Knowing how to sell gold jewelry to get the best value requires a little knowledge, a magnifier and a jewelry scale. First comes knowledge: before selling gold, it’s best to research companies which specialize in gold buying. At the very minimum, you should expect a gold buying company to provide a safe, insured method of in-bound shipping, posted prices which are updated daily and you should expect the cash for gold company to provide written estimates which you must view and approve before being paid. The next step in learning how to sell gold jewelry is to sort your gold jewelry by karat.
Laws governing how to sell gold jewelry require manufacturers to stamp jewelry with a karat marking representing the percentage of fine gold content in the piece. For example, 14K represents 14/24th pure gold content – or 58.3% gold. You might need to use a jeweler’s loupe or magnifier to read some markings. If you’re serious about learning how to sell gold jewelry, it might be worthwhile investing in a jeweler’s loupe which provides the correct magnification for viewing karat markings and hallmarks. Hallmarks indicate the manufacturer of a piece of jewelry.
Before you sell gold jewelry, it’s best to weigh the gold jewelry you wish to sell on a jewelry scale set to pennyweights or grams. Scrap gold buyers purchase jewelry by karat and weight, so knowing the weight of the pieces you wish to sell as well as their karat are the two most important factors in selling gold jewelry. Then use GoldFellow®’s Scrap Gold Estimator for today’s scrap value. Using this information about how to sell gold jewelry, sellers should be able to compare business practices and pricing from several dealers and make an informed decision.
GoldFellow® executives are often sought out by local media to provide tips on how to sell gold jewelry. Jen Herrera, a local 10 reporter in Miami visited GoldFellow®’s Weston, FL headquarters and walk-in store as well as several other local gold buyers – and did an informative piece on how to sell gold jewelry. She highlights the importance of understanding what you have, what it weighs and the importance of using a reputable gold buyer like GoldFellow®.
http://www.goldipedia.gold.org/jewellery_information/gold_purity/ – World Gold Council – Gold Purity
http://www.local10.com/money/29110843/detail.html – Local 10 Miami