If you re looking for an additional source of income, look no further than your jewelry box. Trading cash for gold has been a constant source of money for years, and its not slowing down " even in today's tough economy. Jewelers usually buy many different types of jewelry, from rings to watches, as well as necklaces. Here are some tips to get the most cash for your gold.
The first thing you should do is figure out what you want to sell. Most jewelry has an emotional connection to it, but there are some pieces that you can likely part with that will have little to no impact on you, if you do. In the case of jewelry, workmanship usually doesn't matter, since it will likely be melted down for the gold anyway. Heirlooms that have been with your family for generations are probably not the best thing to trade " even though they might fetch you more money. You'd have no way of getting the money or the heirloom back if you sell it.
Get the gold appraised before you try selling it as well. An appraisal can sometimes mean an initial set back, but can give you a ballpark figure for what to ask for. It will also give you a good figure to judge offers on " you'll be able to tell if you're being low-balled. Be weary of appraisals given by someone you're trying to sell the piece to " they may not give you a fair value.
Finding a legitimate place to trade in your gold is really a trivial matter. There are plenty of businesses willing to buy your gold, but the best places to look are your local listings. Find any jeweler who buys gold, and call them up to find out how they do business and what kind of rates to expect. Get as many bids as you can, and when you feel you're not going to get anymore, sell it to the highest bidder.
Note that the price of gold on the market is measured in 24 karats; most gold found in jewelry is 10-14 karats, so you wont get full market value. Still, the important thing to do is shop around for the best price. Many people attend gold-selling parties at home, but these are not good for getting a fair market value for your gold. While it may take a little longer, doing some homework will give you the most cash for your gold.
The first thing you should do is figure out what you want to sell. Most jewelry has an emotional connection to it, but there are some pieces that you can likely part with that will have little to no impact on you, if you do. In the case of jewelry, workmanship usually doesn't matter, since it will likely be melted down for the gold anyway. Heirlooms that have been with your family for generations are probably not the best thing to trade " even though they might fetch you more money. You'd have no way of getting the money or the heirloom back if you sell it.
Get the gold appraised before you try selling it as well. An appraisal can sometimes mean an initial set back, but can give you a ballpark figure for what to ask for. It will also give you a good figure to judge offers on " you'll be able to tell if you're being low-balled. Be weary of appraisals given by someone you're trying to sell the piece to " they may not give you a fair value.
Finding a legitimate place to trade in your gold is really a trivial matter. There are plenty of businesses willing to buy your gold, but the best places to look are your local listings. Find any jeweler who buys gold, and call them up to find out how they do business and what kind of rates to expect. Get as many bids as you can, and when you feel you're not going to get anymore, sell it to the highest bidder.
Note that the price of gold on the market is measured in 24 karats; most gold found in jewelry is 10-14 karats, so you wont get full market value. Still, the important thing to do is shop around for the best price. Many people attend gold-selling parties at home, but these are not good for getting a fair market value for your gold. While it may take a little longer, doing some homework will give you the most cash for your gold.
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You can get cash for gold despite how old you might think the precious metal might be.
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