The optimal jewellery to trade in this way are the ones that possess zero resale value as jewelry, like old class rings (take out the stone), used garden-variety wedding bands from an ex, or tossed out dental gold.

There may be any number valued pieces at the bottom of your jewelry boxes and dresser drawers. Maybe you forgot you possess them! A unmatched earring, broken chain, or even tired sterling silver flatware.

Will your trading scrap gold efforts a worthwhile way to spend your time? To figure out how much your pieces are worth, without giving an appraiser $50 to $200 per hour, apply these rules of thumb for gold prices:

First Off, search for the karat impression of your gold. Then, go to goldprice.org to see today's monetary value for a troy ounce (31.1 grams) of 24 karat pure gold. If your jewelry is less than 24 karat, discount it proportionately. 18 karat is priced at 75%, 14 karat is valued at 58.3%, 10 karat is 41.7%.

Now take off 10-20% for the refinement costs, plus whatever net income the middleman buyer requires from reselling it.

To give you a approximate idea: when gold prices were recently at their all time historic high-level of $1,160 an ounce, you may have obtained approximately $85 for a 14K wedding ring.

How can you find a scrap gold buyer who is not only responsible, but will offer you the optimal price for your gold or other precious metals?

Many persons will not consider where to sell jewelry a lot, and will just go to the nearest pawn shop to find out how much cash they can receive when they're concerned with selling scrap gold.

Or they may answer a Television or newspaper advertisement from a local jewelry maker or national gold purchasing company.

Since gold costs are at a record breaking high level, and the number of people who desire to pull in cash quickly is increasing every day, several companies have emerged to try to cash in on this tendency. Many of these companies take advantage of the normal person's ignorance of the true value of their gold.

Irrespective of who you sell your scrap gold to, it needs to end up with a precious metal refinery. They have the equipment and licenses to purify the gold and recycle it into gold bars fit for industrialized use.

Therefore to receive the most cash, it's advisable to cut out the pawn shop or different middleman, and trade directly with a authentic refinery. They are not in the jewelry line of work or a go-between.

You can ask that they send out to you a postage paid, insured envelope that you can track online when you send it. Make sure to fill in your careful description of what you're shipping. Xerox your description, and snap a picture of the jewellery you're sending off. Don't forget to take off gems and any non-gold parts that are of value to you.

The company applies non-damaging examinations to assign the day's market price of your items.

The most honest companies telephone you with their bid first, and if you agree with their terms mail you a check or direct deposit your funds right away. If you're not happy with the number, they will return mail (insured) your jewellry at their expense.