Selling Gold Jewelry

by where - Date: 2010-09-17 - Word Count: 546 Share This!

The optimal items to sell in this manner are the ones that possess zero resale worth as jewelry, such as hand-me-down class rings (pop off the gem), outcast garden-variety wedding rings from an ex-spouse, or tossed away dental gold fillings.

There may be some number valued pieces at the bottom of your jewelry boxes and drawers. Perhaps you forgot you have them! A single earring, busted chain, or even worn out sterling silver flatware.

Will your selling scrap gold efforts be worth your time? To calculate what your items are valued at, without giving an appraiser $50 to $200 per hour, use these guidelines for gold prices:

First Of All, search for the karat impression of your gold. And Then, check to see today's monetary value for a troy ounce (31.1 grams) of 24 karat pure gold. If your item is less than 24 karat, discount it accordingly. 18 karat is worth 75%, 14 karat is valued at 58.3%, 10 karat is 41.7%.

Then deduct 10-20% for the refinement fees, and add whatever profit the middleman purchaser wants from reselling it.

To give you a approximate idea: when gold values were of late at their all time historical high of $1,160 an ounce, you may have picked up approximately $85 for a 14K wedding ring.

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

A lot of persons will not consider where to trade jewellery a lot, and will simply go to the nearest pawn shop to determine how much hard cash they can gain when they're interested in selling scrap gold.

Or they may reply to a Television or newsprint ad from a local jewelry maker or national gold buying company.

Since gold costs are at a record breaking high level, and the amount of individuals who desire to get hard cash speedily is rising each day, various companies have appeared to try to cash in on this trend. Numerous of these companies capitalize on the average person's lack of knowledge of the true worth of their gold.

Regardless of who you sell your scrap gold to, it has to end up with a precious metal refiner. They have the equipment and licenses to purify the gold and reprocess it into gold bars suited for industrialized use.

And so to pull in the most cash, it's better to cut out the pawn shop or different broker, and trade directly with a time-tested refinery. They are not in the jewelry line of work or a intermediary.

You can ask that they send out to you a postage paid, insured envelope that you can track on-line when you send it. Make sure to fill in your thorough description of what you're shipping. Xerox your description, and take a picture of the jewelry you're sending off. Do not forget to take out jewels and any non-gold parts that are of value to you.

The company applies non-damaging exams to specify the day's market value of your jewelry.

The most reputable companies telephone you with their offer first, and if you accept their terms mail you a check or direct deposit your funds right away. If you're not happy with the amount, they will return ship (insured) your piece at their expense.

Related Tags: sell gold, buyers of gold, gold recycling, recycled gold, scrap gold calculator, scrap silver prices

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