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The Compelling Case For Selling Your Gold Jewelry Online

The Compelling Case For Selling Your Gold Jewelry Online

Most of us have old gold jewelry locked in storage or tucked away in forgotten corners. There it sits, collecting dust while the price per troy ounce of gold has vaulted to historic levels. Now is the time to consider retrieving your gold bracelets, necklaces, brooches, and even your high school ring. If you’re not wearing them, are they serving a purpose? Are they adding value to your life? If not, you can sell these items online quickly and easily while locking in a high price.

Suppose you feel an attachment to some of your old jewelry items. For example, maybe a wedding ring holds fond memories even though you’re no longer married; perhaps a bracelet was given to you by someone with whom you haven’t spoken in years; or maybe you inherited several pieces, and are uncertain what to do with them. By selling them online, you’ll have an opportunity to start fresh.

Below, we’ll offer four additional reasons that make a compelling case for selling your gold chains, earrings, and even past dental work, online.

#1 – Your Jewelry Is In Disrepair

Damaged watches have outlived their usefulness; a single earring missing its match cannot be worn; twisted chains, bent rings, and broken pendants are similarly useless unless you have them repaired. Unfortunately, repair work is expensive depending on the craftsmanship of the piece and the gold’s softness.

Sell such pieces to an online buyer. The buyer is interested primarily in the gold content rather than each individual piece’s craftsmanship.

#2 – Invest The Money Elsewhere

The stock market has been bouncing up and down over the last twelve months. Even money market funds have seen their share of volatility. With volatility comes opportunity if you’re able to invest at the bottom of a price trend. By contrast, consider the price of gold. Recently, it climbed over $1,260 only to pull back to $1,158. Is there still upside? Many experts consider it a gamble. For this reason, holding onto your gold jewelry may be a risky decision.

#3 – Make A Down Payment On A Home

The real estate market remains sluggish, and there are a lot of bargains across the country. Many homes have lost as much as 50% of their value. This has opened a unique opportunity for those with available funds to purchase a home. The prerequisite? A down payment.

Consider selling your gold rings, chains, and other jewelry to raise the necessary funds. You may find your dust-covered gold items provide an unexpected vehicle to purchasing your first home.

#4 – Raise Needed Funds For An Emergency

When an emergency strikes, funds are often unavailable. For example, your car may need extensive repairs; your son or daughter might require minor surgery; you may need to purchase a new refrigerator, washing machine, or air conditioner. Rather than liquidating your investments or using your credit cards, sell your old jewelry to raise funds.

Your pieces do not need to be made of solid gold in order for a buyer to be interested. As long as they have significant gold content, you can sell them.

Finding A Reputable Buyer Who Will Treat You Fairly

Once you have made the decision to convert your jewelry and scrap gold into cash, you’ll need to find a trustworthy buyer. One of the most important tips to remember is to always work with a refiner. Most buyers are brokers rather than refiners. They are middlemen. While they serve a purpose, they reduce the profit you’ll receive when selling your items. Fortunately, you can bypass them and work directly with a refiner, and thus receive a higher price for your pieces.

It’s impossible to tell where the price of gold will be heading in the near future. The recent pullback is a good reminder that high prices can plummet at any time. Now may be a good opportunity to lock in the current price.

Tags: Sell Gold, Sell Jewelry