Make Sure Your Jewelry Is Clean And Polished
Just like anything else you sell, before you sell old jewelry, make it look nice. Clean it and make sure its polished.
Even if you think itll be used for scrap, still make it presentable. You want to look professional when you walk into jewelry stores with your gold.
So, now that you know everything there is to know about how to sell gold for cash, let us know what you think. Have you ever sold a valuable piece of gold online? Do you have any tips for our readers?
The Most Reputable Online Gold Buyer
At Sell Your Gold we are committed to providing a positive selling experience with buyers you can trust. With an‘A+’ rating from the Better Business Bureau and hundreds of positive reviews, our customers know they can turn to Sell Your Gold to get the best experience, price and service the industry will offer.
Sell Your Gold has been in business for over 50 years and specializes in appraising all gold, diamond, jewelry, silver and platinum items. Leveraging our proprietary technology every piece we appraise goes through rigorous testing and quality assurance to ensure the most accurate information and the best price for your items.
- Free and insured FedEx shipping**
- VIP door to door service with FedEx in home pick up
- Constant communication on where the items are in our process
- Same day offers
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.
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Is Now A Good Time To Sell Gold Should I Sell My Gold
Only you know these answers for sure.
Prices are relatively high right now, so if you need an infusion of cash, selling gold could provide you with that cushion.
You may have also inherited gold recently, or you simply dont want to store your gold any longer. Both of these are also valid reasons to consider selling your gold.
Keep in mind that gold prices can be volatile, so holding gold after it peaks could actually cost you money. It does not have any real value, except as a financial insurance policy, until you cash it out and use the proceeds elsewhere. If you choose the right time to sell your gold, you may be able to max out your gold profits and turn the proceeds into a different investment that will yield an even higher potential return.
If you have other resources you can tap, holding on to your gold assets is a good move as well. Gold is a stable investment that will always have value. It is universally accepted and the market to buy and sell and buy gold is huge.
The best answer to these questions is that if you have a plan for the cash amount that selling your gold will provide you, then you should seriously consider taking this action.
The Best Places To Sell Gold For Cash
Bottom Line Recommendation:
Gold prices are currently at their highest levels since 2013. If you have old gold jewelry or gold bullion, selling it can be a great way to get cash immediately while taking advantage of todays high gold prices.
There are plenty of different places to sell gold, not all of which are equally good. The best way to sell your gold is online through a reputable buyer, as youll get a better price than you would selling through a local pawn shop or jewelry store.
For gold wedding bands, engagement rings and other gold jewelry, we recommend selling to Abe Mor Diamond Cutters. Theyll almost always offer the best price for your gold, with a fast, friendly process thats free of any hard-sell sales tactics.
Below, weve provided more information about selling gold locally and online below, including our recommendations to help you get the best possible deal.
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Consider Having Your Stuff Appraised
If you have a large collection or some items that you feel may be high value, it can be a good idea to get your stuff appraised before you sell it.
Sure, this may cost you a little more upfront. But your items like jewelry may be worth more than its weight when you factor in things like artistic value, embedded gems, and workmanship. Getting your items appraised can help you to determine whether youll get more money for your piece as a whole.
Plus, its a good way to get a more exact figure for what your stuff is actually worth.
A Full Service Shop With Custom Design Capabilities
We can repair almost all gold, silver, and platinum jewelry in our full service shop. Whether it’s a broken prong, a ring sizing, watch battery, or a restoration of a family heirloom, we have decades of experience and knowledge to repair jewelry.
We can also custom design a piece of jewelry from scratch or using your ideas, gemstones, and gold, all from just a picture. Bring in a photo of a piece of jewelry you love, and we can get you an estimate to make if for you with your specifications.
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Selling Gold Jewelry For Cash: Takeaways
When youre looking to sell gold, the best place to sell is online. A brick and mortar jewelry store cant buy gold for the high prices that a website can.
My top tips for selling jewelry online? The best way to sell your gold for cash directly is to use cashforgoldusa.com, while the best auction site for your pieces is Worthy.com
Have you sold gold online or in a jewelry store before? Share your tips!
