How to Sell Your Gold Jewelry
Knowing how to sell your gold jewelry the right way will help you receive the most for it. First thing you should know is that most gold in jewelry is not pure. Because of this, every scrap gold deal will offer considerably less than what the price of gold is currently at. They will claim that the gold jewelry has to be melted down and that cost money.
While this is true, it rarely happens to jewelry in good condition. Most scrap jewelry dealers resell the gold jewelry they purchase for resale as jewelry. They buy it from unsuspecting people for about 75% of what it is worth as gold and resell it for up to 100% of the value of the gold.
Most gold jewelry has value other than the gold it possesses. There is value in the craftsmanship that created it. It will take longer but selling that unwanted gold pieces online or at an antique shop will bring a better price.
If you are determined to sell your gold pieces to a scrap dealer, find out what their price per pennyweight or per gram is. This is a set number that has a direct link to the current gold prices on the open market. The value of your piece will be determined by its weight and percent of gold it has. 12k is ½ gold with the remainder being other metals, so only ½ of it is being priced. Likewise, with 18karat gold that is ¾ gold will have ¼ of it being other metals. Find out what the daily price is going for. If the dealer will not give you a straight answer or firm number, go elsewhere.
While it is true that the current spot price of gold is over $1000 an ounce, your jewelry will only fetch you a fraction of the gold value it possesses. Know how to sell your gold jewelry so you will not be taken advantage of.