The jewelry world is confusing place. Finding the best place to sell jewelry for cash is not easy. Researching would take hours in order to understand the vast knowledge a specialist has learned. However, you might be interested in learning for yourself to have a foot in the door. Not all gold buyers are trustworthy. So knowing a bit about your items calls for a more smooth transaction.
Although there is no sure way to predict the future of buying and selling gold. One thing is for sure, the price of gold is hovering around the highest point since 2013. Which means it’s the perfect time to sell your jewelry for the most money. Selling your old jewelry is one of the easiest ways to get cash instantly. Things you own in life that can easily be liquidated for cash. Gold jewelry is one of them.
Are you looking to turn your unworn jewelry into cash, or sell your pre-owned jewelry you no longer want? It is important to sell your jewelry at the highest market value and in a safe, secure way.
Everything You Need To Know About Selling Your Jewelry For The Most Cash
When looking for locations, one of the best tools at your convenience is Google. Choosing a reputable business is the most important. Not all gold buyers will give you the price your jewelry is worth. If you don’t feel comfortable selling your items to a business, don’t feel obligated. You should say no if the offer is lower than the value. Before you think about selling, take the time to check a business’s reputation. The easiest way is to look at the reviews and see what experiences other people have had. In order to avoid needless stops, sales pitches, and low prices from unscrupulous gold buyers. Finding the best place to sell jewelry for cash is difficult but not impossible.
Should You Sell Or Keep Your Gold Jewelry?
The price of gold tends to rise when the economy is weak. Key components when figuring this out is when the stock market and asset classes are on a decline. Be on the lookout for the stock market’s health. The price of gold can change overnight. If you sell too quickly, you could be missing out on more money. Sometimes it’s better to hold onto your gold until gold rises again. Check the current spot market before heading to a business. Once more, the spot market can decline, and you could lose money. Find the best place to sell jewelry for cash.
More To Know And Is It A Good Time To Sell Your Gold Jewelry?
If you are selling your used jewelry, bring the receipts if you have them. It will help to know what karat the gold is or the carat of diamonds. You can shop around and see where the highest offer is at. Knowing the weight of the gold will allow you to get quotes over the phone. This is the best way to find the best place to sell jewelry for cash.
Selling at the right time is important, but selling to the right buyer is even more crucial. Offers may vary greatly from one dealer to another. That’s where a little informational knowledge comes in on your part. Typically, dealers will quote a price in grams or pennyweights. Which, in and of itself, can be very confusing. So, what does that mean in dollars? How do you translate those measurements into a meaningful amount one can understand? Let’s dive in a little deeper.
Gold prices are hovering around all time highs. This means it is a great time to sell.
Grams, Pennyweights, & Karats
There is three factors that are considered when professionals purchase your gold items.
- Karats: What is a karat anyway? A karat is the percentage of gold within the jewelry item.
For example, 24k is pure gold (it can’t go higher than that). 18k is 75% pure gold. 14k is 58.5% pure gold, 10k is 41.7% pure gold, and so on.
- Pennyweights: There are 20 pennyweights in a troy ounce (or 5% of a troy ounce each pennyweight).
Here is an example. Let’s say, for the sake of illustration, you’ve decided to sell a gold necklace. The price of gold, at that time, is $1,000 per ounce. Look at the clasp of the necklace, it’s determined to be 18k (75% pure). A local gold dealer determines that the weight of the piece is exactly 10.0 pennyweights. Here’s how to determine the melt value of that gold piece:
10K = (price of gold) X .01295 = per Gram
14K = (price of gold) X .01798 = per Gram
18K = (price of gold) X .02292 = per Gram
24K = (price of gold X .03056 = per Gram
10K = (price of gold) X .02015 = per Pennyweight
14K = (price of gold) X .02796 = per Pennyweight
18K = (price of gold) X .04307 = per Pennyweight
24K = (price of gold) X ..04750 = per Pennyweight
All that’s needed from here is to multiply this figure by the weight of the jewelry piece.
Variations Of Gold Jewelry
Jewelry can be made from various metals, mixed with different types, and crafted into different styles. Learning the basics of gold variations is helpful when calculating the profit.
