Last updated on June 11th, 2018 at 09:25 am
Last Updated on June 11, 2018 Posted by Colonial Acres Coins
Gold. It’s a term that has several meanings, from a colour to value. When we hear the term gold, we instantly think about riches or wealth. Gold still can bring about good fortune and with gold prices continuing to rise, you can easily make money by selling your gold jewelry or other items containing gold. Almost everyone has old jewelry lying around the house that’s unused or even broken. Use the gold content to your advantage and sell your gold jewelry to earn quick cash. But how do you go about selling your jewelry pieces?
Knowing the Value
Every pure gold piece has value. The amount the piece is worth will be dependent on the price of gold as well as the weight of what you have. There are common marks you can look for on your gold jewelry pieces to see just what you have and learn more about the value. With rings, necklaces or bracelets, you should be able to see a mark that indicates what type of gold you have. Such markings can include:
- 8k
- 9K
- 10K
- 14K
- 18K
- 22K
- 24K
- .333
- .375
- .417
- .585
- .750
- .916
- .999
These markings can be hard to read and may require a magnifying glass or special tool. If you are unable to determine the markings on your jewelry, you can have it appraised to find the true value. You want to have your items appraised by a quality gold dealer to learn the true value and avoid being swindled. Look for top rated gold and silver dealers so that you can have your items reviewed and learn just how much your pieces are worth.
Broken Pieces
Do not let the fact that a piece of jewelry is broken to deter you from selling the item. You are not selling the piece to be used as an accessory. You are selling the item for gold content. Even though the piece may be broken, the gold can be melted down and used again. Even the smallest of pieces can help to add value to your overall lot if you have a high content of gold in your piece.
When having items appraised, even broken pieces, it can be helpful to get two or even three or four different appraisals. The goal is to get the most for the piece. You may find one shop pays top dollar for gold items while another wants to give you the least amount possible in order to sell the gold for a profit.
Benefit to the Buyer
As a buyer, the benefit is that gold can be amassed and used to create new pieces or sold for gold content. Buyers often are able to purchase various weights in gold so that they can sell the gold and make a profit. The seller makes money by getting rid of jewelry items that are not being used while the buyer can make new pieces to sell for an even higher profit or hold on to the gold and sell when prices are at a premium.