How to Sell Unwanted Gold: The Only Guide You Need

The current price of gold is at an impressive $1,600 per ounce. If you have gold jewelry laying around that you don’t wear, then now is the perfect time to sell it.

To get the most for your gold, you need to know some essential tips. This will help you avoid common pitfalls while also ensuring you get the most cash.

Follow this guide when you sell unwanted gold and get a fair offer for your unwanted jewelry.

Time Your Sale

Selling your gold means that you’re getting cash for the weighted value of the gold contained in the jewelry. It does not give you money for the sentimental or market value of the piece of jewelry or the stones included. Because of this, selling your gold is all about timing it to the market.

Don’t act on impulse and try to time your sale when the market is favorable. It also means you shouldn’t sell something that has great emotional value for you.

Get an Appraisal

You need to know what your jewelry is worth before you attempt to sell it. Getting your jewelry appraised can help you understand what you have. First, this will tell you what the weight of the jewelry is.

Second, you may find that your jewelry is worth more as a piece than by the weight. This is common for antique, intricate, or designer jewelry. If this is the case, you’re better off selling the jewelry than the gold.

Sell to a Reputable Buyer

It seems as though cash for gold locations have popped up all over the place in recent years. But this also means that there’s a higher risk of choosing an unsavory buyer. A reputable buyer will have a license to buy gold in your state.

They should also be a member of a jewelry association. The Jewelers of America holds its members to high professional standards. You can also check with the Better Business Bureau for a company’s reputation.

Protect Your Jewelry

You’ve probably seen ads for “we buy gold” services that allow you to mail in your gold. They tout this service as convenient and easy. Simply put your gold in an envelope and mail it off.

These are 100% a scam, and you will never get a fair amount for your jewelry. By the time you get your check, your jewelry is long gone. Instead, take your jewelry to a local physical location.

Even when you’re at a local buyer’s store, you still need to protect your jewelry. Buyers like Crown Gold Exchange respect their customers by doing everything in front of them. This approach develops trust and lets buyers see every step of the process.

Sell Unwanted Gold Today

By following this guide, you should be able to sell unwanted gold for cash. This will clean out your jewelry box and give you some extra cash. To get the most for your jewelry, you’ll want to time your sale, know what you have, and find a reputable buyer.

Browse our money tips category for advice on saving and investing.

Jeff Campbell

Jeff Campbell is a husband, father, martial artist, budget-master, Disney-addict, musician, and recovering foodie having spent over 2 decades as a leader for Whole Foods Market. Click to learn more about me

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