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3 Tricks for Selling Gold

Be it gold heirlooms handed down from generation to generation, that you want to sell or you are just eager to rid yourself of unwanted jewelry from a past relationship, there are ways to go about selling your treasures. In fact, three are discussed below.

You can stay abreast prices of gold at Kitco.com.

You can stay abreast prices of gold at Kitco.com.

Selling on the Fly

1. The prices for gold are at an all-time high. Anxious to have a few extra bucks in hand, many are making a mad dash to pawn shops, jewelry stores, refineries, gold buying shops and gold parties, to sell their jewels. Mail-in buyers have become quite a hit in recent years, as well.

But, even if you are not experienced in selling your baubles, you don’t have to appear to be. Why? You can stay abreast prices of gold at Kitco.com. Be aware that the listed price is not the price you will receive for your jewels; the price on this site merely gives a reference point. Kitco.com, in short, allows you to have a better idea of the money you may receive. Either way, it can’t hurt to check it out.

2. Along with the former, you should know what you are intending to sell. Is your jewelry 10-, 14-, 18- or 24 karat (carat in England) gold? The commonality is that most jewelry in the United States is either 10-, 14- or 18-karat gold, which means that it is composed of gold and other alloys. These alloys harden your pieces and make them more durable, too. Twenty-four karat gold is considered pure gold. And, what many don’t know is that when selling your gold, you only get paid for the parts that are pure gold. There are however many karats of gold, included is 12- and 22 karat.

3. This may seem a little odd, but weigh your gold using a scale in your kitchen. To help simplify things even more, you can use an online calculator, Dendritics.com, to convert the weight into pennyweights (troy ounces). Troy ounces are the most common measurements for gold, to determine your gold’s value. So, once this site helps determine the value for your pieces, don’t be afraid to do your part and shop around for the best prices.

Padding your Pockets

This is only a sampling of things you should know about before even entertaining the thought of selling. Learn as much as you can about the gold-selling market before you decide to part with your items. After all, once they are gone, they may be hard to retrieve — cheating you out of a fair price and stripping you of your gold.

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Web Links:

http://www.jic.org/?page=selling-gold-jewelry;

http://www.appraisers.org/Consumer/ConsumerLibrary/SellingGoldandPreciousMetalJewelry.aspx;

http://www.bbb.org/upstate-new-york/industry-tips/read/tip/selling-gold-tips-223;

http://www.clarkhoward.com/topics/sell_your_gold/;

http://www.nyc.gov/html/dca/html/pr2011/pr_122211.shtml

-Kimberly Williams

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