Where To Sell Gold Jewelry?
First you need to realize how much gold is in your jewelry. Most dealers base their pricing solely by the scrap metal value of your gold so it is worthwhile to look at the gold marking to determine carat weight. In most countries by law, the carat stamp is a requirement on any gold jewelry to be sold in stores and it is the first indication of the gold content in any gold jewelry coming from a reputable seller. Most items in the North American market would be marked 10k, 14k, 18k to show the purity of gold in a particular piece of jewelry. European standard is different and it is measured in parts per thousand and would be stamped 416, 585, 750. I will discuss what that means below.
If you have gold filled jewelry, electroplated jewelry or gold plated jewelry then in most cases it would not be worth to try and sell them for the gold content and most dealers will refuse buying this type of jewelry. The most common stamps for such items are GF (gold filled), GP (gold plated) and finally EGP (electro gold plated)
Gold karats are expressed in units of 24ths. Thus, pure gold is 24-karat or 100 percent gold, 18-karat is 75 percent gold, 14-karat is 58.5 percent gold (585 european stamp), 10-karat is 41.6 percent gold (416) and so on. The conversion is simple; divide the karat value by 24 to get the percentage of gold, ex: 10/24=0.416 and so on. The price of gold which we all see on TV is based on a troy ounce which is approximately 31.1 grams of pure 24K gold in standard exchange form such as bars or coins. If you are selling gold bars or coins, the spot price is what you should be aiming at but keep in mind that any offer from a dealer will always be slightly less than market value since the dealer has to make a profit.
When selling gold there are a variety of different places to choose from. Here are some of the best places to get cash for gold.
Don't Even Think About It
First off, never consider a pawn shop. Pawn shops are used to paying well below market value for any item they purchase. They are accustomed to dealing with people who are in a hurry and will basically take anything they are offered. A Pawn shop will give you the least amount of money for your gold.
How To Sell Gold Jewelry
One option you always have is to use a jeweler. Jeweler are very accessible because there is one or more in every town. The one thing to consider is that a jeweler is used to paying wholesale prices for gold.
Also a jeweler will value your gold more for the jewelry piece than the weight of the gold. They are more likely to resell your jewelry so if you have a nice piece that may have added value for its appearance then you may consider using a jeweler. At the very least you may consider using a jeweler to get an appraisal on your gold pieces.
First you need to realize how much gold is in your jewelry. Most dealers base their pricing solely by the scrap metal value of your gold so it is worthwhile to look at the gold marking to determine carat weight. In most countries by law, the carat stamp is a requirement on any gold jewelry to be sold in stores and it is the first indication of the gold content in any gold jewelry coming from a reputable seller. Most items in the North American market would be marked 10k, 14k, 18k to show the purity of gold in a particular piece of jewelry. European standard is different and it is measured in parts per thousand and would be stamped 416, 585, 750. I will discuss what that means below.
If you have gold filled jewelry, electroplated jewelry or gold plated jewelry then in most cases it would not be worth to try and sell them for the gold content and most dealers will refuse buying this type of jewelry. The most common stamps for such items are GF (gold filled), GP (gold plated) and finally EGP (electro gold plated)
When selling gold there are a variety of different places to choose from. Here are some of the best places to get cash for gold.
Don't Even Think About It
First off, never consider a pawn shop. Pawn shops are used to paying well below market value for any item they purchase. They are accustomed to dealing with people who are in a hurry and will basically take anything they are offered. A Pawn shop will give you the least amount of money for your gold.
How To Sell Gold Jewelry
One option you always have is to use a jeweler. Jeweler are very accessible because there is one or more in every town. The one thing to consider is that a jeweler is used to paying wholesale prices for gold.
Also a jeweler will value your gold more for the jewelry piece than the weight of the gold. They are more likely to resell your jewelry so if you have a nice piece that may have added value for its appearance then you may consider using a jeweler. At the very least you may consider using a jeweler to get an appraisal on your gold pieces.
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