Do you have some gold jewelry lying around that you would want to turn into cash and use to pay some pending expenses? Are you wondering how you would go about this endeavor?
It isn’t that hard to sell gold jewelry in today’s market, where gold’s price per ounce is around $2200. Keep reading to learn the best way to sell gold jewelry in today’s competitive market.
Calculate the Melt Value of Gold First
If you are new to selling gold for cash, you are probably thinking about going to your local jewelry store and trying your luck there. The problem with that you have no idea what a ‘fair price’ for your gold would be.
That’s what you need to figure out first. You can do that by weighing the gold jewelry you have. You could use your kitchen scale, but it would be better to go to the local post office or a local jeweler to get accurate readings.
Once you know the weight of your gold jewelry, you will need to figure out the purity of the gold in your jewelry. As you know, this is measured using karats. Very few jewelry pieces are 24-karat gold, which is the purest.
But you will see markings on your jewelry saying 12k, which is 50% gold, or 18k, which is 75% pure.
You can do the calculations then to figure out the amount of gold in your jewelry and see what the ‘melt value’ would be.
Send Your Gold Jewelry to Online Buyers
One of the best places to sell gold is actually to reputable online and offline gold buyers, such as Canada Gold. These places have a trustworthy reputation and will buy your gold for as fair a price as possible.
The great thing about selling gold online is that these buyers will list their gold prices on their website, so there is never any doubt in your mind of whether you are getting ripped off or not.
They also have retail stores where you can go in and speak to the buyer directly, asking them questions about what your gold will be used for and more. In fact, 5% of the gold that is purchased by Canada Gold is resold.
You can also send your gold by certified mail to reputable buyers and get a quote back from them. They will inspect your item, and send you a cheque for the price of the gold, once agreed upon.
It’s an easy way to get rid of stale, worn-out, and outdated gold jewelry from your jewelry boxes.
Now You Know the Best Way to Sell Gold Jewelry
Now that you are aware of the best way to sell gold jewelry, you have nothing to fear in the gold market. You can easily and effortlessly sell your gold jewelry to get that cash that you deserve.
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