What You Should Know About Gold Jewellery Before You Decide To Sell

What to Do Before Selling Your Gold Jewelry - Watch & Wares

Gold has a timeless appeal to it. This precious metal is mined and processed for various reasons and this is something that has been going on for millennia. The supply of gold from mining operations might be dwindling but there is still a lot of gold above-ground that can been recycled and used to make various items. Recently, Archeologists discovered gold necklaces dating back 15,000 year in Morocco. This is something that was unexpected but this means that gold was used as adornment or a status symbol for Millenia. The way this precious metal is revered, now is not something new.

Today, necklaces, earrings, rings and rings made from gold are considered a luxury item that cannot reach the budget of many people. However, fashion changes and you may find that jewellery that not everyone could wait to buy in the 80s is now considered old fashioned. On the other hand, due to the ever-increasing prices and lack of comparable rewards, you may decide that the best way to cope with some serious cash problem is to sell your gold jewellery. Before you commit to parting with one of your valuables, here are some tips that should help.

Find a good and reputable gold dealer. Cash for gold dealers helps protect the rapidly diminishing, non-renewable metal. Jewellery designers can use old gold to create new pieces that are more in line with modern tastes and trends. However, when you’re facing big or small bills, selling your old gold jewellery can save your life.

Not all gold buyers are the same. There are those that specialize in scrap gold, and then there are those that are more interested in investment grade bullion. There are dealers and amongst them jewelers who buy gold in any form such as antiques, refinish it, or have it recycled for you. Either way, reputable cash for gold dealers will provide a figure based on the weight of the item, its purity, and what the spot price is.

It might do you good to find out for yourself before you approach a dealer. You could weigh the jewellery on a simple kitchen scale, check its purity by looking for the Karat inscription and check what the spot price is.

It is important to note that the spot price is usually given in US Dollars per troy ounce, so if your scale gives weight in grams then you might have to convert the units. Make sure that the dealer you sell to uses the same unit of weight. A troy ounce is 31.1 grams, while an imperial ounce weighs less than 28.3 grams. This can be confusing. If you are good with your maths you can do the calculations yourself otherwise you can go online and find a site that has an online calculator. Gold buyers who trade cash for scrap gold are generally fair and trustworthy because the success of their businesses for most of them depends a lot on word of mouth and favourable reviews.

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