How to Sell Gold Jewelry

By Megan Curley

  • Overview

    Over the years your jewelry collection can grow quite a bit. Gifts from your spouse, relatives or even flea market finds can overcrowd your jewelry box. Selling your gold jewelry is a nearly effortless way to make some cash while clearing out your clutter. The value of gold runs averagely high during a stable economy. When the economy slows up, the value soars even higher.
    • Step 1

      Clean out your jewelry box. Collect all of your gold jewelry. Spread it out on a table or desk to get a good look at what you have. Separate the good and meaningful jewelry you wish to keep. Make sure it is put safely away in your jewelry or keepsake box. Prepare a separate box or zip-top bag for the jewelry you want to sell by labeling it to avoid any confusion.
    • Step 2

      Sort through the gold jewelry you wish to sell. You will save yourself time by making sure the jewelry you have is, indeed, gold. Check for a small stamp in the metal which indicates the purity of the gold by the number of karats, such as 14k, 18k or 22k. This stamp is usually on the clasp of necklaces and bracelets...and on the inside band of a ring. The higher the amount of karats, the higher price you will receive. Make sure the items you are selling contain a stamp of 14k or higher.

    • Step 3

      Choose a reputable jeweler. If you don't already have a relationship with a trusted jeweler, ask friends and family for a recommendation or search your local phone book for names. Jewelry stores and pawn shops are plentiful; small shops and family owned stores in strip-malls or larger sized jewelry centers or outlets can be found in most towns and cities. Avoid most chain jewelry stores as they are in the business of selling jewelry, not buying.
    • Step 4

      Ask the jeweler or pawn shop owner if they are interested in buying your gold jewelry. If they are in the position to buy from you, they will agree to appraise your jewelry. The jeweler will appraise your gold jewelry by checking the number of karats and the total weight of the gold. After the jeweler weighs the ounces of gold, he will calculate how much your jewelry is worth using the current price of gold per ounce. The jeweler will pay you for your jewelry, and your transaction is completed.
    • Step 5

      Send your gold to a cash for gold program through the mail. Many of these companies advertise on TV and are also Internet based like Get Gold Cash and Gold Kit (see Resources). These types of companies usually provide you with an envelope to fill with your gold jewelry and return to them. This method is riskier than taking your jewelry directly to a jeweler since the gold is no longer in your hands. Use caution when selling your gold to a company such as this one. Always check with the Better Business Bureau and try to get references from satisfied customers.
    • Skill: Easy

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