Online Metal Trading Guide A guide about trading precious metals online plus tips & tricks

How To Sell Gold Jewelry

The value of gold has been rising in the recent years. This is why many people became interested in selling gold or investing in it. We can find thousands of online companies who are more then willing to buy gold, because this it’s a very profitable business especially in times of economic downturn.

Buying or selling gold jewelry is another good form of investing in gold because of their monetary and esthetic value. Gold jewelries such as bracelets, necklaces, earrings, pendants and rings have always been desired. Are valuable not only because of the artful design but because of their considerable high price.

There are few things that you should know before you decide to sell your gold jewelries. Before you chose a buyer you have to be aware of what you are trying to sell. If you don’t know the value of the jewelry piece you own you can get scammed by the buyer.

In order to avoid scam artists, firstly you have to weight, to find out the karats and the current spot gold price. Gold jewelries usually have a karat stamp on them. For example ear rings have inscription on the back side, a ring on the inside, a bracelet or necklace on the little clip where it gets closed. If you don’t find any kind of inscription go to a jewelry store and get it tested, because usually the gold jewelries that have no karat inscription are not made of gold or the gold content is 10 karats and legally that can’t be sold as gold.

The current spot price can be found online, and when you know the weight and karat of the gold jewelry you can use an online gold value calculator in order to find out the market value of the jewelry piece.

When you deal with gold jewelry it is important to know that the gold price is set for pure gold (24 karat) and gold jewelries often have a lower karat value because they contain other metals and hardening agents. If your gold has less then 24 karats the price you will get will be lower then the current spot price. But the online gold value calculator will help you to make an idea about the real value of your gold jewelry.

Where to sell gold jewelry

On most places you can sell your gold jewelry as scrap gold. If the jewelry piece is old and broken you can only sell it as scrap gold, which means that it will be paid based on the karat, weight and current spot price. Most of the buyers will pay between 70%-90% of the market value.

If you cut out the middleman and you sell it directly to a refiner the price you can get can be more close to the market value. The pawn shop and jewelry store owners are considerer middlemen. They will buy your unwanted gold and sell it to a refiner making profit this way.

A good place where you can sell your unwanted gold jewelry as scrap gold is online. There are so many online gold buyers out there and many of them are refiners.

It can be risky however because you have to mail your gold to them and wait until they mail you back a check with the promised amount of money. But if you read reviews about these online gold companies you can pretty much make an idea about which is a reputable company and which is a scam. Also if they offer you an online gold value calculator, gold kit envelope, insurance and guarantee you have nothing to worry about.

The gold jewelry should not be sold as scrap gold if it is a nice and well crafted piece. A craftsmanship’s work worth’s more then the value of gold in weight. Also an antique piece, like a nice pair of earrings or a wedding ring passed from a generation to the other worth’s more if you sell it as a piece and not as scrap gold.

To sell a nice and well crafted piece of jewelry it is a little harder because most of the buyers will want to pay the scrap gold value. You have to be patient and find someone who will pay the art value of it. Some cash for gold companies may be willing to pay for the art value too. You have to send a picture of the piece and get it appraised on as many places as you can. You will be surprised to see how the price can differ from one buyer to other.

Other places where you could sell gold jewelry are sites like eBay. It would be good to check out how much money would offer a local jewelry shop.