Where to Sell Gold Jewelry
With the financial disaster that is the current economy, a lot of people are looking to make some extra income one way or another. An easy way to make some extra cash that I personally recommend to my friends is to sell your old gold jewelry or scrap gold. Well of course when I do recommend this I always get asked, "Where do I sell my gold jewelry"?
Jewelers or Pawn Brokers
Your local jeweler or pawn broker will buy your gold rings, gold necklaces, or gold bracelets for part of their retail value. Get your jewelry appraised at different shops to find the best price you can get. Generally, jewelry stores will give a better price than pawnshops will but only if you have an antique or well crafted piece.
A karat is the system that is used to determine the amount of pure gold found in an item. 24 karats is the highest value, i.e. pure gold. Usually the karats are inscribed somewhere on your gold like on the inside of the band of a ring, bracelet, or earring or on the clip of a necklace.
Selling your gold jewelry to a jeweler or pawnbroker is your best choice if your jewelry is antique or well crafted. Selling to a gold refiner or gold dealer will only get you scrap value for your gold jewelry which won't compare to the retail value you can get from more valuable pieces. Of course not all old jewelry has that kind of value.
Gold Refiners or Scrap Gold Dealers
You can also find local gold refiners and dealers in the yellow pages or online. Jewelry with very little resale value or under 14 karats is the type of jewelry to sell to a scrap gold dealer or refiner. Items like class rings, bracelets, heavy gold chains, plain wedding bands are perfect examples. The scrap value is only the gold itself and doesn't consider any craftsmanship or aesthetic value.
Make sure that you get your gold jewelry appraised at multiple locations so you have a ballpark figure of the value of the piece before you sell your jewelry. You won't be able to get ripped off as easily. Many online gold refiners and scrap dealers will give you an offer that is lower than actual value. You can try a few other places to sell you gold jewelry if you want, like online auctions, but the two options below are the best choices in this writer's opinion.
Jewelers or Pawn Brokers
Your local jeweler or pawn broker will buy your gold rings, gold necklaces, or gold bracelets for part of their retail value. Get your jewelry appraised at different shops to find the best price you can get. Generally, jewelry stores will give a better price than pawnshops will but only if you have an antique or well crafted piece.
A karat is the system that is used to determine the amount of pure gold found in an item. 24 karats is the highest value, i.e. pure gold. Usually the karats are inscribed somewhere on your gold like on the inside of the band of a ring, bracelet, or earring or on the clip of a necklace.
Selling your gold jewelry to a jeweler or pawnbroker is your best choice if your jewelry is antique or well crafted. Selling to a gold refiner or gold dealer will only get you scrap value for your gold jewelry which won't compare to the retail value you can get from more valuable pieces. Of course not all old jewelry has that kind of value.
Gold Refiners or Scrap Gold Dealers
You can also find local gold refiners and dealers in the yellow pages or online. Jewelry with very little resale value or under 14 karats is the type of jewelry to sell to a scrap gold dealer or refiner. Items like class rings, bracelets, heavy gold chains, plain wedding bands are perfect examples. The scrap value is only the gold itself and doesn't consider any craftsmanship or aesthetic value.
Make sure that you get your gold jewelry appraised at multiple locations so you have a ballpark figure of the value of the piece before you sell your jewelry. You won't be able to get ripped off as easily. Many online gold refiners and scrap dealers will give you an offer that is lower than actual value. You can try a few other places to sell you gold jewelry if you want, like online auctions, but the two options below are the best choices in this writer's opinion.
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