The best jewelry to trade in this way are the ones that have zero resale worth as jewelry, such as old class rings (pop off the gem), used plain wedding bands from an ex, or tossed out dental gold.

There may be some number valued jewellery at the nethermost region 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 endeavors be worth your time? To work out how much your items are worth, without compensating an appraiser $50 to $200 per hour, utilise these guidelines about gold prices:

First Of All, look for the karat stamp of your gold. And Then, check goldprice.org to check today's price for a troy ounce (31.1 grams) of 24 karat pure gold. If your item is less than 24 karat, discount it proportionately. 18 karat is valued at 75%, 14 karat is priced at 58.3%, 10 karat is 41.7%.

Then subtract 10-20% for the refining fees, and add whatever profit the middleman purchaser needs from reselling it.

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

How can you line up a scrap gold buyer who is not only honest, but will pay you the most acceptable price for your gold or other precious metals?

Many people will not consider where to sell jewellery a lot, and will just drive to the closest pawn shop to see how much immediate payment they can pull in when they're interested in selling scrap gold.

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

Since gold values are at a record breaking high level, and the amount of individuals who want to find cash speedily is rising every day, several companies have come along to attempt to cash in on this tendency. Numerous of these companies prey upon the everyday person's ignorance of the actual worth of their gold.

Regardless of who you sell your scrap gold to, it has to end up with a precious metal refiner. They own the equipment and permits to purify the gold and recycle it into gold bars suitable for industrial use.

So to take in the most cash, it's advisable to cut out the pawn shop or different middleman, and sell directly to a time-tested 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. Be sure to fill in your thorough description of what you're sending. Photocopy your description, and take a photograph of the pieces you're sending off. Don't forget to take out gems and any non-gold pieces that are of value to you.

The company utilizes non-damaging tests to specify the day's market price of your jewellery.

The most reputable companies phone you with their offer first off, and if you agree with their terms send you a check or direct deposit your money right away. If you're not happy with the bid, they'll return ship (insured) your jewelry at their expense.