Saturday, July 13, 2024

How To Sell Old Gold Jewelry

Don't Miss

How Much Is 14k White Gold Worth

How to Sell Old Gold Jewelry

14k white gold contains 58.3% gold. Because gold is a soft metal, and 14k gold has less gold in it, youll typically find that 14k white gold will be sturdier than 18k white gold.

To find out how much your 14k white gold is worth, you will need to:

  • Look up the current spot price of gold.
  • Weight your 14k white gold and multiply that number by 0.583 to determine how much pure gold is in the item.
  • Multiply the number above with the current spot price of gold to determine how much it is worth.

Whats The Best Way To Get The Most Return On Your Jewelry

Selling estate jewelry is the art of compromise. There is a balance between dollar paid and quickness of payment and ease of transaction. If you want the high price, fast and easy, you are dreaming. The higher the price gained from the sale of estate jewelry, the longer the time and more difficult the transaction. Finding another consumer to buy your jewelry is the most profitable but the most difficult, time consuming and problematic. Walking into a dealers shop is the easiest and fastest way to sell but you are selling at wholesale or less. Finding the balance is a personal judgement call.

Each method of selling estate jewelry has its strengths and liabilities. Besides the price received for the jewelry, the time investment you have to make to sell the jewelry enters the equation. What are your time and energy worth? I have known people who have driven around town for two days just to make $20 more. Dont over look the ease of transaction. Not all people decide to buy and pay cash on the spot. Some individuals take two or three visits just to make up their mind to buy. There could also be a measure of trust in shipping the jewelry across the country or even a payment plan could be the only way a person could afford your jewelry. The balance of dollar paid versus method of payment can be very tricky.

Selling estate jewelry is the art of compromiseEach method has its strengths and liabilities.

How And Where To Sell Unwanted Jewelry Without Getting Scammed

If your jewelry box is a tangle of bling you no longer wear, you may be able to turn those baubles into a car payment, a vacation, a bathroom remodel whatever you value.

To get the most out of your unwanted jewelry, you need to know what the jewelry is worth and where you should sell it. You also need to know yourself. How much effort do you want to put into selling your jewelry? asked Martin Fuller of in McLean, Va., who is a master gemologist and senior accredited appraiser. Its a balance of what your time is worth and what you might recoup selling your jewelry.

To truly know the value of what you are selling, you should get an appraisal by a member of the American Society of Appraisers, the International Society of Appraisers or the National Association of Jewelry Appraisers. Members of all three groups have to adhere to standards and ethics. Appraisals range from $150 to $350 per hour. To give you an idea, a simple diamond ring might take about an hour to appraise, whereas one with multiple diamonds and an elaborate setting might take more than three hours. Some appraisers charge by the item, but under no circumstances should an appraiser charge you a percentage of the items value.

An appraiser can also tell you whether your jewelry is best sold as-is or for scrap. Some jewelry by well-known designers is more valuable intact.

Read Also: 400 Oz Gold Bar Value

Ways To Sell Your Old Gold Jewelry

It’s not a bad idea to sell your old gold jewelry or coins to help you ride out the recession. Just don’t expect to get the full market value for an ounce of gold that you hear so much about.

First, you’ll get a portion of the scrap value, not the market value, for your gold. Buyers melt the gold down, so they will not pay anything for the artisanship or style of the jewelry. Second, dealers must pay a smelter, someone who melts the gold, up to 30 percent of the value to refine the precious metal. Then there’s the buyer’s profit.

Also, remember, some gold items are purer — and more valuable than others are. Pure gold is considered 24 karat, or 24k. Think of it as a 24-slice pie each slice a single karat. Therefore, a necklace that has an ounce of 10k gold has less than half the gold of a necklace with an ounce of 24k gold.

Armed with this knowledge, here are five ways you can sell your gold each a compromise between price and convenience:

Mail-away operationsThe scoop: Seductive advertising and the lure of easy money have drawn in thousands of eager sellers. You mail in your gold and they mail you back a check. GoldPaq, GoldKit and Cash4Gold are among the companies offering the service.

The benefits: It’s easy — they send a prepaid envelope, you drop in the gold, and they mail a check with an itemized receipt and a promise to return your gold if you’re not happy with the price.

List Of Gold Items We Buy For Cash

How to Sell Your Old Gold Jewellery

We know that every customer is unique and comes with different requirements. To serve you better, we have facilitated various options to sell Gold for cash.

You can sell any kind of Gold to get cash from Muthoot Gold Point. Gold Jewellery, Ornaments, Coins, Biscuits and any other form are accepted after checking its purity. Cash for Gold is given lieu of Gold Necklace, Earrings, Bangles, Rings, Bracelet etc the value is dependent on the weight of the ornament.

There is no restriction on Gold type hence it is easy to sell Gold with us. Compared to coins and biscuits, the in general valuation of jewellery is less because of the added metal and stones.

