Trade in gold jewelry prices
With gold climbing to all time highs it may be a good time to clean out your jewelry box full of broken chains and old rings. Of course you want to get the most for your items, and the only way to do that trade in gold jewelry prices to figure out what you have BEFORE you try to sell it. Download printable instructions PDF. Gold jewelry is made in different purities.
You will need to know what karat your gold is. We will use 10k, 14k and 18k as our examples on how to calculate the value. You will trade in gold jewelry prices to know how much your gold weighs. Gold is sold and weighed in troy ounces. Jewelers and gold buyers use two different calculations, pennyweights DWT and grams G The value of your gold will be exactly the same regardless of what weighing method is used. The spot price of gold is the price it is selling for at any given time.
Since the spot price is changing constantly you will need to know the current spot price of gold to determine the value of your scrap gold. The current spot gold price is listed in the paper or on the internet trade in gold jewelry prices I have it listed right on the home page of this web-site. We will use 14k gold as our example on how to calculate actual gold content and its value.
The same formula works for 10k and 18k. Your 14k yellow gold chain weights Remember, the purity of 14k is We have a scrap gold chain that weighs It is 14k so there is We come up with There are 20 pennyweights in one troy ounce. Actual pure gold content value of chain. We then multiplied Obviously there is cost associated with refining your gold and operating a business so you will not get the full value of your gold.
If you are offered less than this it is not a legitimate offer. At the price of gold now you may be talking about a lot of money. It is worth a few minutes of your time to do a little homework. It is worth a little inconvenience or maybe a slightly longer drive to get the most out trade in gold jewelry prices your old jewelry. Using the above calculations gives you that knowledge. At Used Jewelry Buyer, our job is to educate you with information so you can make right selling decision.
First Name Last Name. Send Us a Picture. Using the above conversions, here's an example: I found my experience with Mr. Hill very pleasant his store is charming inside and out trade in gold jewelry prices a nice part of town. I was greater warmly over the phone and in person. Hill promptly responded to my text and any of my questions before Trade in gold jewelry prices arrived saving me time and gas.
It was a real pleasure doing business with these guys. I was happily surprised by the cash I got for my old, broken jewelry.
In today's swerving economy, stocks are out, and gold is in. If you're like thousands of Americans, you go to a gold party, the hottest trend on the block, where you can have your jewelry appraised and trade in gold jewelry prices paid cash on the spot. With every good deal comes a case of buyer's and, in this case, seller's beware, a reminder that consumers should do their homework before selling their jewelry at gold parties or in a local jewelry store.
The Better Business Bureau BBB advises consumers that while gold parties may be a fun and convenient way to make some cash, they may not provide you the best deal. Follow these tips from BBB to make sure you're getting the best value for your gold. The weight of gold helps determine its value, but keep in mind that jewelers use a different measurement standard called a Troy ounce.
Some dealers may also use a system of weights called pennyweight dwt to measure a Troy ounce, while others will use grams. A pennyweight is the equivalent of 1. Be alert that a dealer does not weigh your gold by pennyweight but pay you by the gram, a sneaky way for the dealer to pay you less for more weight of gold.
Know Your Karats text: Pure gold is too soft to be practically used so it is combined with other metals to create durability and color. So 14 karats would mean the jewelry was 14 parts gold and 10 parts other metals. It is illegal for jewelry to be labeled "gold jewelry" if it is less than 10 karats. It is important to know the karats of your gold to make an informed decision on the scrap value of your jewelry. Keep Your Karats Separate.
Don't let jewelry of different karat value be weighed together. Some dealers will weigh all jewelry together and pay you for the lowest karat value. Separate your jewelry by karat value before attending a gold party. Call a local jewelry store or check with an online source, such as www.
Some dealers know people are just looking for quick cash to put in their pockets and will offer you money for your gold that is lower than the actual value.
Check out jewelry stores and gold buyers registered with BBB at www. A BBB Business Review tells basic information about the business as well as any complaints and whether the complaints have been resolved when presented to the business by BBB.
