Tuesday, February 28, 2012

Tips On Selling Your Old Gold Jewelry

I recently went out on the web and tried to search for some great tips when selling your jewelry. The problem is when you enter that search term in Google, you are instantly bombed with sites that want you to sell your jewelry to them. Trust me that is not a tip on how to get the best deal when selling your jewelry. I have put together this information, to keep you informed when selling your old gold jewelry.

Tip #1
Be careful with pawn shops. They are only going to resell your gold to a gold buyer. Usually they offer the lowest possible price for your gold so that they can get maximum profit when they get cash for your gold. There is nothing wrong with pawn shops they provide a great service to our communities, especially in this day and age, however selling them gold when gold prices are through the roof, might be a bad idea. Do you know gold is currently trading at approximately $1800 per troy ounce?

Tip #2
Before you run out to the jewelry store to sell your gold jewelry make sure that you are not selling something that is worth more than it is worth just for scrap. For example things with a maker's mark such as Tiffany's or something like that. You would be surprised how much your old jewelry is worth, and i'm not just talking about scrap value, I'm talking about resell value. Jewelry stores are not going to offer you very much money for your jewelry if you are selling it to them as scrap gold.

Tip # 3
Check online for gold buyers. They typically offer you a way better price than jewelry stores or pawn shops. Remember before you send them your gold, make sure you are just getting a price, and you have the ability to call the whole thing off. If you do, then that is definitely an option for you, because you can send them your gold, see what they will offer you, and deny it if their price is too low. Keep in mind the troy ounce price of gold. If you don't know what gold is currently worth, you can see the price here in the left column of this website. That is what gold is currently trading at per troy ounce.

Tip # 4
I know currently we are going threw hard times in the USA, and people are trying to make extra money anyway they can. Keep in mind these tips before you sell your old jewelry or scrap gold items. Ebay and craigslist are also an option too if you want to see if you can resell the item, and get the best price. Keep in mind Ebay does have fees, and it is not always the best way to go. 

Good luck! Please leave a comment about your experiences selling scrap jewelry, or other gold items.

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