Recommended Reading: War Thunder Golden Eagles Hack

Shop Around For The Best Deal

Once you have a rough idea of what your gold is worth, you shouldnt accept the first offer you get thats close to the right number. Take the time to look up multiple gold buyers and shop around.

Dont be afraid to take your collection to several buyers and have them give you an offer. Making buyers compete usually means youll get a better deal.

What Is The Melt Value Of Gold

First, understand how much you will get when you sell your gold. Check the price of your gold scrap, gold jewelry, gold dental items, or other gold items with CashforGoldUSA’s online gold calculator, based on the most accurate gram and ounce price of gold today > >

CashforGoldUSA’s online price for gold calculator is very accurate because it automatically uses the spot gold price as of today, and calculates the resale value of your gold item based on the karat of gold, and the weight in grams or ounces to provide a gold melt price.

Similarly, CashforGoldUSA’s online gold calculator helps you understand the price for your scrap gold based on today’s gold price, the gram or ounce weight and karat of your scrap.

The way gold buyers determine how much gold is worth is rooted in the London Bullion Market Association, which today runs an electronic auction system called the LBMA Gold Price recognized globally as the accepted market price for gold.

The LBMA is an industry trade association that promotes transparency, quality and ethical sourcing in gold trade.

To give you an estimate of the price you might receive when selling gold: a simple gold wedding band may bring $100 to $200, while a gold chain necklace , typically brings $70 to $250.

A gold crown could fetch prices between $40 and $100, depending on the gold market, and the quality of gold.

If your jewelry is a known brand like Cartier, Tiffany, Taccori or Bulgari, it will typically attract a higher price.

Read Also: Kay Jewelers Sale 19.99

Where To Sell Jewelry Online

There are plenty of places to sell your jewelry online. This can be a good option if you have a unique piece or your offers from local buyers are too low.

One disadvantage of selling online is having to mail in your jewelry. The process can take several weeks to complete shipping, appraisal, and payment process.

Why Cant You Get More Money For Your Old Jewelry

Where To Sell Old Jewelry & Gold

There are a couple of reasons jewelry stores dont usually offer more than 20% of the original retail price for used jewelry.

First, your jewelry is old, and stores are wary of buying used merchandise as they know that its parts are worn out, making the piece not as durable as if it were new. Even if the store tries to sell your jewelry, it would have to offer it at a heavily discounted price to make it attractive to customers.

In many cases, stores dont actually intend to sell the used jewelry they buy from you. They may take the stones out of their mountings and reset them in new pieces.

The metal parts are often sent to refineries to be melted down. Thats why you most likely wont get paid more than what the materials in your jewelry are worth, i.e. it doesnt matter how beautiful the jewelry is as stores dont usually pay a premium for design.

Another important reason for the low second-hand prices is that stores buy diamonds and other jewelry in bulk and thus get attractive discounts from wholesalers.

Thats why jewelers dont really have the incentive to pay more for used jewelry when the new items offered to them are cheap and come with warranties.

You May Like: 400 Oz Gold Bar Size

Should You Sell Your Gold Online

Like with almost every other business transaction, the internet is an option for selling your gold. Ebay, for example, has a marketplace where sellers can send a photograph of their item and receive a quote — without sending in their item. Notably, their buyback partner, APMEX, only accepts bars, coins and rounds.If you have coins or bullion, Smith said, selling the items on eBay is better than a pawn shop. But he prefers local in-person transactions to online sales. Basically you know who you are dealing with, he explained. I guess Im old school inasmuch as I like to deal face to face. If I dont get that warm fuzzy vibe of trust I go elsewhere.

Special caution is warranted, though, if you elect to mail your items to a potential purchaser as part of an online sale. Make sure to take photographs of your items and make a list before mailing them out. Also, you should insure the package before mailing it.

Liberty Gold And Silver

Liberty Gold and Silver is a Portland, Oregon-based precious metals buyer. You can sell gold, silver, platinum, palladium and more all at the same time.

You can request a free quote and shipping label. Liberty Gold and Silver offers shipping insurance up to $1,000.

If youre selling more than $1,000 in metal, youll need to ship and insure the gold yourself, though the company will reimburse you for the cost once it receives your shipment.

You can obtain payment by check in the mail or a wire transfer to your bank account. There is a small fee for wire transfers.

You May Like: Bacardi Gold Drink Mixes

Kitco’s Price Of Gold

Kitco is a leading gold and precious metals buyer and seller, as well as creator of precious metals commodities news. The Kitco Gold Index is a popular measure of real-time gold pricing today. Unlike the stock market, which is a dynamic marketplace, daily gold prices are set by independently owned markets. Kitco is one of these markets.

Gold Value Faqs: How Much Is Gold Worth

How to Sell My Old Gold Jewelry

The resale value of your gold is based on the current market price of gold bullion but considers several other factors. The higher the percentage of gold in your jewelry or coin, the higher the value.

