How To Sell Gold Jewelry: Tips To Get The Best Price & More
Selling your gold jewelry can be daunting — with so many buyers out there it can be difficult to determine where to go. You can sell your gold online, to pawn shops, estate sales, “cash 4 gold” sites, and so on. We’ve put together a guide to help you figure out how to sell your gold jewelry and where to get the best price.
Gold Pricing Breakdown: Cost of Gold, Karats, Quality, & More!
What is my gold worth?
Gold has value, plain and simple. Even after we moved to a new currency system in the 1970s, gold holds weight in the form of coins, bullion, jewelry, and more. As of January 2022, the gold price today commands $58.39 per gram, though that number can go up or down depending on the market. To get the most money for your gold, keep an eye on the market so you know when the best time to sell is. A reputable buyer will always monitor the market to ensure you get a fair price for your gold items.
Does the quality of my gold impact resale value?
Besides the fluctuation of the gold market, another factor that can impact resale value is the condition of the piece you are trying to sell. Maybe it’s perfect as-is and just needs a new home. Maybe it’s a bit roughed up, but it’s also a precious collectible like a Rolex or another gold jewelry piece that a collector has been waiting for. Or maybe it’s beyond repair but can be melted down and brought back to life as a new piece of jewelry. The bottom-line is, the quality of your gold jewelry will impact it’s value and what you can sell it for, which is why it’s important to select a trusted buyer who will take factors like collector’s items into account.
How does karat weight impact the value of my gold?
Gold is measured in karats, which is a scale of gold fineness used in the United States. Because gold is so malleable, it often needs to be alloyed with other materials for increased hardness. This can create variations in color, melting points, and of course, price points. Using a standard international scale to measure the purity of gold allows jewelers to know the total gold content per 24 parts immediately. For example: 24 karats of gold is 24 parts of pure gold. It also allows us to adhere to an ethical standard of giving the best price for gold.
Are some gold objects worth more than others?
That depends! Keep in mind that gold coins and bullions can command more value than gold jewelry like rings, necklaces, and earrings; because the rarity of your gold can generate additional value. While coins were meant to be used as currency, their material value can be worth far more than their buying power. If they happen to be of a rare coin and in fantastic condition, they can bring you a pretty penny.
What To Do Before Selling Your Jewelry: Getting a Gold Appraisal
What is a gold appraisal?
A gold appraisal is basically a test to help us determine the true value of your gold jewelry based on the quality, karats, and rarity of your item. As mentioned earlier, there are many elements that impact the value of gold. So, it’s always best to schedule an appraisal with a reputable buyer so you can get an accurate estimate of your gold’s resale value.
Where should you get your gold appraised?
If you have started the resale process, you may have discovered an overwhelming amount of businesses interested in buying your unwanted gold items. Wherever you choose, it’s best to find a reputable buyer that you can trust and that will let you ask all the questions you need to feel comfortable about selling gold!
At Samuelson’s, we use several factors in our gold appraisal process to give you the fairest and best price for your piece of jewelry. This includes a gold purity test, a review of what similar collectibles are going for, and the price of gold today. Those factors combined help us give you a fair assessment and allows us to give you a competitive offer for your valuables.
The benefit of selling gold with Samuelson’s is we’ve been doing this for 100 years. We’re committed to giving you a fair price — and we can do that because we’re unbiased. When we assess your gold, we’re looking strictly at the worth of the piece to make you a great offer.
Sell Your Gold Online or In-Person Today
We make it easy for our customers to get a fair offer no matter where you live! We understand the value of convenience which is why you can even sell your gold online with us using our free shipping kits! If you are interested in selling in person, you can schedule an appointment to visit one of our three locations or feel free to give us a call at 301-804-6176 if you have any questions. We are here whenever you’re ready to learn more about the value of your gold!
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