Tips For Selling Gold Jewelry

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We all see the ads on television - get quick cash for unwanted gold with thousand of happy customers flashing tons of cash in front of tv cameras. Due to new high gold prices many citizen are inspecting selling gold jewelry for cash. There are a few things you should think when you determine to sell your gold jewelry. I am a firm believer that knowledge is power and you should know what you have and know what it is worth before trying to sell your gold jewelry.

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First you need to perceive how much gold is in your jewelry. Most dealers base their pricing solely by the scrap metal value of your gold so it is worthwhile to look at the gold marking to determine carat weight. In most countries by law, the carat stamp is a requirement on any gold jewelry to be sold in shop and it is the first indication of the gold article in any gold jewelry coming from a reputable seller. Most items in the North American shop would be marked 10k, 14k, 18k to show the Syn. Clearness of gold in a singular piece of jewelry. European standard is separate and it is measured in parts per thousand and would be stamped 416, 585, 750. I will discuss what that means below.

10k Gold Price Per Gram

If you have gold filled jewelry, electroplated jewelry or gold plated jewelry then in most cases it would not be worth to try and sell them for the gold article and most dealers will refuse buying this type of jewelry. The most tasteless stamps for such items are Gf (gold filled), Gp (gold plated) and finally Egp (electro gold plated)

10k Gold Price Per Gram and Tips For Selling Gold Jewelry

The 10k Gold Price Per Gram.

Gold karats are expressed in units of 24ths. Thus, pure gold is 24-karat or 100 percent gold, 18-karat is 75 percent gold, 14-karat is 58.5 percent gold (585 european stamp), 10-karat is 41.6 percent gold (416) and so on. The conversion is simple; divide the karat value by 24 to get the percentage of gold, ex: 10/24=0.416 and so on. The price of gold which we all see on Tv is based on a troy ounce which is practically 31.1 grams of pure 24K gold in standard replacement form such as bars or coins. If you are selling gold bars or coins, the spot price is what you should be aiming at but keep in mind that any offer from a dealer will all the time be slightly less than shop value since the dealer has to make a profit.

Cash value for gold jewelry is much less than the appraised value and there are a few reasons for that. First of all, the appraised value of a jewelry piece includes the labour and the sell mark up of your gold jewelry since the appraisal is most likely done for guarnatee replacement costs of a singular piece. sell mark ups on jewelry are fabulous and most citizen don't perceive that when they try to sell gold. The reason is simple; since jewelry is a luxury item and doesn't go out of style, become obsolete or break down like an electronic item (stereo, tvs, etc), it often sits on display for months and even years before being sold at a sell store, and since every jewelry store has high overhead, jewelry is often marked up by as much as 600 percent to turn any profit. You have to assume unfortunately that the price offered for your gold jewelry will be much less than you paid for it. The value of gold permanently fluctuates and depends on many factors. all the time check the current price before selling and take a note of it when shopping colse to for a quote.

My guidance is to avoid mail in gold buyers. Most of these companies have a high overhead and advertising costs and you will lose some operate when you mail in your jewelry since you can't be there when your gold is checked and weighed. I have heard many complaints from my customers concerning such services and while they may be beneficial for man who doesn't have the time to shop around, such customers end up paying for this convenience of getting a check in the mail. Know what you are selling first if at all possible!!! Go to two or more dealers to get quotes. Most reputable dealers will be willing to tell you how much they will pay for your piece for free and with no obligations.

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