Friday, July 12, 2024

Where To Sell Gold Jewelry

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What Is Gold Filled

How to Sell Gold Jewelry

Gold-filled jewelry is constructed in two or three layers: The core metal is brass, and a gold alloy is then bonded to one or both surfaces of the brass core with heat and pressure. Gold-filled jewelry contains a much thicker layer of gold than plated or vermeil items and will hold up better with wear comparatively.

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.

Use These Seven Nuggets Of Advice To Ensure You Get The Best Deal When Selling Gold Jewellery

Selling unwanted gold can be a quick way to earn some extra cash, but getting the best deal isnt always easy.

There are plenty of specialist cash-for-gold companies to choose from, but these may not offer you the best price.

Selling gold to a high street jeweller or through an online trading website such as eBay may take more time, but its likely youll be offered more money.

Take a look at these tips to ensure you get the best deal when selling gold jewellery.

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Cash For Golds Price For Gold Calculator

If you know some of the details of the gold you have to sell, you can get a fairly accurate idea of how much you might get paid by Cash for Gold USA.

The front page of the website has a gold calculator so that you can get an estimate based on todays price of gold on the spot market. Its about 2/3rds of the way down on the right side. See it outlined in red below:

If you know the weight and karats of your gold, you can get an instant price . Of course, the price is not binding and does not reflect the actual payout. Youll have to submit your gold for an actual appraisal before a dollar amount can be locked in.

How Pure Is Raw Gold

Sell 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.

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How To Sell Gold Jewelry For Cash Near You

Theres no doubt that Indians are one of the biggest consumers of Gold. Indian households are believed to have accumulated an astonishing 25,000 tonnes of Gold whose value would be approximately equivalent to 40% of Indias GDP in 2019. Indian families tend to hold Gold for many decades and also pass them on to the next generation. There is not only an emotional attachment to the yellow metal but also a tremendous appreciation for its quality as a dependable asset. One may also sell Gold for cash whenever there is a need to do so.

While selling Gold Jewellery, some of the most important factors to consider are Gold value and the trustworthiness of the place to sell your Gold. Even after having many dealers who buy Gold, people are not certain when the question where to sell Gold arises.

Are you searching cash for Gold near me on the internet but not getting any promising results? Dont worry! Now it is easy to sell Gold jewellery with Muthoot Gold Point. We have 11 branches spread across India and mobile vans in Mumbai which are well equipped with modern ultrasonic and XRF machines. Search cash for Gold near me to find any of our offices in India. For example, people residing in Delhi can find us at our branch located in Karol Bagh. And, you can walk-in to any of our branches located in Bangalore, Chennai, Ahmedabad, Coimbatore, Delhi, Hyderabad, Kolkata, Mumbai& Vijayawada and sell Gold to get instant cash.

Price Of Gold Calculator

First, you want to know how much you will get when you sell your gold. Check the price of your gold scrap, gold jewelry, 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.

Check the price of gold here:

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.

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.

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.

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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.

How Gold Prices Work

How To Sell Gold Jewelry

Gold is priced according to its weight, with prices normally provided for one gram, one ounce and one kilogram of pure gold.

For example, the current price of gold is $61.87 per gram, $1,924.27 per ounce and $61,837.62 per kilogram. As with other commodities, the price of gold changes often, making it important to check the latest rates if youd like to buy or sell gold.

Unless otherwise noted, the price of gold refers to 24k gold, or pure gold, which consists of 99.99% pure gold. If you know what karat gold you have, you can use the gold price calculator below this paragraph. To use it, type in an items weight, then select its karatage. The calculator will provide an estimate for the items value should you decide to send it in for appraisal.

Pure 24k gold has an intense orange color and is quite soft and malleable. Its the type of gold thats used for investment grade coins and gold bars . Because its soft and bright in color, 24k gold isnt used for jewelry.

Instead, less pure forms of gold, such as 10k, 14k and 18k gold, are commonly used for rings, earrings, bracelets, watches and other gold jewelry. Weve explained how 24k gold differs from the gold commonly used in jewelry in our detailed guide to gold types.

Luckily, this doesnt mean that you cant sell 10k, 14k, 18k or 22k gold. If you want to sell these types of gold , the price youll get in exchange will be based on the pure gold content that can be extracted from the item after its melted and refined.

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When Is The Best Time To Sell Gold

The best time to sell gold is when the spot price of gold is high and youre comfortable with the idea of selling your gold coins, jewelry, bullion or other gold items.

Gold, like other commodities, constantly fluctuates in value. Like the stock market, working out whether the price of gold will increase or decrease isnt easy, and beating the market for gold is something that even the savviest investors struggle to do with any consistency.

If you have a significant amount of gold and want to sell at the best possible time, you can use gold forecasts and analyses to stay on top of market trends. These can offer useful information on gold prices, but like anything else market-related, their predictions arent always perfect.

Because of this, its best to sell gold when you need cash, and when you feel that the price of gold is at a high enough point for you to justify parting with your gold items.

Sell Your Gold For Instant Cash At Muthoot Gold Point

Muthoot Gold Point offers safe, transparent & scientifically tested ways of buying your Gold.