- Rose Gold
- White Gold
Gold-plated jewelry and gold filled jewelry contain a tiny amount of gold. This type of jewelry is made with other metals like copper. Gold-filled jewelry contains at least 5% of gold by weight. This is legally required to be categorized as “gold-filled”
Rose gold and white gold are color variations of gold. Although 24k gold will always be gold in color. This is due to gold being mixed with other metals to appear differently. Since 24k gold is pure gold, there is no room to mix in another metal. The color of the gold bracelet does not affect the value whatsoever. Different colored gold is used only for the appearance. Some prefer the look of silver rather than gold but like the value of the precious metal, gold.
Forms Of Gold Jewelry
Gold jewelry comes in many forms and styles. Whether that is dental crowns, bracelets, rings, necklaces, watches, earrings, or pendants. These items that are made with gold commonly contain 10k, 14k, or 18k. While gold is precious, it is also malleable. When looking at jewelry you want durability and for it to stand the test of time. Due to this, gold is mixed with other metals to give it value and allow everyone to enjoy the look. 24k items are rare because pure gold will inevitably be damaged. Pure gold is not meant for everyday wear because it is a soft metal, unlike metals like steel.
The Manufacturer’s Stamp On Jewelry
Understanding the different stamps, whether it is a hallmark or a makers mark. This can give you some insight as to what they mean. These stamps indicate what the item is made out of, who made it, and where it was made.
Hallmarks indicate what the jewelry is made out of as in the purity. Maker marks indicate the maker, and the origin of the jewelry.
- In the United States, hallmarks are not regulated by the government. Meaning it is not required to put the percentage of precious metals on the item.
- Italy requires a makers mark is registered instead of a hallmark. It is required that a company stamp is present. The hallmark is monitored by the sole company. If the piece is marked improperly, the company would pay for the infraction.
- European countries like Sweden, Russia, Finland, and Hungary require there be a hallmark.
What To Expect When Selling Jewelry
Jewelry is commonly a combination of gold and other metals. Your jewelry might not be a full ounce, which is a measurement used for pure 24k gold, and isn’t made with pure gold. The spot price is based on a full ounce of pure, 24k, gold. Jewelry is often based higher than the amount of gold because the craftsmanship and the willingness to pay.
Gold buyers are not alike. Buyers are not obligated to be trustworthy or payout the value of your items. If you’re looking to get the most cash for your items, it is important to research each business. Trustworthy and well-informed buyers are what to look for. Checking the ratings and reviews is a dead giveaway when searching. This is a key tool to use, people are not afraid to tell you what they think. If you go there and find the same thing to be true then leave another review to help others.
Is Your Jewelry Taxable If You Sell?
This question is helpful for those of you that might not know the answer when purchasing jewelry. It is somewhat easy to figure out. If you are worried if you sell your jewelry, if it’s taxable. The tax paid on your jewelry was when you first purchased the item. All you have to do is deduct that loss from your income.
The Business Side
Buying and selling gold is a business. Like any other, each business has expenses because of this you won’t get exactly what spot is. In order to stay in business, a profit is needed to pay for cost of refining it and other necessities. The amount you are offered is spot minus the fee of the sole merchant. The amount differs from each gold buyer. This is due to the personal expense from one place to another. Don’t settle, choose the best place to sell jewelry for cash.
Figuring Out The Best Place To Sell Jewelry For Cash
If you’re thinking of ‘what is the best way to sell used jewelry’ or ‘the best place to sell jewelry for cash’ there are a few answers and options. Not all businesses have the capacity to purchase your items. Whether you have gemstones other than diamonds, or they don’t have ability to pay on the spot. You should always do your research before heading into a business when you’re selling your items. In order to sell your jewelry, you can mix and match business to meet all your needs. This does not mean that the business is not good but rather they specialize in particular categories. Some gold buyers are strictly interested in gold, some with antiques, or deal with preowned jewelry.
Knowing How To Sell Diamonds
Preowned diamonds can be valuable. However, there are many variables. If you think gold jewelry is difficult to evaluate, try making an accurate assessment of diamonds! First you have to determine if the stone is even real. There are many synthetics out there. Cubic Zirconium and lab-created diamonds are the main imposters. Even trained jewelers with all the equipment can sometimes be fooled! Look at the best place to sell jewelry for cash.
Only diamond testers can be relied upon for certainty. But even those can be fooled if a jeweler purchases a cheap one online. So don’t buy a diamond without knowing what you are dealing with. Here are the main factors that are ranked before a transaction.
Cut, Color, Clarity, and Carat weight are standard factors in pricing a diamond. Let’s take them one at a time:
Is the shape of the stone. Buyers look for such things as overall symmetry, number of facets, size of the facet cuts.
