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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

Popular Reasons To Sell Your Gold Jewelry

Popular Reasons To Sell Your Gold Jewelry

With the economy still largely in tatters from the financial debacle that began in late 2007, millions of people are struggling to make ends meet. If funds are low, there may be an easy solution: selling your gold jewelry for fast cash. You may have gold bracelets, class rings from your high school years, broken necklaces, and similar items hiding in storage. They can sold online at any time. Below, we’ll list four reasons why a growing number of people have been going through their dresser drawers looking for forgotten gold jewelry to sell.

Pay A Mountain Of Bills

When the economy is healthy and jobs are safe, it’s easy to gain a level of comfort with your finances. As long as you’re bringing home a check, you can pay your bills. Unfortunately, jobs have become scarce; millions of people have been laid off even as their bills continue to pile up. Selling your gold jewelry is a great solution for generating cash without borrowing or depleting your savings. That way, you can pay your credit cards, utility invoices, and other bills.

Fund An Important Event

Maybe you’re getting married soon. Or, perhaps you need money to make a down payment for your first home. By selling your gold jewelry, you can raise funds to help finance an important event in your life. That event may be the wedding of your child, a vacation for you and your spouse, or the purchase of an item that you have wanted for a long time. Cash translates into financial flexibility. And it can help you avoid taking out a loan, dipping into your savings, or liquidating investments.

Take Advantage Of Other Investments

Even though the economy is staggering, the stock market has been rising. Like stocks, other investment vehicles may also hold promise. When you sell your gold jewelry and convert it into cash, you’ll be able to use the funds to explore other investment opportunities. That might include stocks, bonds, real estate, or investing in a friend’s business. By selling your gold earrings, pendants, charms, and rings, you can take advantage of these attractive vehicles.

Sell High

Even the experts have been stunned by the recent prices of gold. Today, we’re seeing prices per troy ounce that the world hasn’t witnessed in decades. That influences the value of each piece of gold jewelry you own. The earrings that were once worth $30 or $40 may now be worth $100. The necklace which dealers once quoted at $125 may now bring $300. However, be wary. While the current price may continue to climb, each day brings the potential for a significant decline.

There are many reasons to sell your gold jewelry. Whether it’s to pay bills, finance a wedding, invest in stocks, or take advantage of the recent price spike, doing so generates quick cash. And in today’s economic environment, cash may be far more attractive than that forgotten necklace hiding in your dresser drawer.

Tags: Gold Jewelry, Sell Jewelry