How Can I Tell If Gold Is Real
Before you try to sell your gold, youll want to know if your gold is real. If youre expecting a payday from selling gold, only to find that you dont have actual gold to sell, youll be sorely disappointed.
There are a few ways to determine whether your gold is real or fake.
One is to look for . Often, real gold jewelry is marked with its purity, usually on its clasps or the inner part of rings. It will be a number between 1 and 999 or 0K and 24K.
As a bonus, these markings indicate the purity of the gold, from 0 to 99.9%, or 0 karats to 24 karats.
These markings may be accompanied by a GF, GP, or GEP, standing for Gold Filled, Gold Plated, or Gold Electroplate respectively.
Another method is to see if yourgold floats. Authentic gold is quite heavy, so it will quickly sink in a bowl of water. If it floats, it is an imitation or fake gold.
Real gold is not magnetic. If you have a powerful magnet, see if it attracts your gold. If it does, the gold is impure or false. However, youll need a strong magnet for this test. Most kitchen magnets wont be enough.
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Do Bank Sell Gold Can You Sell Gold Coins/bars At A Bank
The first is to find a local bullion dealer, which may or may not be easy depending on your location and proximity to a large city. Bullion dealers offer a safe and cost-effective method to buy precious metals. The second local option is to buy physical bullion at the bank. You might have always assumed that your bank only worked with dollars and cents, but many banks also offer bullion services. You might ask yourself, does TD bank sell gold? Does Scotiabank sell gold? Yes, you can buy and sell gold coins and bars at the bank, including TD Bank and Scotiabank. TD Precious Metals and Scotiabank Precious Metals both offer convenient access to gold, silver, and platinum. Scotiabank is actually one of the worlds largest dealers in precious metals, and their history dates back over three centuries. They deal in bullion, coins, and Scotiabank bar products for personal investment or keepsake purposes and advertise that precious metals can be ordered through your local branch.
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.
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Selling Gold Jewelry And Coins Can Be Daunting With Hucksters Abounding Heres How To Avoid Being Scammed
Youve got some gold you want to sell. Some of your late aunts jewelry, maybe. Or your grandpas coin collection. Some old earrings that dont have partners anymore. Or a really hideous bracelet you never wear. You could use the cash much more than the knotted lump of old chains in your jewelry box. But selling gold can be intimidating.
We’re sure you’ve seen the signs promising quick cash for gold. What about an online buyer? Maybe you got a mail solicitation. Authorities warn about ripoffs, and knowing how to get a fair price in a volatile market is a challenge. But if you have some gold jewelry or coins or other gold you would rather cash in, there are ways to sell it safely and for the best price.
The key to this transaction is your comfort level and trust that the person youre selling to is reputable. So one of the first rules is to do your research and shop around.
What Alternatives Do You Have
Selling your jewelry for cash is not the only option you have if you want to get rid of an old item.
You can ask at the jewelry store if you could exchange your piece for a new one and pay in cash the difference in value.
You wont be able to get nearly as much as the jewelrys original price, but the store may offer you a better deal on the value of your old item if you are going to buy a new one there.
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How Much Do You Get For Selling Gold
Gold has set record prices in the past year at more than $2,000 per ounce, and at the current scrap gold rates, a typical wedding band will bring you between $100 and $300, depending on the weight and karat.
Where you sell your gold, what type of gold and whether you sell online or at a location near you also affect how much money you can get for your gold. Jewelry with diamonds and other precious gemstones will also bring more. Have diamonds? What you need to know about how to sell diamonds, and the best diamond buyers.
Use A Cash For Gold Calculator
Its always a good idea to use a cash for gold calculator to see what your gold is worth.
They have software that was created by the National Gold Market. You can get real time prices for gold, silver and platinum.
Just select the karat of your gold and weight. Itll tell you to the penny what your gold is worth.
This is a good tool to use when youre getting your quotes. If a buyer is undercutting you, move on.
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Sell Gold For Cash: 15 Tips On How To Get Rid Of Old Jewelry
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Weve all seen those commercials offering cash for gold. Thats because its a great idea. Why hold on to old jewelry when its doing nothing but collecting dust in your jewelry box?
