March 15, 2010

How to Sell Your Gold Jewelry

I"ve written here about buying gold, heck - recently, I wrote about a site that is selling SEEDS for barter - but this morning, I realized that I hadn't thought about the flipside: selling your old gold jewelry. 

There are those TV ads, where you send your old gold off in an envelope, and voila! a check comes back to you in return mail.  Is this the best way to exchange one asset for another?  Maybe. Maybe not.  There's lots on the web about selling gold jewelry - here's some of the best stuff that I found out there:

  1. Karen Datko at MSN Money warns that you're better off selling your old gold jewelry as JEWELRY, not as scrap metal, and explains why.
  2. Susan Carpenter at the LA Times advises you on getting your stuff appraised -- and discusses the option of leaving your jewelry for sale with a consignment shop.  Did you know that there are things you can buy on the web to value the quality of your gold by yourself, at home?
  3. E-How has a video that discusses how to sell used gold jewelry, and gives you the scoop on cleaning your jewelry as your first step.  (There are also other videos that demonstrate ways to clean jewelry, I suppose there are various methods.)
  4. Consumer Reports has some advice for you, too.  From here, I learned that you need to ask a jeweler to weigh your gold jewelry in pennyweights or troy ounces.  Then, they've got an online calculator right there for you, to input your item's weight and get its value based on the price of gold that day.  Cool.
  5. EBay Jewelry Selling Guide is filled with all sorts of details.  Vintage jewelry?  Still in the box?  Little details that may make a difference in the sales price are collected here, along with lots of advice on setting a price and maximizing your sale. 
Image:  Gold and Platinum Rings, Wikimedia Commons - public domain

3 comments:

Anonymous said...

I don't know, but I think it's time to CASH IN and sell our gold and silver. With the prices fluctuating so much lately, and yet at still a record high, why NOT cash in....especially since the government (and world) is unpredictable right now! So, that's what I did - got all my old jewelry together and sent in to the Silver And Gold Exchange in. http://silverandgoldexchange.com After lots of homework and checking on them, I found that they had a great record, no complaints, and seemed very reputable. And in an industry that has tons of complaints, I'm very happy to report that they were GREAT!! Very honest, easy to deal with, and really fast in payment! I recommend them if you do decide to sell and finally CASH IN before prices fall because of the gov't influence!

Net said...

Gold trading prices that are employed daily on the open markets, can help to establish gold prices when someone is looking to sell gold jewelry. Knowing how to use trading prices for gold bullion and the daily cost of spot and scarp gold puts gives a jewelry seller a leg up when selling gold jewelry.





Sell gold jewelry

ahnn said...

When you want to sell gold jewelry, there are a lot of things to consider for your gold to have the highest value. There are a lot of shops that offer free appraisal. This will help to determine its real value.