Know What You Are Selling. Some gold trade in gold jewelry prices may be worth more when sold as they are, rather than if they are melted down. If your gold necklace or bracelet comes from a well-known designer or maker, it may have a value to some buyers beyond the gold it's made of. Know the Fine Print. If you choose to use a mail-away service, make sure you understand the terms and conditions.
Send the items insured. Find out how long before you get reimbursed, how long they will keep your gold before melting it down, and how many days you have to turn down the offer. Take photos of your items before sending and make sure you hold on to all relevant paperwork and filings. Remember, you don't have to jump at trade in gold jewelry prices first offer for your gold.
Shop around for a few different bids. To ensure you are really getting the best price for your jewelry, trade in gold jewelry prices it appraised before selling. This may cost you more up front, but your jewelry may be worth more than its weight when you include workmanship, artistic value, and embedded gems for the piece as a whole. Keep in mind that gold parties, often hosted by friends and neighbors, are really more about fun than value.
Taking all factors into consideration, sellers at gold parties will likely get between 70 and 80 percent of the real value of their item. Gold buyers are required by law to ask sellers for government-issued identification, This requirement is designed to protect consumers by helping police investigate the sale of stolen property and prevent trade in gold jewelry prices laundering. All reputable gold buyers comply with these rules, so ifyou don't get asked to show your I.
Click here to return to the "Good Morning America" website. So how do you cash in? But not so fast. Trade in gold jewelry prices the Scales The weight of gold helps determine its value, but keep in mind that jewelers use a trade in gold jewelry prices measurement standard called a Troy ounce. Keep Your Karats Separate Don't let jewelry of different karat value be weighed together.
Know the Value Call a local jewelry store or check with an online source, such as www. Know What You Are Selling Some gold items may be worth more when trade in gold jewelry prices as they are, rather than if they are melted down.
Know the Fine Print If you choose to use a mail-away service, make sure you understand the terms and conditions.
Shop Around Remember, you don't have to jump at the first offer for your gold. Be Realistic Keep in mind that gold parties, often hosted by friends and neighbors, are really more about fun than value. Court poised to hand down 1st sentence in Mueller probe.
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This is the original Cash for Gold Calculator. What is the right amount to receive for your trade in gold jewelry prices You can walk in and get trade in gold jewelry prices items tested for free to determine the Karat metal purity and the gram weight. Payments are made in Trade in gold jewelry prices. National Gold Market What to avoid when selling Gold?
Like any other business, there are mischievous people who will try to confuse someone trading in their gold for cash, due to the sellers need for money or lack of education on precious metals. If you are looking to get a fair amount for your gold, avoid dealers that will give multiple low offers. If you decide to sell your gold make sure it is a legitimate jewelry store and not a location with a few desks claiming to be a refinery or precious metals specialist.
How to sell your Gold Properly: Call the company you are planning to sell gold and ask them the following questions: Do you pay Cash or Check when you buy my gold and are your checks from a local bank? What is the trade in gold jewelry prices you pay per gram?
Provide the gold buyer you are talking to the proper Karat of Gold you are selling example: If the company representative tells you they trade in gold jewelry prices not pay per gram and only pay by pennyweight you should avoid going to the location. If they reply "We do not quote prices over the phone", then it is in your best interest to start looking for other reputable dealers who can answer your questions honestly and not attempt to deceive you.
Is stone removal free? Remember, some stones are worth more than the gold the stone is set on. They should be paid for or returned to you. What form of ID is required to sell you my gold? If they do not require STATE ID, this means the company most likely buys stolen merchandise and you should clearly avoid the gold buyer.
Ask the Gold Buyer to provide a detailed invoice at the time of sale with a breakdown of items sold to them for your records. Selling gold is just like any other recycling process, except you are dealing with a metal that is very expensive Direct to LA'S Strongest Gold Buyer Selling gold is just like any other recycling process, except you are dealing with a metal that is very expensive