 |
 |
Sell Gold
Today is easier then ever to sell gold. More and more people are cashing in on their unwanted and broken gold. Weak currencies, economic downturns, reduced gold production has increased gold prices to their all time high.
Tips for Selling Your Used Gold Jewelry
The first thing you will need to do is determine the karat and weight of your gold jewelry. Your jewelry will likely have a marking that will show the karat value. If you don’t have a precision scale to weigh your gold, you can buy a good one like the Camry Digital Pocket Scale on ebay for around $15.00. The more you know about the details of your jewelry, the less you will be likely to get ripped-off.
You also have the option to test your gold yourself. Ebay again may offer some good choices of great used gold testers. You should be able to find a good tester which will have instruction on the inside cover if the original instructions are lost. Just ask the seller to confirm which is the case before you buy it. These testers are very simple to operate with advanced electronics and will also come with a test strip. When the tester is in test mode, the devise will confirm if the jewelry contains gold between 6-24 karats. The meter will also indicate if the gold is solid or plated with a base metal. Make sure that the meter you buy has extra test strips. New units will ship with around 50 and each strip will last for several tests. So whoever sells you their used meter will most likely have several strips left to give you. There are a few good brands. You may want to look for a good used “Golden Touch” Electronic Gold Tester. You can also purchase new from “Star Struck” at starstruckllc.com.
Because of the current market conditions and high demand of gold, there are several gold buyers to choose from. Local buyers include Jewelers or pawn shops. However, I do not recommend a pawn shop. Pawn shops will typically give you rock bottom prices and you can do much better elsewhere.
It’s quite possible that you will get the most money from a jeweler simply because of the resale aspect, especially if your jewelry is in good condition.
If you want or need quick cash and don’t have the time for many inquiries, your best option will be an online scrap gold buyer. Just make sure that you do your homework. Online gold buyers will send you a free mail in kit to protect your gold so it will arrive safely for appraisal. These free mail-in kits are insured and are delivered by reliable reputable couriers. If you agree to the online gold buyers offer price, they will pay you for your gold by check. This process can take 1-2 weeks. If you are not satisfied with their offer, they will send you back your jewelry at no charge. Make sure that if you use a online gold buying service, check reviews and look to see if they are members of the Better Business Bureau or some other association.
Gold purity is measured karats. The highest purity gold is 24 karat and is commonly found in gold bars and bullion. Karat values that are used in most jewelry are as follows:
- 24k – Pure gold (not used for jewelry)
- 18 K – 18/24 = 75% pure
- 14 K – 14/24 = 50% pure
- 10 K – 10/24 = 41.6% pure
 |