How to Sell Gold Jewelry in Bay City, Michigan

Bay City, Michigan, may seem like an unlikely place to cash in on the gold market, but the truth is that there are a number of places in Bay City where anyone can make money from gold. Almost everyone has old gold jewelry that is never worn, or perhaps has a broken chain or an earring with a missing mate. Even broken or damaged gold jewelry is still gold, and still has value. If you have gold on your hands, it could easily be turned into cash in your pocket in a matter of minutes. If this sounds like something you would be interested in, keep reading to learn how to sell gold jewelry in Bay City, Michigan.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Gold Jewelry

1. Put a classified ad in the local newspaper. The Bay City Times classified ads has an area for Bay City residents to list items for sell. This is a great way to let the local public know that you have gold jewelry available. One should obviously exercise caution when dealing with strangers, but this can be a quick and easy method of selling your gold jewelry as long as you use a little common sense.

2. Sell your gold jewelry to one of Bay City’s fine jewelers. Bay City is full of jewelry stores who will buy your gold jewelry, clean it and place it for sale in their store. Others will at least offer to put your jewelry in their store on consignment, and collect a commission when it sells. Some of the jewelry stores in Bay City that you might show your gold jewelry to are Herman Hiss (989-892-2567), Showcase Jewelry (989-684-0490), Simmons Jewelers (989-893-4653), Andrews Fine Jewelers (989-686-3982) and JB Robinson Jewelers (989-686-8588).

3. Sell your gold jewelry as scrap. Some companies will pay you the wholesale value based on the weight of your gold, simply so that the gold can be melted down and made into something new. This is particularly useful if you have broken or damaged jewelry that no one else wants. While there are no precious metals dealers in Bay City, there are a couple in near by Flint, Michigan. If you don’t mind making a short road trip, you can sell your gold jewelry to Direct Gold & Diamond Company (810-230-0179) or to National Gold and Diamonds (810-235-2035).

4. Auction your gold jewelry at an online auction site, such as eBay. If you aren’t happy with the offers you are receiving locally, then you may want to consider selling your gold jewelry in an online auction. Many times you'll get a better price from someone in another area, who may consider your particular item a highly sought-after treasure. Just be careful not to accept bids from anyone outside the US, and to pay close attention to the person’s feedback rating.

5. Use a digital scale to weigh your gold jewelry, then check the current market rates online (see Resources). This will allow you to know if the offers you receive are fair market value, or if someone is trying to steal your gold.

Resources

• Herman Hiss & Co.
• JB Robinson Jewelers
• Direct Gold & Diamond Company
• Check current market rates for gold. here.

[beasmart]

on 1/25/2009 oops! I was too wordy, I guess! Anyway, I was saying... be aware when you go to these places that buy jewelry that you are selling used jewelry; you will not get anywhere near what you paid for it new -- not even from the place that sold it to you. So be realistic. 3. E-bay can be a good resource, especially for jewelry with gems. On solid gold items, check the scrap price first and consider putting a reserve price on it, so you get a better value. 4. Just checking the gold market and weighing your gold is incomplete advice. The market price of gold is for pure 24 karat gold, however jewelry is generally 10 karat or 14 karat, which is less pure, and therefore less valuable. An ounce of jewelry will not bring the same as an ounce of gold. There are fair and reputable dealers in Bay City; in fact, I have found that in Bay City, we are fortunate that the local market pays higher

[beasmart]

on 1/25/2009 There is some good advice here, but also some innacuracies.

1. First, not all jewelers will buy used jewelry. And even if they do, they may not buy it unless you either purchased it from them, are willing to buy something twice as expensive, or both. None of the jewelers listed in this article are going to buy your jewelry and then resell it in their stores, although there are other places that do this. Andrew's is not even in business any more. Can you see Herman Hiss selling used jewelry? And the chains like JB Robinson never do this.

2. Yes, you can sell gold for scrap. In fact, unless you have a sizable and/or good quality diamond, scrap price is what you will get at any jeweler or at a business that specializes in buying gold. There are a few such places in the tri-city area; in fact there is a store called We Buy Gold right in Bay City. Be aware, when you go to thes