Sell Gold For Cash Without Being Scammed

The better pieces to trade in in this manner are the ones that have no resale worth as jewelry, such as old class rings (take out the gem), unwanted typical wedding rings from an ex-spouse, or discarded dental gold fillings.

There may be some number valuable jewellery at the nethermost region of your jewelry boxes and drawers. Possibly you forgot you own them! A single earring, damaged chain, or even tired sterling silver flatware.

Will your trading scrap gold work be worth your time? To calculate what your jewelry are worth, without compensating an appraiser $50 to $200 per hour, employ these rules of thumb about gold prices:

First Off, look for the karat impression of your jewellry. Then, check goldprice.org to see today’s price for a troy ounce (31.1 grams) of 24 karat pure gold. If your jewellry is less than 24 karat, discount it proportionately. 18 karat is priced at 75%, 14 karat is worth 58.3%, 10 karat is 41.7%.

Then take off 10-20% for the refining costs, plus any net profit the middleman purchaser wants from reselling it.

To give you a general idea: when gold prices were recently at their all time historical high of $1,160 an ounce, you could've gotten around $85 for a 14K wedding ring.

How can you find a scrap gold buyer who is not only responsible, but will pay you the best price for your gold or other precious metals?

Many persons won’t consider where to sell jewelry too much, and will just drive to the closest pawn shop to figure how much hard cash they can take in when they’re concerned with trading scrap gold.

Or they might respond to a TV or newsprint advertisement from a local jeweler or national gold buying company.

Since gold values are at a record high, and the amount of people who want to get cash speedily is increasing each day, several companies have come along to try to cash in on this tendency. Many of these companies take advantage of the normal person’s ignorance of the real value of their gold.

Regardless of who you sell your scrap gold to, it needs to go to a precious metal refinery. They have the equipment and licenses to purify the gold and reprocess it into gold bars acceptable for industrial use.

Therefore to make the most cash, it’s best to cut out the pawn shop or different middleman, and deal directly with a time-tested refinery. They are not in the jewellery business or a intermediary.

You can ask that they send you a postage paid, insured envelope that you can track on-line when you mail it. Make a point to fill in your detailed description of what you're sending off. Xerox your description, and snap a photograph of the pieces you’re sending. Don’t forget to remove precious stones and any non-gold parts that are of value to you.

The company employs non-damaging examinations to figure out the current market price of your jewellery.

The most reliable companies telephone you with their bid first off, and if you agree to their price send you a check or direct deposit your funds instantly. If you’re not happy with the bid, they will return mail (insured) your item at their expense.

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