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.