How to Sell Your Old Gold Jewelry for Big Money
Your jewelry box may be a gold investor's dream come true. Many people have broken and old jewelry lying around that they just don't use anymore. For this reason, companies such as jewelry stores, pawn shops and mail brokers are buying up gold by prompting you to send in those unused pieces. The value of gold is on a steady rise. By selling your old gold, you can make a pretty penny while making room in your jewelry box for new pieces.
Other People Are Reading
Instructions
-
-
1
Examine each piece of jewelry you own and wish to get rid of. On the clasp or backing, you will find the karat amount stamped. This indicates how much gold was used in manufacturing. Write down the karats and a list of your unwanted jewelry.
-
2
Look up the current price of gold. Prices are based on the troy ounce. One troy ounce is equal to 31 grams. Weigh each piece separately on a jeweler's scale. Based on the weight of each piece, you can effectively determine how much your gold is worth based on current gold prices.
-
-
3
Research different companies and brokers that offer cash for gold. While you will find a slew of offers, some may not offer you the best price, hoping you do not know the difference. Based on current pricing, select the company or broker that offers the best deal, closely matching what you know your jewelry is worth.
-
4
Sell your jewelry to the company or broker offering the highest price, based on current gold value. Some people may try to talk you out of your jewelry for a ridiculously low price, to pad their pockets. Do not accept obvious scam offers.
-
1
References
- Photo Credit Baerbel Schmidt/Digital Vision/Getty Images
