Selling gold may seem like an easy way to get instant cash at your hands but what if you don’t get what you should be getting? It can be a little tricky but might even turn out to be a good deal for you if you know your way across the whole process. So let’s talk about the pre-selling tips that would help you get the best price out of your gold selling.
Determine the ‘right’ time
The ‘right’ time refers to the time when the gold prices are fairly high as compared to the previous one. This happens when the stock market is going low and thus the gold prices rise up higher than ever.
However, the right time can also vary according to your need. This means that your ‘right’ time can also be when you need money in exchange for your gold.
Check current gold spot price
Checking the current gold spot price can also help you get an idea of how much you would get for your gold at a specific time.
Since the spot price keeps changing and is dependent on the worldwide demand, it is better to be aware of it before you are ready to sell off your gold pieces of jewelry or bullions.
Negotiate not Bargain
If you feel like your buyer (whether online or in shops) is not offering a price that is suitable for you, you can always negotiate. And a lot of buyers are open for negotiations in case of prices.
However, that does mean you start bargaining unrealistically and lose a potentially good buyer. If you deal in a professional, formal way, you might end up with a better price than initially offered.
Choose the right buyer
In the gold-selling business, it’s always better for sellers to go for specific buyers when it comes to different gold pieces.
For example: If you have gold bullion or a gold coin to sell, you’d probably get a better price for it from someone who deals with gold coins and bullions.
Similarly, if you have a branded gold jewelry to sell, the best buyer for you would be someone who collects these brands or deals with their products.
But make sure you know that there’s a selling opportunity because not every jewelry store will buy your gold.
Visit shops and compare
The most fool-proof way to get the best price for your gold product is to know what and how much others are offering.
There’s no harm in getting quotes from different buyers online and in stores and then choosing the best fit for yourself.
So before you settle on one buyer, we’d advise you to do some leg work and go to the local jewelry stores, like Master Jewelers. This is only to get an idea of how much you should be expecting off of your gold items.
Be prepared to say No
As a seller, it is your decision to make a deal or turn it down. If you feel like the buyer is not offering enough, just say no and keep looking out for other (much better) prices.
The market is full of people who may offer you a price close to what you want so don’t give up.
Do you plan on selling off some or all of your gold for money? Are you looking for the best place to sell your gold jewelry? Worry no more because here we’ll guide you through the potential market places and buyers.
People sell out their gold jewelry, gold bullions, and even gold coins in return for some instant cash. But what are your options and what should you know about selling gold before you do so? Let’s find out.
What kind of gold can be sold?
We all own some kind of gold at our home, right? Be it in the form of gold jewelry or gold coins, there’s always a bit if not a lot that we can let go of.
But, not everything gold can be sold or holds a lot of value. This is particularly relevant for gold plated or gold filled items because they’re not very valuable. Buyers don’t really get a lot of ‘pure gold’ out of them so they’re not very desirable.
However, gold coins and gold bullions contain a significantly high amount of pure gold. Thus if you have it in this form, you’ll probably get a good price for them.
As for gold jewelry, again, it depends on the amount and also the karatage of gold used. The higher the karat of gold, the higher the price.
How can you determine the worth of your gold jewelry?
A simple way to determine this is by using a Gold for Cash calculator or come into Master Jewelers and get it appraised.
All you have to do is to add the weight of your gold item and it’s karat. The calculator will provide you an estimated value of your item.
Online stores like Master Jewelers are a great place to sell your gold items. Why? Because they offer prices higher as compared to the other competitors.
But the downside is that you’d have to send your items to them for appraisal first and there’s no ‘instant cash’ receiving option.
Pawnshops generally deal with buying gold jewelry at a lower price than online and jewelry stores. This is just a part of their business because they’ve other things (e.g. commissions) to consider as well out of their buy.
Depending on your gold’s spot price, weight, and karat, you might not get the best offer for your gold item here. But you will get your money instantly without having to send or ship your item to them first.
Local jewelry stores
When it comes to selling at local jewelry stores, like Master Jewelers, it’s always better to call and ask if they deal with buying gold first. Why? Because not all jewelry stores buy gold items like that.
Their prices are also comparatively lower than that offered by online stores but similar to the pawnshops, you’ll get your money right away.
In modern times like now, the fashion industry has seen and adopted some major changes. And when it comes to accessorizing yourself, the possibilities are endless.
Traditionally, silver and gold were not paired in one outfit. But now? It’s a style statement. You might be able to come up with some funky or even elegant looks simply by mixing your jewelry pieces.
Can gold and silver work together?
The answer to this is a BIG YES. Silver and gold are in fact a great match together as a part of jewelry. They can upgrade your look if you know how to style them well.
These metallic colors complement each other without masking the beauty and elegance of each other.
