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Getting The Best Price When Selling Your Gold Jewelry

Getting The Best Price When Selling Your Gold Jewelry

People throughout the country are in desperate need of funds. Some have lost their jobs after decades of loyal service. Others were barely making ends meet before having their hours reduced or bonuses cut. Even as the recession continues to devastate hard-working families, the price of gold keeps rising. This is good news is you have gold jewelry that is collecting dust in the deep recesses of your garage or attic.

Maybe your pieces are broken and you’re unable to wear them. Maybe they’ve gone out of style or are a reminder of a past relationship you’d rather forget. Whatever the case, now may be a good opportunity to sell them. Below, we’ll provide a few tips for selling your gold jewelry and enjoying fair offers from motivated buyers.

Educate Yourself On Price

There are many buyers who will offer you less than 50% of your gold’s value. They’re hoping that you don’t realize how much gold is actually selling for on the open market.

Take the time to find out what the current spot price is for a troy ounce. You should also categorize your bracelets, earrings, pendants, and other gold pieces by karatage. That’s the only way to accurately determine the value of your collection. When you finally approach a buyer, you’ll be better prepared to decline unfair offers.

Avoid The Temptation Of A Quick Sell

The thought of driving to your local jeweler or pawnshop to sell your gold jewelry is seductive. After all, you can receive cash for your items almost immediately. The problem is, jewelers and pawnshops will normally offer an extremely low price. They hope you’re desperate enough to accept their offer because they can make a quick profit by selling your jewelry to someone else.

You’ll enjoy far more attractive offers by selling your gold necklaces, watches, studs, and earrings to an online refiner. The transaction is usually smooth and quick. Once you accept the refiner’s offer, they can usually mail your check within a few days.

Do Your Research When Selling Online

One of the most common mistakes people make when selling their gold online is to work with a dealer rather than a buyer who operates their own refinery. A dealer will almost always offer a lower price because they will sell your items to the refiner for a profit. Eliminate the middleman. By working directly with the refiner, you’ll enjoy a bigger windfall for your gold cuff links, rings, chains, and other pieces. If you’re uncertain whether a buyer operates their own refinery, ask them.

It’s also worth noting that refiners are usually receptive to buying scrap gold. For example, they’ll buy your gold dental fillings and bridgework, coin collections, spare watch parts, and even shavings. If times are tough and you’re struggling to stretch your monthly budget, consider turning your gold belongings into cash. Sell your pieces to an online refiner to get a fair price and raise needed funds.

Tags: Gold, Gold Jewelry, Sell Gold