Give Me A For Instance
So lets say a particular 14k gold chain weighs 20 grams. Remember, only 58% of the weight is pure gold. The other 42% is a conglomeration of other metals. . So: 58% of 20g = 11.6g. In other words, out of that 20 gram chain, only 11.6 grams of it are pure gold. And with gold at $1300/oz.or $41.80/gramthe gold in the chain would be worth $484.88 .
Your Best Case Scenario
In my opinion, in a best case scenario, after diamond prices have appreciated by 10%, you could maybe find someone to buy your diamond for 90, leaving you with a loss of 28% .
If you try and sell your diamond immediately after purchasing it, then your best case would be selling your diamond for 80 or a loss of 36%. Again, this is in an absolute best-case scenario buying bricks & mortar.
Should I Sell Gold Or Keep It
The best time to sell your gold comes down to two factors: necessity, and the price of gold. If you have been sitting on a gold investment for several years, the time could come when you need to release the value of it. … The old adage of ‘buy low sell high’ is as true for gold as it is for other markets.
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How Do Designer Jewelry And Custom Jewelry Prices Get Figured Out
Custom Made Engagement Ring
If you have a one-of-a-kind custom-made ring created for you, your price to be paid will be greater, than a ring of similar weight and style that was factory made. The cost of a custom made ring includes the time of t he designer to create it, as well as the wax carving or CAD/CAM creation, casting, polishing, setting and adding the special finishes or textures plus any engraving that make your ring unique.
A custom wedding or engagement ring has no economy of scale because it is one of a kind. So expect to pay more for the singular care that goes into its making.
What Is Gold Worth
Gold is a precious metal, but its also a commonly traded commodity. The market price for gold changes every single day.
For example, gold cost $1,819 an ounce on February 12, 2021.
To know what gold is worth, youll have to look up that days prices. You can easily do this with a quick internet search.
The price that you see quoted is the price for pure gold. Not all gold jewelry is made of pure gold. Gold is a very soft metal and can easily get damaged.
It is often mixed with other metals, such as copper and silver. This reduces the purity of the gold, reducing its value.
Gold purity is measured in karats. Common karat ratings and their associated purities are:
- 24 karat 99.9% pure
- 12 karat 50% pure
- 6 karat 25% pure
If you have four ounces of 6 karat gold, you only have one ounce of real gold.
The other three ounces are other metals that are alloyed with the gold, so the price you can get for the gold will reflect how much of its weight is pure gold.
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Check The Price Of Gold
Gold prices have been hovering at a 7-year high. As of , the gold resale value in the United States was at a near-record price of $ per ounce, or $ per gram.
You can get an estimate for the price of your gold with CashforGoldUSA’s gold calculator, which factors in the current price of gold.
You can also find historical gold prices at Kitco.com. However, it may be futile to try to time the market and sell gold high. Cash in hand today is worth much more than waiting a few weeks or months to see if the price increases a little.
How Much Do Pawn Shops Pay For Diamond Rings
Most pawn shops usually pay about 30 to 60% of what a diamond is worth. Once you add in the standard retail markup thats applied to most diamonds, this means that youll usually receive an offer for a small fraction of the amount you paid for your diamond ring when it was new.
The reason pawn shops pay so little is simple their business model requires them to buy your diamond at a very low price in order to make a profit. Weve explained this in more detail in our guide to selling diamond rings at a pawn shop.
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Can I Sell Gold To A Bank
The bad news is that most banks do NOT accept gold due to missing evaluation possibilities. During the last 10 years many counterfeit coins and bars appeared because the gold price raised so rapidly. The risk of buying gold with a tungsten core is serious and most banks are not willing to bear buying-risks.
What Should I Expect The Markup To Be
To have a rule of thumb on what mark-up to expect, think a minimum of double. If the cost of a chain is $500.00 expect to pay $1,000.00 or more. A machine made chain will have a cost of the gold, plus alloyed metals, plus labor to make it.
Earrings, rings, bracelets, are all more complex to create than machine made gold chains. So the mark-up will be more just for that aspect of your jewelry.
Any retail mark-up of course takes into account rents, marketing, staffing and we just won’t go there. Just know that the reason you can’t get it at the price the jeweler does is because you aren’t buying a kilo at a time from a gold manufacturer.
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Shop Around Before Selling Your Gold
Amanda Gizzi, spokesperson for jeweler trade organization Jewelers of America, says that getting more than one offer and selling to a reputable purchaser are important steps to selling gold and jewelry safely for a fair price.
Shopping around is a good way to understand the average price you can expect, Gizzi said. If you can find a jeweler that you like to buy jewelry from, you may find you get a higher amount if you use the money toward another jewelry purchase.Kate Mars, who lives in Arlington, Virginia, went by recommendations from people she trusted when she sold jewelry and a coin collection from a safe deposit box left when her father died.
Through the estate lawyer, she found a coin dealer in nearby Frederick, Maryland, where the dealer gave Mars a sense of security as he went through her books of coins and told her what had value.
The jewelry had been appraised for the estate and none of it was particularly valuable, Mars said. She took that to a jewelry store that was recommended to her — and that had been in business for a long time. The people were nice, she said. They looked everything up…Even if I could have made a few more bucks , I am happy with the experience.
Understanding How Silver Is Valued
Second only to gold silver has been valued as a precious metal for thousands of years. Historians believe people began separating silver from lead as early as 4000 B.C. Over the years, it has been used as ornamentation, utensils, currency, and more.
