How To Sell Gold Jewelry

If you're looking to sell gold jewelry for cash there are a few things that you should consider before taking the plunge. Gold right now is near all time highs, in the $930's as of June 16th, and the demand is still increasing. Selling gold jewelry is a good choice right now since you can get a good return on your initial investment. Of course none of that does you any good if you don't know where to sell to. I am going to cover who and where you should sell you gold jewelry to later on.

One of the biggest reason people are becoming more interested in selling their gold these days, is that the price of gold is near all time highs right now. At over $930 an ounce, it has enticed many that are having hard times to sell off their gold jewelry for some easy cash. Because there is such a demand right now, many new gold buyers have popped up promising quick cash for gold. And that is why you have to be careful and do your research before deciding who to sell to. Most of those companies don't have your best interests in mind.

If you play your cards right, you can get a great return on your gold jewelry. It's all about finding the right buyer. Some of the reasons to sell gold jewelry to a refiner would be if your jewelry is out of style or need repairs. It can be a hassle to try to find someone to buy your vintage or broken pieces if you're trying to sell to the traditional places like jewelers or pawnshops because those vintage pieces only appeal to a very small select group of people and if it's broken most shops won't want to go through the trouble of repairing it or they will just give you a lot less than it is worth.

Where To Sell Gold Jewelry

There are two main places to sell gold jewelry: jewelry stores or pawnshops and gold refiners or scrap gold dealers. Both have their own advantages and disadvantages. There are of course other options but these are the most popular and easiest.

The first place many people consider is their local jewelry store or pawn shop. While they will indeed buy your gold jewelry like necklaces, chains, bracelets, or rings, it will be only for partial retail value. They do need to turn a profit so that is expected but make sure you know how much your gold is worth before hand by getting several appraisals first so you don't get ripped off. In general, jewelry stores will give a better price than a pawnshop, but that is not always the case.

These two places are the best option if you have well crafted in style or antique jewelry. Gold refiners and the like only give you cash based on the gold content of the piece. You should go here to figure out how to value your gold.

Selling To Scrap Gold Dealers or Gold Refiners

Depending on what the current price of gold is and how much gold content your jewelry contains, scrap gold dealers and gold refiners will pay you an amount between 75-90% of that number. The scrap gold dealers are usually middle men that sell to the gold refiners so if you can find a good refiner it is usually best to sell to them directly. You can find refiners online or you can try your local yellow pages.

The kind of jewelry to sell to these guys is broken or severely out of style items like heavy gold chains or class rings which can't be resold easily. This is because they only pay you based on the gold content of each individual pieces instead of considering things like aesthetic value.