Gold jewelry has traditionally been not just a beautiful ornament but also a store of value. When gold jewelry becomes old and broken, it can be sold back to gold dealers as scrap gold, meaning that the price for it will depend only on the weight of gold it contains. Selling scrap gold jewelry is a fairly easy undertaking.
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Difficulty:
Moderately Challenging
Instructions
1
Determine the purity and weight of your scrap gold jewelry. The purity can typically be measured in two ways: percentages and carats. The most common measurement of gold is the carat system, whereby 24 carats represent 100 percent, pure gold. 24 carat gold is extremely soft and is not good for durable jewelry making. Therefore, 18 carat gold is often used. This is 18 parts gold to six parts alloys or 75 percent pure gold. To calculate the amount of pure gold a jewelry item contains, multiply its weight by the carat of the gold, divided by 24. For example, if you have ten grams of 18 carat gold, you have 7.5 grams of pure gold.
The purity of the gold should be stamped on the jewelry, and you should be able to read it with a magnifying glass. If you cannot find a stamp on your jewelry, take it to a jewelry store and get an estimate from them.
2
Get in touch with online and offline jewelry buyers and find out the price they pay for scrap gold of different fineness. Get the highest price and multiply it by the weight of your jewelry item. Be careful to use the same measurement units. For example, if you get the price per ounce, you should convert the weight of your gold from grams to ounces (1 ounce = 28.3495231 grams)
3
Sell your jewelry for the highest price. If you are selling your jewelry in person, be prepared to show a photo ID card to the gold dealer to prove your identity. If you are selling your gold to an online dealer, mail it with a courier mail service in safe and secure packaging.