How to rock your mixed and matched jewelry?
When it comes to pairing up your silver and gold pieces, it is important to know how to make them seem less ‘in your face’. You get my point, right? For example, if you’re going for a silver chain in your neck, you can contrast it by using a gold pendant.
Another great way to rock your style with them is by wearing them in a layer form. Like for instance, you can pair your long gold necklace with a smaller petite silver necklace higher up.
When to use this hybrid style?
Okay so knowing when to experiment with this hybrid style is the key to rock them on your outfits. Since gold and silver have a lustrous shine to them, they look ethereal over formal clothes.
Especially the heavy pieces with intricate work on them like necklaces and earrings match perfectly with semi-formal to formal outfits.
However, smaller and lighter pieces like rings and bracelets can be styled with street style or simple casual looks as well.
What to avoid when you mix silver and gold accessories?
When you take the brave decision of mixing silver and gold accessories to your look, you need to make sure that they’re the center of attention. Other accessories like belts and bags do not need the spotlight. Otherwise, what’s the point of your jewelry being there?
Another mistake that people make is that they mix colors with style. This ultimately results in an absurd look altogether. Even though fashion trends today are appreciated even if they’re unconventional, it does not mean that you go crazy. So when you think of pairing up your outfit with gold and silver jewelry, make sure it does not clash with the color and condition of it.
The use of gold in jewelry making has been there for centuries. It has always been and probably always will be one of the most expensive yet exquisite metal to own. However, in the older times, gold was used in its pure, solid form in jewelry. But now, we have a little less heavy on the pocket version of these ‘gold jewelry’. Can you guess what it is? Gold plated jewelry!
Where can you find gold plated jewelry?
Gold plated jewelry is available at all local jewelry stores and online as well. Almost every jewelry company and market nowadays has gold plated jewelry included in their stock. You can easily come across a huge variety at Amazon. They are much cheaper options for anyone who wants their jewelry to give the impression of gold without actually being gold.
How do I know if my jewelry is gold plated or real gold?
Well, there’s no rocket science in determining if your jewelry is gold plated or not. Here’s how to be sure about the legitimacy:
The very first difference is the price point. A gold plated piece of jewelry will not cost you as much a pure gold piece would.
Secondly, gold plating tends to wear off while real gold hardly shows signs of flaking.
Thirdly, gold plating is usually more ‘vibrant’ looking. The tinge of golden color in gold plating is brighter than in real gold because of purity differences.
What is the worth of gold plated jewelry?
Generally, gold plated jewelry is not worth a lot. And that’s justified because it is just a layer of gold on another metal.
Does gold plating last long?
Gold plating would last long if you take care of it. Perhaps it can even last you a good 1-2 years considering the fact that it does not face any harsh exposures like sweat or acid.
How can I make my gold plated jewelry last long?
The best ways to keep your jewelry safe from tarnishes and have them last longer are:
- Cleaning them regularly with a mild cleaning solution
- Avoiding exposure to chemicals and friction
- Making sure you touch them with clean hands
Does gold plating trigger any allergic reactions?
In the initial days, it might not cause any allergic reaction but overtime, you might feel itchy and it may trigger reactions. However, this is only because of the metal underneath it that starts to penetrate through the gold layer and not the plating itself.
Can gold plating be compared to real gold?
Yes and No. Gold plating cannot be compared to the worth of real gold but in looks, there’s not a major difference. The gold plating is meant to create an illusion of real gold on your jewelry but at the end of the day, it’s just a layer of gold.
Modern has been around for quite some time now and is very popular. With the deposition of one metal (gold) on another, you can create the same look (at a much lower price) easily. How cool, right? This particular method is usually done on jewelry in the form of gold plated jewelry.
What is gold plating?
Gold plating is a technique in which a thin layer of pure gold is deposited onto the surface of another metal to create a ‘gold-like’ look. Thus it helps mimic the more expensive jewelry pieces at a rather lower price.
Is gold plating of real gold?
Yes! The gold plating makes use of pure, real gold itself. However, the amount of gold used is different from pure solid gold. It’s just a small amount. But the purity level of gold in gold plating and solid gold does not vary.
Most gold plating is done using 24k gold. This ensures that you’re able to achieve that lustrous gold shine on your jewelry.
What is the process of gold plating?
Gold plating is done in 3 steps:
- Cleaning the base metal and removing all the pollutants and dirt from the surface. This will help to achieve the best results because the cleaner, the better.
- Plating a thin layer of nickel on the base metal. This helps keep the gold layer on top safe from the metal underneath which could potentially destroy it.
- Dipping the metal into liquid gold and plating the gold onto the metal surface using the positive charges.
How much gold should be plated for a gold plated look?
