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Tips for Selling Old Gold Jewelry

Tips for Selling Old Gold Jewelry

Selling old gold and jewelry is very attractive at the moment because of the exceptionally high prices being paid for gold. The last couple of years has seen an inexorable rise in the price of gold on the markets because of the economic crisis. The reason why gold prices rise in bad economic times is because institutions and governments put their money into gold rather than the stocks and bond market until thing stabilize.

This answers the first question many sellers have – is now a good time to sell?

The answer has got to be yes because the recovery has started and once this takes hold, the price of gold can expect to fall again as demand tapers off. The smart money will no longer be buying gold but investing back into the stock markets instead.

Another question sellers should ask is whether it is only gold which they can sell?

The answer is no – there are buyers for all sorts of precious metals used in making jewelry; platinum and silver are two common metals which are bought by refiners but you should always check before you agree to a deal exactly what you are being paid for and what is being bought. For instance, diamonds are frequently not included in a quote for your jewelry pieces so make sure you remove all precious stones from jewelry before you send them off. You can always sell these stones elsewhere and they are very valuable too so be sure to take a little extra time and maximize the return on your investment.

A further tip is to shortlist gold refiners and avoid jewelers or other middlemen. Refiners are the operations who will actually melt the gold pieces down into component metals and produce pure gold bars (known as ingots) for the market. As they are the producers of the new gold, there is no middleman taking a percentage or profit out of the price being offered to you, so you are more likely going to get top dollar from them.

Selling your old pieces ought to be simple and easy to do, with a secure and insured courier collecting your jewelry and a very rapid response form the company you choose to do business with. You ought to have a quote or offer to buy the jewelry within a couple of days and if you agree, have the check in your bank account within a week to ten days.

Tags: Gold Selling Tips, How to Sell Gold, Selling Gold