We give you an unparalleled experience of selling your old Gold for instant cash. Our 11 state of the art branches across India and mobile van are equipped with the latest ultrasonic and XRF machines to clean your Gold for free and check its accurate weight & purity. Not just the process is transparent, rates at which we buy your Gold are as per the market rates.

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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.

How Much Is My Item Worth

Sell Gold Jewelry

This depends on many factors. Rare and collectible items, particularly vintage and antique items, are often worth more than their weight in gold! Bring your items to one of our two locations and we’ll give you the highest price.

Expert tip: To get the best price for your gold jewelry, bring in the original packaging and paperwork. Everyone loves to get jewelry in the original box!

Also Check: What Is Vermeil Gold Plated

What To Expect When Selling Your Old Jewelry

Another way to make some cash is to sell your jewelry for its scrap value. This means youre selling it only for value of its materials. It will be disassembled and melted down into a bullion. This is the easiest way to sell your jewelry. To do this you have to go to a gold buying store with your jewelry or mail them off. They will usually make you an offer immediately. Here is a quick rundown of what returns you might see depending on the market from Bob Frick at Kiplinger:

When you sell gold coins or bars, you should expect to receive at least 90% to 95% of the current market value. But with gold jewelry, youre likely to get only 70% to 80% of the melt value. The difference reflects the dealers profit, plus the cost of melting and refining your gold and turning it into new gold jewelry or bullion.

You should know what kind of scrap value youre working with before you do this. You should bring your gold and silver items to a local metal buyer for appraisal first and it up to you decide to sell it there or not suggested Steve Gillman at The Penny Hoarder. If they make you an offer you still have the option to shop around for the best deal.

The American Gem Society offers some simple steps if you want to determine the scarp value on your own:

  • Look up todays spot value in the newspaper or internet. This will be quoted in $ per ounce.
  • Determine the items weight . Pennyweights and grams are both used in the trade. Re-figure spot gold per dwt or per gram.
  • Should I Have An Appraisal Done Before Trying To Sell My Gold

    Yes. The more due diligence you can undertake, the more likely it is that you will get as much as possible when you actually sell your gold.

    Although no paperwork is required when selling your gold, if you have had an appraisal done, be sure to bring it with you to support your ability to negotiate with a dealer.

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    Know The Jewelry Details

    You should know as much about the jewelry youre trying to sell as possible. The more details you know, the better idea youll have of the material and market value of your jewelry.

    Pay attention to these appraisal details:

  • Diamond carat size, cut, color and clarity
  • Gold karat rating and weight
  • Jewelry manufacturer
  • Know if the material is natural or artificial
  • Option : Look For Reputable Online Dealers

    How to Sell Gold Jewelry Tips

    Using a reputable dealer on the internet is one of the safest ways to sell precious metals online. Its also one of the best ways overall to get a competitive price.

    For gold, CashForGoldUSA is the best choice, while CashForSilverUSA is the best choice to sell silver. These sites also deal in platinum items, so they can be a good choice if you have a mixture of gold, silver, and/or platinum to sell.

    On these sites, you fill out a brief form. This gives your preferred shipping method and your contact information. Then, youll receive an envelope to send your gold or silver item into the company. These are insured.

    Once the dealer receives your items, theyll make you an offer by email within 24 hours. If you accept it, youll get to choose a payment option . Otherwise, the sites will return your items to you for free.

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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.

    The Best Places To Sell Gold For Cash

    Working out where to sell gold can be confusing. Like with many things in life, the most visible and heavily advertised options particularly local gold buying kiosks arent always the best place to sell if youre looking to get a fair deal.

    There are three main places to sell gold reputable online gold buyers, bullion pawn shops and local jewelers. We generally recommend selling online if youre looking for the highest possible price for your gold, although each option offers its own range of advantages and disadvantages.

    Below, weve gone into more detail about how each of these options works, as well as the main pros and cons offered by each one. Click any of the links below to jump straight to that section:

    Read Also: How Much Is 12 Grams Of Gold Worth

    How To Sell Gold Coins Gold Bullion And Gold Bars

    You might be wondering if theres any difference between selling scrap gold, gold plated jewelry, or other forms of gold, as opposed to selling gold coins, bullion, or bars.

    The short answer is no.

    Buyers are more concerned with the qualities of the gold youre selling than what form youre selling. To them, it all comes down to melt weight and purity.

    Of course, the exception here is if youre selling forms of gold that have numismatic value, such as rare coins, antique gold jewelry, and so forth.

    But for the vast majority of gold, your best bet is to start with Cash for Gold USA.

    Is Now A Good Time To Sell Gold

    Sell Gold to Gold

    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, dental scrap 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!

    Two facts:

  • When the stock market and other economic factors are down, historically gold prices have been steady and strong. This is no exception. Gold has been at record high prices for all of 2020, with no signs of significant drops.
  • If you do not enjoy your gold jewelry or coins, and need the money, now is an excellent time to sell gold bullion, coins, scrap or jewelry.
  • 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.

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