Tips For Selling Your Gold Jewelry For Cash

Posted on: 18 March 2019

If you're in need of quick cash or if you just have a bunch of old jewelry you want to get rid of, then you should think about selling your gold items for cash. With the high price of gold, it could be worth it to get cash for your pieces rather than let them sit in a drawer. Just remember, the price for gold you see quoted in the news is for solid gold and jewelry has other metals mixed in so the price is lower. Here are some tips for selling your gold for cash.

Decide If You Want To Pawn The Items

The first decision you have to make is if you want to get the jewelry back or if you want to get rid of it permanently. If you have money coming in soon, then you may be able to pawn the jewelry and buy it back when you have the cash. You might want to do this for sentimental pieces such as a wedding ring set. One benefit of pawning an expensive piece of jewelry is that you get it back when you pay off your pawn loan so you can use it as collateral for another pawn loan in the future. However, if you have no interest in pawning the jewelry, then you can sell it to the pawn shop for cash outright and let them sell the jewelry as they wish.

Know The History Of The Jewelry

If you accumulated the jewelry new over your lifetime, then you know its origin and history. This helps you realize its true value. If you're selling inherited jewelry or if you've bought antique jewelry over the years, then you want to have the jewelry appraised based on its value as a vintage or historical piece. The jewelry may only be worth the amount of gold it contains, but it might be worth more if it's from a certain time period or made by a certain designer.

Know The Karats

It's a good idea to separate your gold jewelry by karats. You can usually find this information by looking at the pieces with a magnifying glass. The higher the karats, the more gold in the piece of jewelry. By keeping the karats separate, you know you'll get paid what the jewelry is worth based on weight. You can even call gold buyers ahead of time and ask what they're paying for gold that day so you can estimate what your collection might be worth based on weight alone.

For more information, contact your local cash for gold professionals today. 


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