How to Sell Gold Jewelry in St. Louis
- 1). Calculate the base value of your gold jewelry. Use a digital scale to find out precisely how many grams your gold jewelry weighs. You can get the spot price of gold from the Kitco website. Spot price is usually measured by the troy ounce, so simply divide by 31.103 to identify the spot price per gram of gold. Once you multiply the spot price by the number of grams your gold weighs, you will know the approximate melt value of the gold, which is the absolute lowest price you should consider selling your jewelry for.
- 2). Place a classified advertisement in the local newspaper. You will normally get a higher price for your gold jewelry if you sell it to an individual rather than a business, so your first effort should be to attempt to find a private buyer for your jewelry. Both the "St. Louis Post-Dispatch" and the "St. Louis Riverfront Times" offer sections in the classified ads where you can post an announcement about items for sale.
- 3). Post a copy of your ad on the Craigslist website. This is the same as having a classified ad in the newspaper. The main difference is that Craigslist is absolutely free, so you really have nothing to lose by posting a copy of your ad there. There is a specific section on Craigslist that is dedicated entirely to St. Louis and within that section is an area to post ads about jewelry for sale.
- 4). Sell your gold jewelry to one of the many jewelry stores in St. Louis. If your jewelry is in good condition, many jewelers will offer to buy it from you for resale purposes. If their inventory is full or they are not sure how easy they can resell your particular items, they may offer to sell your jewelry on a consignment basis and collect a commission when it sells. Bring your items to jewelers and see what they say. Some of the St. Louis jewelry stores you can visit are Hamilton Jewelers at 314-241-5653, Vinciguerra Jewelry at 314-421-1488 and Neustaedter's Fine Jewelry at 314-842-0595.
- 5). Take your gold jewelry to a pawn shop. Pawn shops are usually the first place people go when they want to sell their jewelry, but these locations should really be reserved until all other options have been explored. Pawn shops are great because you can walk in the door with something to sell and walk out with cash in your pocket. The problem is that they typically try to offer a ridiculously low rate for your gold, and it takes a keen negotiator to walk out of the pawn shop with a good offer. Still, it doesn't hurt to give your bartering skills a shot. Some of the better pawn shops in St. Louis include First Cash Pawn at 314-367-6000, AC Pawn Shop at 314-771-1700 and Lee's Pawn & Jewelry at 314-531-0200.
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