So what makes silver so valuable even today? Silver is rare and extremely useful for a variety of applications.
A few facts about silver:
- Silver is a very effective conductor of electricity .
- Silver is used in the manufacture of photovoltaic panels and solar cells.
- Silver salts were used in the Middle Ages for yellow and orange colors in stained glass.
- Silver is often used in water purifiers to prevent the buildup of bacteria and algae.
Practical uses aside, silver is just plain beautiful!
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Warning Dont Sell Your Gold To Just Anyone
Did you know that in the province of British Columbia there are no laws to regulate what gold buyers have to pay you for your gold?
Thats right, they can and often will, offer next to nothing for your gold and it is perfectly legal! Unscrupulous gold buyers want to buy your gold for less than 50% of its actual worth. To protect yourself you really need to find a gold buyer you can trust.
When you find yourself asking, Where do I sell gold for cash in Victoria BC? or Am I really getting a good price? You will be very happy that you shopped around and came to us for a Free second opinion. Old N Gold has earned a reputation for being Victorias best place to sell gold, silver, and diamonds for cash.
So, who can you trust to buy your gold for a fair and honest value?
There are too many fly-by-night companies advertising on TV, radio and in the papers, wanting to buy your gold. You have to ask yourself can you really trust them?
Often when you get to their location you find out that they are actually foreign companies setting up shop for a few days buying as much as they can for the lowest price you will accept and then move on to the next town.
Far too many people are lured in by their official looking advertising only to be taken advantage of. Our smart clients educate themselves and choose to deal with an established reputable company like Old N Gold.
If you choose to deal with just anyone you may end up selling your gold for pennies instead of cash dollars.
How Much Is 18k White Gold Worth
18k white gold contains 75% gold.
To find out how much your 18k white gold is worth, all you have to do is:
- Look up the current spot price of gold.
- Weight your 18k white gold and multiply that number by 0.75 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.
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Option : Visit A Pawnshop
Pawnshops are tempting as a way to get quick money for gold or silver. However, beware: youll pay a price for this speed.
Pawnshops know that sellers are unlikely to comparison shop prices for items like gold. Youll also get a lower price than you would on the internet because of the speed of the sale.
When Should You Sell Silver
After rising about 40% this year, silver is at a two-year high. Percentage wise, silver has actually gone up more than gold! So, if you have silver, you may be wondering: Is now the time to sell?
When is the right time to sell silver?
The answer depends on the current state of the silver market, the value of your specific piece, and most importantly, your own financial plans.
Whether you have sterling silver flatware, jewelry, coins, or even a silver watch, this post will help you decide if, when, and how to sell your silver for the best possible price.
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Where To Sell Your Silver
Once you have some gold and silver to sell, you need to decide where to bring it. Generally speaking, most people go to a pawn shop or bullion dealer. Reputable precious metals dealers are often few and far between in person, but many are moving their business online, opening up new possibilities . Weve looked at these two common sale locations to help you understand what youre getting yourself into.
Where To Sell Silver
The GoldSilver Team
If youre selling silver bullion, you want to get the best price available. Perhaps youve been investing in precious metals for many years and now you think its time to offload some of your collection. Or maybe youve inherited some precious metals from a family member or are cleaning out your jewelry drawer. Whatever your case may be, weve put together this guide to help make sure your transaction is as smooth as possible.
We look at all the most important things you should consider before you sell your silver, including:
- Getting a fair price
- Selling different forms of bullion
- Where to sell your precious metals
- Selling silver bullion to or from a pawn shop
- Online sales and storage
Whenever you decide the time is right for selling silver, the three primary factors to consider are price, convenience and safety. Lets look at the topics above while considering how these factors come into play, beginning with the biggest question of all:
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Five Tips For Selling Your Gold Jewelry
Advertisements promising cash for your gold jewelry are very hard to miss and not always for good reason. Youve undoubtedly seen one of the many We Buy Gold! commercials and probably had a good chuckle at the-over-the-top characters in them. But while there may be a disconnect between serious gold sellers and the buyers who create cheesy ads to convince you to sell their jewelry to them, seeing great returns on your precious metal items is very possible indeed.
Ensuring that you get the best deal for your unwanted jewelry requires a bit of education about the gold buying market. While the opportunity to see good returns on your gold exists, it requires a bit of understanding around how to navigate a few pitfalls along the way. With this said, lets take a look at how you can take maximize your earnings on your unwanted gold jewelry.
Throughout 2016, gold has performed very well against virtually all other asset classes. While the gold price is high at the moment, fluctuations do occur, so keeping tabs on its value can prevent you from trading at an unfavorable time, or see you smiling all the way to the bank. A good idea is to keep an eye on what investors are doing.
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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Is Now A Good Time To Sell Gold Is Gold Good To Sell Now
When the economy and stocks are unstable, prices of gold historically rise. In other words: Now is an excellent time to sell your gold!
If you have gold jewelry, coins, gold teeth or other gold items that you do not use, or do not enjoy, then you should absolutely sell your gold now. That money can be used to pay down debt, take a vacation, go towards a downpayment of a house or other useful purposes.
Even selling an old gold chain you haven’t worn for years, or is broken, can mean a nice restaurant meal!
Also, it may make sense to sell your gold, and buy stocks or an index fund to take advantage of the down stock market. You are essentially selling your gold high, and buying stocks or real estate low exactly the best way to invest.
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.
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