If youre 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 todays 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.
Determine first what youre going to sell. This can be a difficult step for some people, because of various attachments to jewelry. As a general rule, avoid selling things that cant be replaced " such as family heirlooms " because the likelihood of seeing anything you sell to a jeweler again is quite low. If you think you have a piece that will sell a lot because of its workmanship, dont worry about it unless it feels like it has a lot of gold in it. Most jewelers will just melt the piece down for the gold anyway, so they dont care about the workmanship at all.
To make sure you get reasonable offers for your pieces, you need to get an appraisal. An appraisal will give you a general figure to work with, so that you know approximately how much the gold is worth. In some cases you may need to pay a small fee to get your pieces appraised, but the fee is worth it if only to avoid the hassles of low-ball offers. Of course, the price given by the appraisal may end up being higher than what you end up getting in the end.
To find a business that will buy your gold, check your local yellow pages. Look for listings for jewelers that will buy gold, and call them to see what kind of rates they offer. Gather up a small list of local jewelers, and collect bids for your pieces. If youre lucky youll get some big competition for your piece and be able to sell your piece 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.
Determine first what youre going to sell. This can be a difficult step for some people, because of various attachments to jewelry. As a general rule, avoid selling things that cant be replaced " such as family heirlooms " because the likelihood of seeing anything you sell to a jeweler again is quite low. If you think you have a piece that will sell a lot because of its workmanship, dont worry about it unless it feels like it has a lot of gold in it. Most jewelers will just melt the piece down for the gold anyway, so they dont care about the workmanship at all.
To make sure you get reasonable offers for your pieces, you need to get an appraisal. An appraisal will give you a general figure to work with, so that you know approximately how much the gold is worth. In some cases you may need to pay a small fee to get your pieces appraised, but the fee is worth it if only to avoid the hassles of low-ball offers. Of course, the price given by the appraisal may end up being higher than what you end up getting in the end.
To find a business that will buy your gold, check your local yellow pages. Look for listings for jewelers that will buy gold, and call them to see what kind of rates they offer. Gather up a small list of local jewelers, and collect bids for your pieces. If youre lucky youll get some big competition for your piece and be able to sell your piece 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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