If you've got gold jewelry that you don't particularly like or wear, you can sell it for a little extra cash. How much you'll get will depend on the type of jewelry you have, how much gold it contains and who you sell it to. Regardless, you won't get the same amount you paid for the item, as these gold buyers are paying for only the gold, not the design of the jewelry or, in most cases, any gemstones it may contain.
Many local jewelers will purchase jewelry, especially if it is still relatively fashionable or contains valuable gemstones. Some may only offer you store credit instead of cash or let you trade the jewelry for something you like better in the shop, however. Check a few local shops on the same day to see who will give you the best price. The price for gold varies day by day, so it isn't really a fair comparison if you shop around through a period of days.
Gold Refiners, Mail-Away Operations and Gold Parties
All of these options are buying the jewelry solely to melt down the gold for reuse. They may not pay as much as a jeweler, who sometimes plans to resell the jewelry as-is or reuse the stones as well as the gold. To figure out an estimate of what your gold is worth, you'll need to figure out how many ounces of gold you have and the current price of gold. Keep in mind that only 24 karat gold is considered pure, so an 18 karat gold piece of jewelry is only about 75 percent gold. These buyers will typically give you only a portion of the scrap value of the gold, keeping as much as 30 percent for themselves, as they need to make a profit as well.
Another option is a pawn shop, which can be a good choice if you might want the jewelry back and only have a temporary need for cash. These shops need to report any gold pawned to the police, along with the identity of who pawned it, so expect to get asked for your ID. This is to help prevent the sale of stolen goods.
eBay and Other Online Sales Sites
If you have a very fashionable piece of jewelry and you aren't happy with what any of the other potential buyers are offering for your jewelry, another option is to sell it online. Because there's no middleman, you may be able to get a higher price.
For further information contact a local gold buyer, like Ed's Coins.Share