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.
List Of Gold Items We Buy For Cash
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.
How Is Gold Bullion Different From Other Forms Of Gold
In general terms, bullion can be used to describe other precious metals like platinum or silver. Bullion can come in bars, ingots, and coins. It is never traded in a futures market. Bullion is always traded for actual amounts of physical quantities.
Gold bullion is a recognized weight and fineness that you can buy for the current price of gold, plus some added charges for refining, fabricating and shipping the bullion to you.
The bullion content of a gold object is usually measured by multiplying the weight of the object in troy ounces by the purity of the gold in that object. For example, a 1-ounce gold bar with a .9999 purity rating would contain one troy ounce of 99.99 percent pure gold bullion.
Most of the worlds bullion is owned by governments and central banks and stored in 400-ounce troy bars. Smaller quantities are also available for purchase by individual investors. The problem with buying or selling gold bullion as an asset is that it can be costly to liquidate after you remove it from storage.
There may be assay, refining or handling fees involved if you are dealing with larger quantities. Its much easier to sell gold bullion in smaller, more convenient and tradable sizes.
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Option : Post Your Gold For Sale On Social Media
Websites like Facebook host buying and selling groups. Some of these are specific to precious metals, like the Gold and Silver Forum on Facebook, while others focus on selling unwanted items in local communities.
These groups are often private, so you will need to request to join before you can post your item to buy.
Lastly Calculate The Value Of Gold Jewelry
Ready to find out what your gold jewelry is worth? Now that youve done all the legwork, the rest is just plugging in numbers into a gold calculator or formula. Either use a gold value calculator online, or insert your values into the equation below:
Weight of gold jewelry x gold purity / 24 = Grams of pure gold
Lets break down each part of that equation to help you better understand what each value means:
Weight of gold jewelry: the weight in grams of your gold jewelry item. Example: you have a piece of gold jewelry that weighs 5 grams.
Gold purity: To accurately value your gold jewelry, you need to know how much pure gold is in each item. To calculate this variable, remember that 24 Karat gold is pure gold, and each karat value smaller will contain less increments of pure gold.
Example: You have 5 grams of 18k gold.
24: You are dividing by 100% of pure gold, which is 24 karats.
If we plug each figure into the equation, it looks like this:
5 x 18 / 24 = 3.75
If you have 5 grams of 18k gold jewelry, then you own 3.75 grams of pure gold. Not too complex is it? Once you break down what each value means, you can see how karatage, weight and purity determine the overall value of your gold.
Now, what can you do with this information? You know how many grams of pure gold you have in each jewelry piece, but how do you put a price on that?
Youll now need to research the…
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In 3 Quick Steps Sell Your Gold From Home With Peace Of Mind
With over 50 years’ experience, our team of expert appraisers will carefully examine and test your gold, jewelry, diamond, silver and platinum using our cutting-edge technology to determine its value. Your item will also be evaluated on the following:
- The current day’s gold price
- If your item contains precious metal
- The weight of the precious metal
- The purity of the precious metal
- Any specific item characteristics
- How much precious metal you send us
The combination of these specifications will help us calculate your offer. Accept your offer using our express payment option to get paid in less than 24 hours. If you are not happy with your offer, we will gladly return your items free of charge, no questions asked. Our customer’s satisfaction is 100% guaranteed.
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.
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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.
Selling Your Gold Through Worthycom
Worthy.com is an online marketplace where anyone can list an item of jewelry and jewelry buyers can bid on it.
In theory this sounds great, and for the right pieces of jewelry, it can be. If you have jewelry from a luxury brand like Tiffany & Co, Van Cleef & Arpels, Cartier or Bvlgari then they are a great fit for you.
Worthy can put you in touch with a large number of jewelry buyers who are specifically looking for these high-end items. They are interested in them as jewelry, rather than just the gold value.
If your jewelry doesnt have one of these brand names attached to it then Worthy.com probably isnt the right fit for you.
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How Can I Be Successful In Selling Jewelry Online
Selling online can be risky, as it will usually require you to ship your gold before you get paid. But following these tips can ensure your success.
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.
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Get The Best Price For Gold And Silver
Youll find current gold and silver spot prices online, but only institutional sellers get the spot price. Why? Companies that buy your bullion or jewelry pay for advertising, overhead, melting jewelry, etc. and they have to make a profit so they buy below spot.