Ideally, gold plating of 0.5-1.0 micron thickness is preferred but a simple gold plated look can also be achieved by plating gold of a minimum 0.17 microns thickness.
However, this can vary depending upon the jewelry type and also on how long you want it to last. Thus, if you want your jewelry to have a long-lasting gold plated look, heavy gold plating of 2.5 microns is the best.
Which metals can be gold plated?
Metals like Silver and Copper are most commonly gold plated. But other than that, brass, nickel, stainless steel, etc can also be used.
What is better? Gold plating at home or the plating service?
While at home-gold plating sounds fun, it may not give you the most flawless results. Thus, It’s always better to get a proper gold plating service done by experts. But that’s your choice, if you want to save money or have lots of jewelry that has to be gold free grammar check plated, you can always try those gold plating kits.
Gold has been a part of various heritage and cultures since forever. It was first discovered in India and is the most popular metal used in traditional Indian jewelry. The British even referred to India as The ‘Golden Sparrow’ because the Indian land was full of precious metals and stones including gold.
Thus, people not only buy it for themselves as an accessory but also consider it sacred to an extent. The use of and its popularity has continued for a long time. But why should you buy gold and is it the right time?
A Golden investment
Gold in itself is a precious metal that does not lose value easily. If you plan on investing in gold, you’ll stay in profit because barely go too low in the market. Even if they do, it doesn’t make a drastic difference overall. If you buy it now, you’ll have something valuable for all your life.
Gold has always had great significance in many traditions and cultures. Whether you take it is a family heirloom or new gift, it traditionally has a significance. Even for wedding seasons, opting for gold jewelry is always a good decision. It can help you achieve a regal look at all these festivals and weddings so it’s worth investing in.
Convenient to buy
Buying gold is extremely easy. All you need to do is go to any jewelry store that you love like, Master Jewelers and get your favorite gold setting instantly. And you can even buy small gold items or other forms of gold at your convenience over the months. These can be a very good investment without being too heavy on your pockets.
Great for Gifting
With the festive season around the corner, can be a very thoughtful option as a gift. Even a small gold ring that you buy can be given a gift because who doesn’t love gold, right? Gold never goes out of fashion so you better buy it right now before it’s too late.
Source of Instant cash
Like we’ve mentioned before, owning gold and buying it is an ever-growing form of investment. Why? Because if you have gold at your home, you can easily sell it off for money. Particularly in times of natural adversities like pandemics or during wars, gold prices always paper writing service go up. It does not lose much worth over time so your gold stock can result in monetary profit to you in hard times.
Gold jewelry is undoubtedly an excellent investment if you’re interested in wearing it. The experts have long endorsed the psychological and financial benefits of this personal investment. But is gold jewelry good as a purely financial investment? Investors seem not to think so.
Some important arguments are put forward
Experts say it’s a good thing to keep in mind that gold jewelry comprises 43% of the total demand for gold, and jewelry manufacturers can charge way more than the base value of gold because of the craftsmanship put into designing the jewelry. This inflated price is then subject to a variety of taxes, making gold jewelry way more expensive than the actual value of the gold.
When is gold jewelry a good investment? Should I Buy Gold Coins Instead?
Gold coins are less practical than jewelry simply because they have little practical use as they cannot be worn or integrated in an outfit. This makes an oz. bar of gold or an oz. of gold coins less costly than 1 oz. of jewelry. The fact that the value of gold coins is linked to the true value of the gold and not to any craftsmanship or visual appeal makes gold coins and bars much more practical investment. Gold coins are very easy to purchase nowadays and can be bought instead of jewelry or bars. Buying coins from a reputable online store can help prevent you from being duped for fake gold.
Is gold jewelry a good investment for the gold value?
The price for an oz. of a gold bar or coins can easily be calculated using the current gold rate while calculating the worth of a necklace is much more complicated as you need to consider the dealer’s share and the design’s worth. Again, this makes gold coins a much more practical financial investment. Gold jewelry can be invested in if you want and intend to use the jewelry so that you can get its full worth.
It is, however, a simple fact. Gold in any shape and form is a great hedge fund against inflation.
10-karat and 14-karat gold are the two most widely used metals in jewelry. Today, we will be helping you understand the difference between the two.
It’s good first to understand that the two are gold alloys made by mixing other metals to the soft gold to increase durability. The amount of gold in the alloy is measured in karats: 24-karat being pure gold.
What Is 10K Gold?
10-karat gold consists of 10 parts gold and 14 parts other metals such as copper, silver, and nickel. 10-karat jewelry is usually stamped with the marking 10K, 10KT, or 0.417.
What Is 14K Gold?
14-karat gold consists of 14 parts of gold and ten parts of other metals. Jewelry of this alloy is marked as 14K, 14KT, or 0.583.
