Whether it’s some gold jewelry you don’t need anymore, want to upgrade your collection, or want some cash to solve some financial difficulties, you can always resell your gold and get its worth in cash. But selling gold comes with its hurdles, especially if you want to get the most value out of it. You have to ensure what you are getting back is worth parting with your precious gold jewelry. But worry not. Here are some tips for you.
Don’t sell your gold impulsively.
Ensure you carefully evaluate your gold jewelry before selling it. You don’t want to act impulsively and later realize that you sold it for less than it is actually worth. Many people have some emotional value on their gold jewelry, so you need to ensure that it does not outweigh the price you sell it for. Gold jewelry with a missing pair, broken pieces, and outdated ones with no emotional attachment are ideal pieces to sell.
Get an appraisal
Do not just look at your gold jewelry and assume its price. The best way to know how much your gold jewelry is worth is to get an appraisal from a reputable gold exchange. Whether it is an antique or intricate piece of gold jewelry, you should have it appraised by a professional rather than selling it blindly.
Understand the karat of your gold jewelry
Pure gold is usually very soft, so it is often combined with other metals like copper, silver, and nickel to make it more durable when making jewelry. The gold’s karat refers to the ratio of pure gold to alloy metals in the piece. Most of the original gold jewelry is stamped with a number that connotes its karat weight. The higher the karat or the purer your gold is, the more value it has. So you should know the karat of your gold jewelry to ensure you sell it for its worth.
Is it worth it as a finished piece or scrap gold?
If you want to sell gold jewelry, there is one thing you need to determine before selling it. Ask yourself is worth it as a whole piece or selling it as scrap gold will give you more money? Note that designer, antique, vintage, or unique gold jewelry can sell for more than the pure gold used to make the piece. But worn-out pieces will earn you more if you scrap them for gold. By having your item appraised by a trusted jeweler, you can make an informed choice on how to sell it. Also, keep in mind that when selling the item as gold, you will only be paid for the parts that are pure gold.
Find a trustworthy and reputable buyer
Look for a reputable buyer or company that is licensed to buy gold jewelry in your state. You can shop around and get bids from several companies to identify one that offers you good value. Also, check reviews to see if the company has any complaints from customers regarding buying and selling jewelry.
Protect yourself before leaving your house with gold jewelry or ensure safety when shipping it to a potential buyer.
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