Many sources, including the Kiplinger article mentioned above, suggest that you should aim to get 90 to 95% of the spot price when selling gold and silver bars or coins, and 70 to 80% of melt value for jewelry and other items.
How Much Does Gold Sell For
Gold prices are at a 7-year high. As of September 13, 2021, the gold melt price in the USA was at a near-record price of $1790.90 per ounce, or $57.59 per gram. Gold prices have been near record highs and are poised to go up, as historically, gold prices have increased when the stock market goes down.
You likely have some gold sitting around. Maybe it is old jewelry that you no longer like, or perhaps it was a gift from someone you have negative feelings about. Perhaps you have some old gold coins you inherited, or even gold dental work sitting in the back of a drawer!
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Can I Sell Gold Jewelry
Yes, its possible to sell gold jewelry. If you do choose to sell gold jewelry, youll need to decide whether youre trying to sell it as jewelry or as gold, as this will impact your options when looking for a buyer.
If you want to sell your jewelry as jewelry, youll want to look to jewelers, pawn shops, or a way to sell to other consumers, such as through eBay or Craigslist.
If the jewelry is old, you might also have luck selling it to a person or shop that focuses on antique goods.
Selling jewelry as jewelry is usually best if it has some historical or artistic value. A plain gold necklace will be worth less than a well-preserved, hundred-year-old necklace that contains the same quantity of gold because the old necklace has historical significance.
If you want to sell your jewelry for the value of the gold it consists of, youll want to focus on selling to gold dealers or other companies that specialize in dealing with precious metals.
With these buyers, the value of your jewelry will be tied to the amount of gold it contains. Jewelry with higher purity gold will be worth more by weight than jewelry with lower purity gold.
Get The Highest Offers For Your Gold
We know getting the most Cash for Gold is your top priority when looking to sell your unused gold. At sellyourgold.com we pride ourselves in providing the highest payouts for your gold, silver, platinum and diamonds.
How can we get you the most cash for your gold? We do not have a store front location so unlike jewelry stores or pawn shops we don’t have to worry about retail overhead costs, paying store employees or other cost that go into running a store front business.
We guarantee the highest offers so much so that if you’re able to find a higher offer from any competitor, we will match it. Start getting cash for your gold today!
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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.
Best Place To Sell Your Gold
There are many places you can sell your gold, and which you chose can depend on what type of gold you are and how much of a rush you are in to sell:
Pawnbroker Selling to a jeweler Selling to a dedicated gold buyer
A key thing to know is that the more keen you are to sell quickly, the lower the price you are likely to get for your gold.
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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.
Current Gold Market Value
Worldwide, there is an agreed market value for gold, just like there is for oil and other commodities that can be bought and sold. This price is known as the spot price.
Incredibly, this market price is determined twice a day by a conference call in London amongst 15 of the largest gold traders. This price, known as the London fix then determines that price across the rest of the globe.
Gold prices are traditionally given in a unit of measurement called troy weight. Its an archaic system with measurements that arent used in any other
- Pennyweight symbol dwt
- Troy ounce symbol oz t
- Troy pound
Because this is an old-fashioned system, you may not see it on websites when you search for gold price, but it is still featured on gold coins and gold bars.
The price you see online is usually on a per ounce basis.
Gold prices are currently rising
The good news if you are looking to sell gold is that gold prices are significantly higher than they were a year ago.
Gold has traditionally been seen as a safe haven for investors, so when there is uncertainty in the stock market and stock prices go down, the price of gold usually goes up.
Were seeing this at the moment, and if you look at the live price of gold in the graph below, you can see that its around 30% higher than this time last year. If you have gold to sell, this is obviously great news!
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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 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
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Why Is Gold So Valuable
It may seem strange that gold is so expensive. It looks nice, but why is there a broad agreement that gold should be costly?
One reason for golds high value is its history. Gold has been a common system of money throughout human history. Many currencies, including the US dollar, originally had their value tied to that value of gold.
At one point, you could even redeem your paper currency for gold with the government.
As paper currencies have experience inflation, deflation, and wild volatility, gold has retained its value.
While its price does change, many people see it as a stable asset and hedge against uncertainty. This perception and the fact that gold has been so popular for so long help give it value.
The law of supply and demand dictates that the price of scarce things be relatively high. Gold is a limited resource. Theres only so much of it, and its hard to find more.
The days of gold rushes and panning for gold are over, so most gold is extracted through expensive mining operations.
This limited supply and the difficulty of mining more gold makes gold valuable.