If you have pieces of gold jewelry that have some value, selling them could help you get through a hard time or provide a little capital to buy something for a family member. Now selling gold jewelry is quite a different endeavor than selling gold coins or bars because these gold products have both intrinsically different value and purposes with coins and bars often being used as wealth protection. In some cases, you may even want to consider taking out a loan against your gold jewelry if you need cash but don’t want to sell. But if you do wish to sell gold jewelry denver co, there are some ways you can do this for a reasonable price.
Figuring Out Your Gold Jewelry Value
One reason why gold jewelry typically doesn’t sell as well as coins or bars is because the purity value will usually be somewhere in between 10 karat or 18 karat, and it can never be 24 karat because gold is too soft to be used in creating jewelry. But the higher the karat value that’s listed on the jewelry product, the more it will be worth and the more leverage you can have in asking for a higher price. While jewelry usually will have the karat value listed, you could get a testing kit if you don’t know what it is or take it to a reputable jewelry store to have it tested. But you should use references from a gold authority to make sure you know exactly what you have.
Deciding On Where To Sell Gold Jewelry
The all-important decision you’ll have to make with your gold jewelry is where you’re going to sell it, and unfortunately there are so many unscrupulous buyers out there that this article warns about. Usually when you see ads or storefront signs that say something like “we pay top price for gold,” you can bet it’s usually at the very low end. Jewelry stores themselves often will make much better offers for good jewelry than pop-up gold stores or pawn shops, but sometimes you may even do better by selling online to a high-quality gold or jewelry dealer. Now it’s absolutely important that you check carefully on who you’re considering selling your jewelry to make sure they have a reputation of returning it if you don’t want their offer. Vintage jewelry or specific jewelry brands can usually land a higher sales price than random products that are a bit worn.
The bottom line is it’s important to take your time to organize your gold jewelry and compare offers since they can have quite a range. Typically, you probably shouldn’t expect offers for more than about 70℅ of your jewelry’s appraised value unless it’s in top condition and has a tremendous collector value in it. But if you have it appraised beforehand and can take up less of the dealer’s time during the price negotiation, you may actually get a better offer. Just remember that some older rougher looking jewelry is better sold for melt value, while more prestigious heirloom jewelry is better sold to be resold on the market.