Sure, you can drive around until you find a store where you can sell old jewelry. Or you can go online and find local stores where you can sell gold for cash.
Just like with everything else, there are smart ways and not so smart ways to sell gold for cash. You just have to know the tricks of the trade.
Thankfully, weve done all the hard work for you. Read on to find out the dos and donts of how to sell gold jewelry and earn that much needed extra cash.
Is It Better To Open Your Own Store Or To Sell On Other Sites
It depends on how much gold you have to sell and how much time you want to put in. Remember, your time could be spent doing other work that selling gold takes you away from.
For most people, selling gold on other sites is the better choice. It allows you to maximize your profit, in part by minimizing the amount of time and effort you have to put into the process.
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How Can You Tell If Gold Is Real
This actually applies to gold you already have, as well as gold youre considering as a purchase.
There are several possible ways to test gold to see if it is real. Because of golds unique properties, it is difficult to produce fake gold but that doesnt mean people dont try.
Gold is one of the densest metals on earth, meaning that any metal used to attempt to replicate gold will be much less compact. If you have gold bullion and coins of a purported certain weight, you can simply weigh and check the size of your bullion which is made to a set of specifications that make a reference point comparison relatively easy to do.
Another simple test is to use a magnet. Unlike most metals, gold is not magnetic, so a real gold bullion coin, bar, or piece of gold jewelry will not stick to a magnet. You will need to know if your pieces have other types of metals or not.
Gold also has a distinctive ping sound when it is struck. Precious metals will have a high-pitched ringing sound when struck, as opposed to base metals that will have a much shorter and duller sound.
You can also drag your gold over an unglazed ceramic plate applying slight pressure. If you see a gold mark on the ceramic once youve done this, then the gold is real. But if the mark is black then it is fake.
Different strengths of acid are available to test different carats, so gold that doesnt react to the acid is at least as pure as the carat rating suggested, if not higher.
Stay Away From We Buy Gold Outlets
Like pawn shops, the corner outlets announcing that We Buy Gold are the last places you want to go to sell gold jewelry. These stores are usually located near casinos or other high traffic areas where people need to get their hands on fast cash.
The store owners know this. This is why most of them are open 24-hours a day.
Good to Know:
We Buy Gold stores prey on people who dont know a lot about how to sell gold for cash. Theyll see you coming from a mile away.
Again, there are times when you dont have the luxury of time. If you live near a We Buy Gold store and have no other choice, do what youve got to do. But, if you have some time to research where to sell used jewelry, its time well spent.
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Whats The Best Way To Sell My Gold
You certainly are lacking for options when it comes to selling your gold. Pawnshops, local gold dealers and exchanges, jewelers, and a multitude of online gold and jewelry buying sites offer you a dizzying array of choices.
Taking all things into account, the best way to sell your gold is through a reputable and established online gold buyer that provides many advantages.
- The turnaround time has been flattened to just a few days instead of a week or longer which was the case not so long ago.
- Because online businesses are national or international, they have dealt with a lot more customers and in the age of the Internet, that means you can probably access more reviews and customer comments than ever before.
- Dont underestimate the convenience factor either. You can sell your gold from your home, instead of running around to local brokers who may or may not pan out for you.
- An online business will also have clear instructions and procedures, and automate much of the selling process, saving you even more time, and giving you the flexibility of selling 24/7.
- If youre worried about price fluctuations, know that many online brokers will lock in a price ahead of time for you. The mystery of how much youll receive will be removed.
With all of these advantages in mind, there is one online buyer weve found that stands above all the others.
Silver Jewelry & Flatware
Almost all mass produced silver jewelry, flatware and hollowware is sterling. silver silver that is alloyed with other non-precious metals. Most sterling is marked with the word sterling or 925, identifying it is 92.5% pure As with gold, sterling markings appear on the inside of ring or on the clasp of a necklace or bracelet. The 925 marking can also be found on most sterling flatware and hollowware.
Like gold, silver plated items hold no discernible silver value. Common silver plate markings include EPNS , German Silver, and Nickel Silver.
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