10K Gold Is Cheaper Than 14K Gold
A key difference between the two types of gold is that 10K jewelry is usually cheaper than 14K items because of the lower gold proportion that it contains.
14K Gold Has a Better Color
In appearance, 14K gold understandably has a somewhat yellower color and is more similar in appearance to pure gold. This is not noticeable to the common eye, though; 14k gold does however tarnish quicker.
10K Gold Is Harder
Lower gold content doesn’t mean lower quality. This gold standard has its benefits. The major one being it is more durable, tarnishes slower, and gets scratched less frequently.
10K Gold: Not for People Allergic to Nickel
10K gold contains more nickel than 14K gold, which is why it is less suitable for people allergic to the metal as it may cause skin irritation and other symptoms.
Things to keep in mind when selecting 10K and 14K Gold
10K and 14K gold have their own merits, and none of them can be said to be superior to the other in all aspects. If you’re looking for a piece of jewelry, 10K is better due to its higher durability and lower cost. As for appearance, it is up to you to judge whether any of them looks better. If you’re looking for diamond jewelry, 14K may be the lowest karat of gold available, leaving you no choice in that domain.
Gold rates have started hitting record highs as the financial uncertainty of the situation has caused people to start hoard the precious commodity. Selling jewelry has never been easier as there is no shortage of choices on how to sell, ranging from your local pawn shop or to an online jewelry store. Even eBay has added a new section to its website called the Bullion Center, a place for people to trade bullion including but not limited to gold and silver coins and bars. No matter where you decide to sell your metal, here are some tips to keep in mind while doing so.
Check out all your options: Always get a quote from at least a couple of local jewelry shops to have a base price in mind while negotiating offers. This also makes sure you’re not cheated out of your jewelry’s actual worth.
Always read the fine print: Consumers are always advised to make sure they read all the terms and conditions while making a deal especially online. Even legitimate online dealers can cause you to lose money by surprising you with hidden costs.
Don’t mix karats: ‘Gold parties’ are a relatively new way to sell gold. Though they may be convenient, you may not always get the most for your gold as many cuts have to be paid. At some places, it is weighed together and valued according to the jewelry of the lowest karat.
Beware rogue buyers: “Hotel” buyers are known to move from town to town setting up camp in hotel ballrooms, promising high buying rates but end up paying a lot less before disappearing.
Check credentials and look for reviews: Always check these before dealing with a potential buyer. Legitimate buyers always have a state-issued license to buy gold and are required by law to ask for picture ID when buying from you.
Observe the scale: Though pawn shops and jewelry shops are regularly checked for compliance to weighing regulations, hotel or house-based buyers could pay you less for more gold by altering the units used while weighing your jewelry.
Is it scrap or history? Before scrapping your jewelry, you should check whether your item a valuable antique that could attract a way higher price than its scrap value.
Master Jewelers, a jeweler you can trust, will purchase your gold jewelry. With over 20 years of plus experience in jewelery industry, you know the value of jewelry is more than just money. Visit us online
Before you start selling your gold jewelry, here are some of the greatest tips you need to follow.
Don’t rush, take your time!
Before you begin selling your ornaments, make sure you spend enough time examining every piece of your jewelry. Jewelry often holds sentimental value, so make sure the emotional worth it carries is greater lesser than the cost price of the product or else go for the worn-out and lost pair pieces.
Your buyer must know the worth of your jewelry
Ensure the company you are selling your jewelry to is a legitimate market with a proper license to buy your gold jewelry. Check their customers’ feedbacks section and see how satisfied they with their buying are and selling of the company’s products.
Know what you have
Most gold jewelry is not pure gold. It comes in a certain amount of gold mixed with other alloys that ranges from 10, 14 or 18 karats and so on. You will only be paid for the gold that your jewelry contains.
Consider the right evaluation
The intricate and antique jewelry that is costly and seemingly in demand needs to be evaluated by the right person before selling in the market. The evaluation must be done on the significance of the piece and its current demand in the market. There’s a high chance that it would be beneficial to sell it as a finished product.
Know the worth of your jewelry
Keep yourself updated with the market price of the jewelry. The prices may vary but will give you a rough idea of the worth of your piece.
It is recommended to keep a photograph and an official copy of your gold’s document as it will help you get a reimbursement in case a mishap takes place.
Try your luck everywhere
Get good rates bids from multiple buyers before you choose one buyer. Your offers may differ from buyer to buyer depending where you sell it.
Selling your jewelry will not necessarily make you rich. You will only be paid for the amount you sold your jewelry for after deducting the amendment charges.
Master Jewelers has over 20 years’ experience within the jewelery industry. Contact us today to sell your gold.