The less color detected, the better. Most stones will have various degrees of yellow that are graded by these letters.
D color is perfect .Zero color
E,F,G Colors look real good to the naked eye, virtually colorless
H, I, J colors are the mid range colors with some shades of yellow in them. These are the grades most Jewelry stores sell.
K,L,M colors are yellow to one degree to another.
N- colors or lower are brown. These are not high quality. Advertisers on T.V. try to market them as “chocolate” diamonds.
This is the measurement of the amount and size of internal flaws, if any. Flaws can be very small black dots to very large ones. Many of the flaws are clear and look like bubbles suspended in the stone. The size and the number of these flaws help determine the grade of the diamond. Here is the grading system for diamonds:
Flawless: (Speaks for itself)
VVS1 (Very very slight, virtually undetectable)
VVS2 (very very slight)
VS1 (Very Slight flaws)
VS2 (Very slight 2nd class)
SI1 (Slight imperfections. Most retail stores sell this grade or lower)
SI2 (predominantly retail grade)
SI3 (Imperfect. Starting to show with the naked eye)
I1 (Imperfect. Barely sellable to consumers)
I2 (imperfect. Junk stone)
I3 (Imperfect. Looks like a bomb went off in it)
The less perfect the diamond is, the less valuable they are. Retail jewelry stores charge any price they see fit, despite the imperfections.
The Advantages Of Going To The Gold and Silver Exchange
Are you looking for the best place to sell jewelry for cash? The Gold and Silver Exchange has been in business for 13 years. We have been accredited by The Better Business Bureau since 2011. They gave us a rating of an A+, which is the highest rating a business can receive. They have served over 60,000 customers and achieved a 4.7 star rating!
- You will be paid immediately after the transaction takes place.
- The items you bring will be looked at by experts. This ensures your items are properly priced.
- There is no minimum or maximum payout range. You are paid the worth of your items.
- You are able to bring in as many items as you want or have.
- No appointment is necessary
- All of the testing and evaluations are done right in front of the customer.
- There 2 are convenient locations, so you’re not very far from cashing in.
- Can’t get to a store? No problem. Call and they’ll send a FedEx label, and you conduct the transaction without leaving home.
- They will always try to pay the highest prices possible.
- Your will be treated as a friend, not a customer, guaranteed.
Sell Jewelry For Cash
The process of bringing in your gold jewelry is simple. You will never be pressured to sell your items, we know how hard it is to sell prized possessions. Unlike other gold buyers, who undervalue items and force sales. Creating a safe and comfortable environment is the number priority. Read our reviews, you’ll see for yourself
The experts will go over your jewelry right in front of you and describe everything they’re doing. Making sure you are never left in the dark and give you tips for your future purchases or visits. Choose the best place to sell your jewelry for cash.
Currently gold is hovering around all time high levels. If you want some extra cash and have unused jewelry around the house, Yes it’s a pretty good time to sell.
Deduct that loss from your income.
It can be done safely and securely through our FED EX system. It’s a very efficient way to sell you gold for cash.
We have state of the art equipment to test any material. All of these tests will be done in your presence. You will be shown exactly what occurs when we identify the item.
Our pricing is good enough that many of our competitors sell their items to us.
Diamonds, silver jewelry, silver serving sets, silver coins, silver bullion, 90% U.S. silver dollars, halves, quarters and dimes pre-1965, gold coins, gold bullion, gold dental work, platinum coins and platinum bullion. Any item that contains silver, gold, or diamonds. If you’re not sure, we will be glad to assess at no charge. We will give you top tier prices based on the items you bring.
Just bring in your items and we will analyze everything right in front of you as you watch. We’ll take extra care to explain everything, including the weights and karats. If you have any extra questions, feel free to ask. If you think of a question after your visit, stop back in or give us a call.
0 pressure, complete transparency, enjoyable experience. Don’t feel the need to be afraid to ask questions. Our team would love to give you more insight to any questions that arise.
“I had some old jewelry I never use and took it here on a whim. I was pleasantly surprised at the cash value once it was weighed and I appreciated the informative and very helpful person that assisted me (Sophia). She really knows this business and the whole process was smooth and efficient. This is an honest place, easy to work with..”Rachel Morales
“Great customer service. I feel I wouldn’t hesitate to go to them again.”Sue Snyder
“Sophia was fantastic. She went above and beyond in order to make sure the transaction took place. Great customer service. It’s out of the way, but I won’t hesitate to come back.”Kevin Kurzhals