Need To Make Extra Money? 3 Tips To Sell Your Gold Jewelry

Posted on: 15 March 2019

If you need to make some extra money to pay bills, save for a vacation, etc., you can do this by selling gold jewelry that you may have. How much you make will depend on the type of jewelry you own, however. To get started, below are three tips to help you sell your gold jewelry so you can get extra money in your bank account.

Determine the Amount of Gold

The first thing to do is to determine the amount of gold that is in your jewelry. You can do this by knowing what carat of the gold is. There may be a carat stamp on your jewelry. If you see this you may see a GF stamp, which stands for gold filled. You may also see a GP stamp, which stands for gold plated, or an EGP stamp, which stands for electro gold plated. If you see GF, then you have jewelry that has the most gold. Buyers will not even consider purchasing gold that is stamped with GP or EGP.

If your gold jewelry is old, you may not see a stamp. If so, take the jewelry to a jeweler to determine how much gold you have. The jeweler does this by doing a special type of acid test. Ask the jeweler for documentation when they finish the test so you can show a buyer.

Get Jewelry Appraised

Many gold buyers will base their offer by the weight of the gold.  Because of this, take your gold to an intricate or antique jewelry appraiser to get the right weight of your gold jewelry. When finished, the intricate or antique jewelry appraiser will give you a document that shows the weight of your gold, as well as what your gold is worth. Besides the weight the appraiser will also look for markings and the shape the jewelry is in.

When you have this done you have something you can show to a buyer to ensure you are offered a fair price.

Find a Gold Buyer

Once you determine the value of your gold you need to find a gold buyer. You can check online for buyers. This may be personal buyers or companies that buy gold. Some jewelry stores will buy gold. You could also take your gold to a coin dealer.

Look online at bidding websites as you may see people there selling gold. With this you set a certain price you will sell the gold and then let people bid. In many cases you will go much over the selling price you set. You do need to ensure you put a good image of the gold jewelry.

There are also online businesses that buy gold. With this you will send the business the jewelry and they will then send you money. You must be careful when doing it this way and make sure the company is reputable. You should have no problem doing this as there are many companies online that buy gold.

Take your time when selling your gold jewelry so you do not make any mistakes.


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