offer you top dollar, or they can assist you in a competitive auction situation if warranted.

    To truly know the value of what you are selling, its advisable to get an appraisal by a member of the American Society of Appraisers, the International Society of Appraisers or the National Association of Jewelry Appraisers.

    Appraisals should be done on a flat fee and should range from $100 to $400, depending on how long the appraisal takes. Simple rings may take no more than an hour but larger pieces with elaborate settings and multiple gems could take three or four hours to appraise.

    Appraisals, often conducted for insurance purposes, determine the retail replacement cost of your jewelry, not the resale price.

    If youre getting an appraisal with the idea of reselling, then ask the appraiser if he or she can also give you a resale price estimate.

    If Youre Selling Gold Online

    How to Sell Your Used Jewelry for Cash

    Selling your gold online will usually get you the best price, especially compared to selling it to a local pawn shop or jewelry store. We recommend using the following tips to get the best deal on your gold jewelry, coins or other items:

    • Before shipping anything, use a calculator to estimate how much youll get. Weve mentioned an example of a cash-for-gold calculator further up the page. While a calculator wont give you an exact figure, it should give you a rough estimate of how much your gold is worth.
    • Be prepared to say no. If you get an offer that you think is too low, you can always turn it down. However, note that some online gold buyers might charge a small fee in order to cover their appraisal process and shipping/insurance costs.
    • If you have time, check locally first and compare offers. If you want to sell your gold items but dont need cash urgently, you can try visiting a few pawn shops and local gold buyers before sending in your items for an appraisal from an online gold merchant. This way, youll be able to choose the best offer and get as much money as possible for your old gold jewelry, coins or other gold items.

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    Should I Sell To Gold Buyers Near Me

    If you want to trade for the quickest way possible to get cash in hand versus getting the highest possible price, then yes, go ahead.

    You may find a buyer near you that will give you a reasonable price, but if you just stop at the first handwritten sign reading Cash for Gold place you see after googling who buys gold near me, you are doing yourself a disservice.

    Realistically, you could walk into a local gold buyers shop or office and have cash in hand in 15 minutes. But the speed at which online buyers operate, and the potential to get a much better price means that you should give yourself the opportunity that casting your sellers net far and wide can provide to you.

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