Selling Gold Jewelry For Cash

Your old gold jewelry such as gold rings, bracelets, necklaces, and earrings can be a good source of extra cash. If you are planning on selling your gold jewelry for cash, you need to be aware that gold jewelry can have varying values based on more than just the weight of the gold.

To ensure that you will be getting a good offer from buyers, if you're selling high end jewelry you should have it appraised by a local, trusted jeweler. This way, you can have the basic information on how much your gold item is worth and you can use this as reference for when you receive offers from various gold buyers.

Don't sell high end gold jewelry for its metal price or scrap value, of course. If your gold item is in good condition, then selling gold jewelry for cash based on its craftsmanship or antiquity is the best option. There are buyers like TheEstateBuyer.com that specialize in buying valuable jewelry. However, if your gold jewelry is damaged and repair is out of the question, or it is not high quality, then go for the scraphead route. In the latter case, be sure to choose a well-established gold buyer to avoid scams or bad customer service. For example, Cash4Gold.com is considered a reputable buyer that has served nearly a million customers and even advertised in the Super Bowl.

The price you can expect to get for your gold item largely depends on the amount of gold present in it. This is where the karat system comes in. Authentic gold jewelry has the karat value stamped somewhere on the item. Jewelry below the 10-karat mark cannot be legally sold as gold in most places, though scrap gold buyers often will purchase it for its melt-value. Moreover, if you cannot find the carat value stamp on your piece, then it is likely that your jewelry may not be of a high value but appraisal or mailing it in for evaluation is the only way to know for sure.

To understand how the carat system works, review this list of the most common carat values of gold jewely and the corresponding percentage of purity (the amount of gold present in the item).

24K = 99.99% gold
22K = 91.66% gold
20K = 83.33% gold
18K = 75% gold
14K = 58.33% gold
10K = 41.66% gold

You can now start looking for gold buyers and see if the offer is fair. If you are comfortable doing transactions online, you can check out CashForGold websites who send out checks as payments for your gold items quickly which means you can skip the trip to the local pawnshop or haggling with unknown buyers found on various message boards.