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Before You Sell Gold Jewelry for Cash

Everyone wants to earn cash fast, and there is no quicker way then selling old gold jewelry for money. But before you hand over your jewelry to a buyer, make sure you follow the instructions below so you can receive the maximum amount of cash for your jewelry.

Why do you want to sell? – It is a good idea to determine why you want to sell your gold jewelry for cash. Sometimes we need fast cash to pay for new things, pay bills, or have extra money for taxes. In this case, you want to get rid of jewelry that does not have much sentimental value. Items to sell would include single earrings and broken jewelry pieces. Some jewelry, such as heirlooms, probably should not be sold no matter how much you need cash. If a piece of jewelry is worth more than the metal it contains, its best to hold onto it or shop it around to antique dealers.

Get an Appraisal – When you figure out what you want to sell, it is good to get an appraisal from a third-party source. If you are only selling a few pieces then an appraisal might be overkill. If you have a handful of jewelry or more, then an appraisal from a 3rd-party source that is not looking to buy or sell jewelry can get you a lot more money. When you know how much your jewelry is actually worth in estimated resale and melt-down value, you are in a much better bargaining position. You will also know the accuracy of the karat markings on your jewelry.

Check the Gold Price Daily – Gold prices change constantly, since gold is exchanged on the open market. When selling gold, you will always earn more money when the price of gold is high. Over the past few months, the price of gold has hovered over $1,100 per ounce, which means gold prices have never been higher and now is a great time to sell gold. Remember that the actual price of gold per ounce does not equate to the amount of money you receive. The price of gold should only be used as a reference.

You can check gold prices live at BullionVault.com

Get more than one quote– The prices that companies will pay for your scrap gold and jewelry will vary widely. Pawn shops, online gold buyers, and jewelers will pay you different amounts for the same amount of jewelry, because it all depends on what these companies specialize in. For example, if you sell to a jewelry store you may receive more money, but it will be in the form of store credit.

Review the Buyer – While researching buyers for selling your gold, make sure you can trust the company to receive good customer service. Companies like Cash4Gold specialize in customer service, and have a very strong reputation. If you sell to a jewelry store, then look up their reviews online.

There are many knock off companies on the internet that will simply take your gold and disappear. If you go the online route, then make sure the company you are dealing with will stick around.

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Posted in Sell Gold Online