Gold is measured in karats, with 24-karat being the purest gold, with the highest gold melt value. Unless you have gold bullion or another form of pure gold, your gold item is mixed with other metals or alloys.

You can get an estimate for the price of your gold with CashforGoldUSA’s gold calculator, which factors in the current price of gold:

Gold prices are at a 7-year high. As of , the gold resale value in the USA was at a near-record price of $ per ounce, or $ per gram.

Don’t Miss: How Much Is 14k Italian Gold Worth

How Much Is White Gold Worth

White gold is an alloy that consists of gold mixed with one or multiple other metals, such as nickel. Because of this, there is no such thing as 24k white gold. But since it contains at least some gold, white gold will still be valuable. 18k white gold will typically be worth about the same as 18k gold. The same is true when comparing 14k white gold against 14k gold.

Ways To Sell Your Gold

Refiners Youll typically get close to full market value from refining companies. The problem is that refiners usually only buy in bulk. That makes this an unlikely route for you to sell just a few small pieces of gold.

Local jewelers or pawn shops The second-best pay day can typically be had from these kinds of buyers. Call around to ask how much theyll offer for your gold, once you determine its weight using the suggestions below. Use the Better Business Bureau or consumer review sites like Yelp to vet any questionable businesses.

Gold parties These events take their cue from Tupperware parties, lingerie parties or any similar gatherings. You can enjoy a few glasses of wine and socialize with your friends, but dont expect top dollar.

Mail-in buyers The absolute worst deal for your gold and jewelry comes from firms that advertise online, on TV or on highway billboards. Money Adviser checked with Cash4Gold, GoldKit and GoldPaq and found they only pay about 11 to 29 percent of daily market value.

Read Also: Why Are Gold Prices Going Down

Beautiful Diamond Engagement Rings New And Estate Jewelry

We have an expansive in-store selection of diamond engagement rings, gold and diamond wedding bands, diamond eternity bands, diamond bracelets and gemstone pendants and much more!

Since we can buy from the public, we also have beautiful vintage and antique jewelry, as well as diamond and gemstone estate jewelry. And all or our prices are at or below wholesale. We sell diamonds to other jewelers and diamond dealers, so we can sell them to you too!

If we don’t have what you are looking for in-store, we can order it from one of our many trusted suppliers and have it in your hands usually next business day.

How To Calculate The Value Of Old Gold Jewellery

How To Sell Gold Jewelry

Please note, we do not buy / exchange old gold. This guide is only provided as a reference for the customer to calculate an approximate value of their old gold.

There is a very simple & affordable formula to calculate the Value of Old Gold Jewelry

  • Take it to a Gold testing or assaying lab & have it tested for purity.
  • The lab will give you a test report which will state the accurate weight of the sample & its purity in percentage or karats.
  • If you are using the karat purityValue of Gold in the sample = / 24
  • If you are using percentage purityValue of Gold in the sample = / 100
  • Example, let’s say the sample weighed 10 grams with a purity of 18 Karats & rate of gold today is 5,000 per gramValue of Gold Today = 10 x 18 x 5,000 / 24 = 37,500 onlyValue of Gold Today = 10 x 75 x 5,000 / 100 = 37,500 only

You May Like: Drinks To Make With Bacardi Gold

Try Cash For Gold Usa

Another great site where you can sell used jewelry is Cash for Gold USA. This may be the most popular site to sell gold for cash.

Cash for Gold USA will give you an extra $50 just for using their service your first time. If that isnt an incentive we dont know what is!

The company will send you a package so you can send them your gold for free. Within a day, theyll have a certified technician appraise your gold.

Good to Know:

If youre not happy with the price they offer, they will send your items back to you at no cost. If you go ahead with the sale, youll be paid the next day through PayPal, check or bankwire.

How To Sell Your Gold Or Silver Online: Step By Step

When selling precious metals, reputable dealers are increasingly moving to the internet. This is good news for sellers: buyers on the web need to compete with businesses that buy items nationwide.

Go over your items details. For example, if youre selling silver bullion, determine its weight. If you have gold coins, note their date, condition, and characteristics.

Making an inventory like this will help you approach buyers more confidently, as youll know exactly what you have to sell.

As you do this, keep in mind the most common categories and methods used to sell different types of metals. Heres how to get the best price for your items!

Don’t Miss: 5 Grams Of Gold Value

Haggle Before You Sell Gold

Don’t be afraid to haggle if you think you’re not being offered enough for your gold.

Check how many jewellers there are in your area. If there are several competing for business, you may find theyre more willing to negotiate over the best price for your unwanted gold, especially if youre offloading a lot of jewellery.

Gather quotes from several jewellers, then play them off against each other. See our tips on haggling etiquette to increase your chances of a successful negotiation.

More articles

Popular Articles