Selling unwanted or broken gold jewelry is a great way of getting some extra cash without the need to dip into your savings or take out a personal loan. However, if you are not familiar with the process of selling gold, you could end up walking away with less money than your jewelry is truly worth. Thankfully, even a first-time seller can ensure they are getting the most for their unwanted gold by simply utilizing the tips below.
Always Separate Your Jewelry By Karat Before Weighing
Because gold is such a soft metal in its purest form, this precious metal must be combined with other metals in order to allow it to be fashioned into jewelry that offers the necessary durability for everyday wear. During the melting process, the gold is separated from these other metals so that new gold items can be fashioned from the remaining gold. The amount of gold that a particular piece of jewelry contains is reflected by the karat of gold. For instance, 24-karat gold contains more gold per troy ounce than 14-karat gold. Consequently, 24-karat gold will be worth more than 14- or 10-karat gold. Taking the time to separate your jewelry by karat before a gold buyer weighs it will ensure that you are paid the proper rate for each different karat.
Choose A ProfessionalGold Buyer
While there are many different people that may be interested in buying gold jewelry, not everyone who is interested in buying your gold will have significant experience or knowledge when it comes to the true value of your gold items. This lack of experience can lead to your items being undervalued. To ensure that you are getting the best appraisal when it comes to the true value of your unwanted gold jewelry, it is always best to select a professional gold buyer. The more experience this buyer has, the less likely they will be to undervalue your items.
Select A Local Buyer Whenever Possible
Dealing with a gold buyer in your local area is always preferable to sending your gold jewelry off in the mail. This is because a local buyer will be able to offer you an immediate cash payout without the risk that comes along with sending your items through the mail. Furthermore, if you choose not to accept the purchase offer that you get from a particular buyer, local sales will allow you to get your items back right away rather than waiting for them to be shipped back to you.