The value of gold has increased in recent years. Gold jewelry that has a high karat rating could yield you a cash amount that exceeds the personal value that you place upon a gold item. Use the following tips to determine if selling some unwanted jewelry will be profitable.
Karat Rating And Weight
The karat rating of a piece of gold determines the purity of the gold. Most gold jewelry items contain a mix of gold and other metals. Plated jewelry may only contain a thin layer of gold. Selling a piece that is plated may not provide you with much money. Inferior gold pieces may not be of interest to some gold buyers. A gold buyer is typically not interested in the actual item that they will be purchasing from a seller, unless the item is a collector's piece.
Most gold buyers are seeking gold that can be sold to another buyer or that can be melted down and turned into another gold item. The karat rating and weight of a gold item should be assessed first. You can use the rating and weight to determine the value of a piece of jewelry. An online calculator tool will provide estimates that are based off today's gold market values.
Other Parts Of The Sales Process
If you own some valuable gold pieces, you should go one step further to ensure that you will get the most value for your gold. If you own an item that contains valuable gemstones, a buyer may only provide you with a payment that is reflective upon the value of the gold. If the purchaser is solely interested in gold, you could wind up with a low payment amount that doesn't reflect upon the true value of a piece.
Have your gold jewelry appraised. Then, contact a gold buyer and inquire about how much they will be willing to pay you. If you decide to conduct a sale that will require you to mail your jewelry, you may need to furnish photographs of the jewelry first. The photographs may help a buyer determine if they are willing to purchase the gold pieces.
A buyer may furnish you with a postage-paid mailing envelope. Before you mail your gold to a buyer, find out if you will need to insure your gold. Insuring the gold will prevent financial loss that is a direct result of a mailer being lost while it is in transit. Once your gold is received and inspected, you will be provided with a cash offer for the gold.
Check online for more tips on how to sell gold for cash.