In times of uncertainty, it can be reassuring to know that you have some extra cash on hand if you need it. Before rushing to the bank and depleting your savings account, consider what you might already have at home! Gold jewelry is an investment that can work for you, even after you’re done wearing it. When the economy is hit with a downturn, gold usually rises in value. Times like this are excellent to trade in your gold for money - reputable gold buyers will pay top dollar, and you can make your investment in gold jewelry work for you!
Here are some tips when considering selling your gold jewelry.
Find a Reputable Buyer
Not all buyers are created equal! Be aware of any complaints that may have been posted against a company that buys gold, and do your research before deciding on a gold buyer. Look for a buyer that has a license to buy gold, and has remained in their location for a while. Membership in a jewelry trade association is also a good sign. If you don’t feel comfortable and confident in the business when you walk through their doors, turn around!
If you are shipping your jewelry to a gold buyer, don’t be afraid to document your items. Take photos of your jewelry before shipping, and make a note of the number of items that you’re sending. Don’t be afraid to get extra shipping insurance if you are mailing higher value items. And make sure the gold buyer has a clear line of communication with you - they should contact you when your items arrive and verify that they have the correct number of pieces.
Know What You’ve Got
Gold jewelry is rarely made from pure gold. In the United States, 10K, 14K, and 18K are the most commonly used gold “purities.” This simply indicates the amount of pure gold that is mixed with other metals to strengthen it. Most jewelry is stamped with one of these markers to indicate the purity of the metal. Be aware that different gold purities will earn you different dollar amounts. If you can sort your items in advance, this will save you time.
Don’t Try to Sell Sentiment
If you have any heirloom jewelry, or anything that you’re particularly attached to, don’t sell it. The sentimental value can never be matched by a dollar amount. If you do have older estate jewelry, or jewelry from a popular designer, it may also be worth more to an estate jewelry buyer than someone who would melt it for gold. Consider this first if you’re not particularly attached to your vintage or heirloom jewelry, but think it might be worth more as a completed piece of jewelry.
Selling unworn or broken gold jewelry can be an excellent way to put some extra cash in your pocket! As long as you do your research and know what to expect, you can turn these unworn, forgotten pieces into spending money. Follow these tips to be smart about the process, and you can make an informed decision and sell your gold jewelry with confidence.