There are many reasons why people choose to sell their gold jewelry. It is a quick way to get rid of unused jewelry, and make some extra quick cash. It is important to know that you will not get the full market value for the gold. You can sell your gold jewelry quickly through one of these many places.
The first thing to know is that you will only get a portion of the value of scrap gold, not the going market prices. The person who buys the gold from you has to get the gold melted down, and they will only pay for quality gold. This dealer has to pay a smelter, who is someone who melts the actual gold, anywhere up to 30% of the total value of the gold. After all this is completed, the buyer will now get the profit to keep.
Some gold has more value than others. 25 karat gold is a lot heavier than 10 karat gold, so you will get a lot more money for it. The more you know upfront about the gold that you have to sell the better. You can have a better knowledge of what to expect from your gold and understand how the companies work.
There are quite a few ways that you can sell your gold jewelry, and one of the more popular options is to mail it away. There are several companies, such as Cash4Gold, that will mail you a prepaid postage mailer in which you put your gold in, mail to them, and they will mail you an itemized invoice and a check. If you are not happy with the amount they offer, you can decline and they will mail you the jewelry back.
Several people choose this option because it is quick and easy. However, you will only receive anywhere from 10% to 29% of the actual meltdown value. If you are just looking for a quick way to get a few bucks and rid of some of your old gold pieces, this might be the option you want to go with.
Another option to selling your gold is at a hotel gold buy. You can typically find out about these parties on television. There are a couple of benefits to this option, such as getting rid of antiques as well, and they do pay slightly higher profits than the mail in option. The only downside is that it can be crowded because they are so popular, and it is a short time frame.
Another popular option is to sell your jewelry right at a jeweler. The biggest benefit to selling your gold jewelry here is that you can typically get the highest dollar amount for it. There is less pressure, and you can shop around for the best price if you have the time to do so. Many people choose this option just for the fact that they can get several different quotes, and do not feel as pressured to hurry up and sell.
Some people will have gold parties at their home. You bring your gold jewelry to sell, they appraise it, and you can get money right away. There are a couple of downfalls to this option, such as they may not be as knowledgeable, as well as they make a commission to, so you make less money.
Your last resort to selling your gold jewelry is a pawn shop. It is the quickest way to make some extra cash on your gold. If you choose to at the last minute get it back, you can buy it back for a slightly higher price.
Also, different pawn shops may tell you different prices, so you can shop around. Take these options into consideration when planning to sell your gold jewelry.
Jewelry Advice by Jewelrista.
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