Craig Gold asked:

Selling scrap gold to a metal refiner, you first may want to get prices from jewelry stores..

You have the choice to receive the greatest amount of cash for your scrap gold. For many people, a company like Cash4Gold is the optimal option because they purchase jewelry and gold of any kind. Damaged necklaces, single earrings, dental gold, and anything with gold and silver in it.

But if you have a piece of jewelry which is valued much more than just the metal that makes it up? You assume you can get more money from a jewelry store for selling your items.

But wait, here’s what you have to know so there aren’t any surprises!

You Can’t Trust Engraving

Skilled jewelers and special equipment can tell exactly what kind of gold makes up jewelry. Your piece of jewelry might not be as valuable as you think.

The engraving on jewelry marks its karat, or gold purity level. Some countries have no rules and laws requiring that engraving be authentic, and some don’t require a 3rd party to verify jewelry’s gold content. It’s likely your piece of jewelry is wrongly imprinted to misrepresent the content for the seller to earn more cash.

Retail Value Does Not Reflect the Scrap Metal Price

It’s easy to assume that you sell to a gold refiner, you will get paid slightly less than retail for your old jewelry. Gold buyers only buy the intrinsic value of the metal within the jewelry, not its quality or appeal.

Jewelry stores work on very large margins, and can mark up prices by three to twenty times their metal’s worth. Even jewelry purchased on sale will still be a lot higher than the metal’s value. The precedence is akin to buying a brand new car. As soon as you take it out of the store, the value of the automobile falls dramatically.

Jewelers Use Appraising as a Marketing Gimmick

When you take your scrap gold and jewelry to a jewelry store for appraising, there is a likeliness that the appraised price is for trade-in only. This means that you will not get cash for your gold. Jewelry stores expect you to buy another piece that’s marked up three to twenty times its metal value.

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Craig Gold asked:

If you aren’t in immediate need of cash but have been contemplating getting rid of some unwanted jewelry pieces, right now is the best times to sell gold jewelry. The price of gold is higher than it has been in the last thirty years so think about whether right now is the right time to sell gold jewelry. The obvious reason you would sell gold jewelry is to earn extra money, but there are many other reasons to sell.

There are convenient reasons to sell gold jewelry but you can also have sentimental reasons. No one reason to sell gold jewelry is any better than another, but if any more than one of the following reaons sound like your situation, it is a good sign that right now is the time to sell.

1. Broken or damanged Jewelry – If you have earrings without mates, a necklace with a broken clasp or a chain that is unwearable, you think you will get them fixed, “one day.”. If you have not done it by now, will it ever happen?

You may be shocked with the huge cost of jewelry repair in this day and age. The careful dexterity required as well as the malleability of gold jewelry both means a large bill for damage repair. When you sell gold jewelry that is damaged and broken, you can use the cash you made to buy sparkling new pieces that are in pristine condition.

2. Your jewelry has gone out of style – Most folks have very distinct taste in jewelry so coming across a buyer for older, dated jewelry can be almost impossible. It can be a time-consuming, costly task to advertise for a prospect for older jewelry and there is no guarantee you will every find one.

The companies who buy scrap gold, however, are always seeking to buy , and they don’t bother about the condition or style of the jewelry. You won’t be penalized on the price just because the jewelry is out of style and old!

3. It takes time to sell gold jewelry individually. Everyone thinks that their grandfather’s antique watch or grandmother’s collection of gold pins can be sold to a antique collector or anyone else willing to pay for them. The bitter truth is that it’s very difficult to find buyers for antique jewelry pieces, and even if you have found someone willing to buy they likely will not be attracted to everything you have. By dividing up your jewelry into high-end and scrap and selling only a couple of pieces to collectors, you are lowering the amount of work you have to do. The undesirable jewelry can be sold to scrap gold buyers.

When you sell gold jewelry to a scrap gold who wants just the gold, you can get it sold all at one time for a lot of cash. All said and done, you will have cash in hand and no more antique jewelry to have to worry about.

4. The jewelry has no emotional value. Do you still have that engagement ring from an old fiance who left you at the alter or gold jewelry from an ex-spouse? To sell gold jewelry that’s associated with unhappy memories from your past can be a lot of fun. You are getting something of value from the jewelry you would rather forget. Don’t hold on to a lingering memory. Get started with a new life with some cash in your pocket.

There are as many reasons to sell gold jewelry for scrap as there are styles of jewelry. If one of the reasons above seems like a reflection of your situation, now is the time to sell gold jewelry so you can move on with your life.

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