The average price of gold in September of 2009 rose to above $1000 dollars. During this recession, many Americans have gotten fairly resourceful and many have turned to selling gold jewelry to raise funds while the price of gold is still high.
The unemployment rates are approaching record highs and many are searching to find alternative sources of income. Many are selling their items for cash to overcome tough economic times and to make ends meet. Others have unwanted gold that is broken, outdated, and holds no sentimental value and would like to discard the items before gold prices drop.
Where To Sell Gold Jewelry
There are a variety of ways you can sell your items. However, there are many scams and individuals preying off of the economically stressed individual’s desperation. Be sure to do adequate research before you selling your things. Here is what you need to ask each of the following options, you can do this by phone, if they won’t give you prices over the phone forget them and only deal with people who will. They are likely questionable and more likely to dupe you if they won’t quote on the phone.
How to sell gold your jewelry; ask each company you contact what they pay for 10k, 14k & 18k per gram, obviously the higher price per gram the more you will get for your items. Contact at least 3 gold buyers before making an appointment with anyone.
If you’re in a fairly large town or city you’ll have some options to visit in person to obtain pricing
- Many think of pawn shops first and this is likely the worst place you can go to get top dollar for your items. Unfortunately pawn shops tend to pay some of the lowest rates for your unwanted items.
- Secondly we have jewelry stores, a few years back very few jewelry stores advertised they bought jewelry, today it seems most non chain stores have a sign in the window saying ‘ We Pay Cash For Gold ‘or something similar. Jewelry stores purchase prices vary but as a rule they tend to pay more than pawn shops, still you need to compare prices.
- Thirdly you have gold buyers, you’ll likely find several options in your local news paper, the local section of craigslist or kijiji, the people advertising here will vary, some will pay very well and some are rip off merchants, again just get prices first.
- Fourthly, there are many online buyers, you can check their websites for comparative pricing, if they don’t list their scrap gold prices online I would bypass them as well. Many buyers are available to buy online, make a house call to your home to retrieve the items, and even host gold parties.
How To Sell Gold Jewelry Online:
Before selling online know the weight, the average worth of your items, and what you paid for it in order to ensure that you‘re receiving a fair price. When researching online buyers, it is important to know their BBB ratings, testimonials and other pertinent information about the company that would establish them as reputable. Shipping items is always a risk and typically requires that the item be insured prior to shipment.
Also keep in mind that two items of equal weight can have differing values depending upon the karat weight. Therefore, a 10 karat item weighing 10 grams is worth considerably less than a 22 karat piece of equal weight.
Currently, for a 22kt gold item, you can expect to get approximately $25.50 per gram of gold in a item. For instance, for an item weighing around 10 grams, the seller can get $255.00, if the item was 10k you’d be looking at around $105.50. That’s not a bad profit, especially if the item has no sentimental attachment or is outdated or broken. Selling your unwanted jewelry can quick way to generate a profit in stressful economic times. Although, online selling can be prone to scams, there are some very reputable companies that can provide a good deal to the customer because of their low overhead.
Our company does offer a shipping alternative for those not in our area and I have noticed one thing when choosing the online method, as a rule the more a company advertises (especially on t.v.) the less they tend to pay and the worse their reputation is, please do your research before selling your items, speak to a representative of the company, make sure the list their prices on their website in grams and know what you’re sending ahead of time to ensure you get a good price when you sell gold jewelry for cash.
Gold Parties
Gold Parties are another way groups and individuals are selling gold jewelry, in a nutshell you invite your friends, family and/or co workers over for an evening or afternoon, they bring their unwanted gold, the buyer arrives and purchases the items, you as the host receive a commission on all sales, typcially 10%. Our typical gold party generates anywhere from $5,000.00 to $10,000 in sales, this means a $500 to $1,000 commission for you the host, not a bad profit for a few hours work.