How to Make the Most Money From Selling Your Gold

Selling gold or old gold jewelry should not leave you like you have just been cheated. There are ways to figure out how to get the most out of your gold jewelry or scrap gold without feeling like you have just been taken advantage of. If you educate yourself before selling your gold jewelry you will have the upper hand as the seller. If you are only pawning your jewelry to get a loan remember the interest rates will be higher at pawn shops and you will have to pay it back.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Internet
• Access to jewelry scale

1. Take each piece of gold and note the percentage of gold in each piece. This is done by looking at the marking on the piece if it is 10k, 14k 18k or 24k. 24k is pure gold and 10k has the least amount of gold in it. So for example, if you have a 10k gold ring or 14k gold earrings marked, they will be worth less then if you have a 24k gold ring. (see resources for more information).

2. Weigh each piece of gold and write it down next to the percentage of pure gold each piece has.

3. Check gold prices for the day of the sale. This is where you will determine what gold is selling for. If you educate yourself on what the gold weighs, the percentage of gold in the piece and the gold price for the day it gives you an idea exactly what the going rate is.

4. Check your piece for wear and tear. If you are selling scrap gold you should negotiate off the gold price for the day on regular gold prices for scrap gold. If you have a piece of gold jewelry that is in perfect condition you may get more if they plan to resell it especially at a pawn shop.

5. Keep in mind a pawn shop is only out to make money. Many will not even include the diamonds in a piece of jewelry. If this is the case, don't sell it to them. Many say that just to fool you. If you go back later the piece you pawn or sell will be selling for hundreds more than they gave you. Many will say they do not consider stones and some don't but don't sell just out of desperation or need of money and let yourself be ripped off. Many will tell you they can only scrap it and will turn around and sell it. Do your homework, know what the price of gold is and the weight of your gold. Let them know that you know what it is worth and negotiate from there.

Resources

• Check Gold Prices Here
• More Information of Gold Weight, and Properties Click Here
• More Gold Information Here

[missnye]

on 12/18/2009 good info!*****