Tips For Selling Old Gold Jewelry


Tips For Selling Old Gold Jewelry

There are some people who are lucky enough to inherit old gold jewelry. Some of them pass it down to the next generation, but their are some who simply want to sell them. It can be quite challenging to sell old gold especially if you have no knowledge about it. If you are thinking of selling some but have no idea how, then here are some tips for you. 

Reflect On Your Reasons For Selling

It is very easy to sell something that does not have any value to you. This is one of the reasons why people sell their old gold jewelry. However, there are some who actually value these things because of the meaning behind them. Since some of them are passed down, it can be difficult for others to part with them.

pair of gold-colored dangle earrings
Tips For Selling Old Gold Jewelry

It can be very difficult to let things go especially in exchange for money. There is a big chance that you might not be able to get an item back if you act on impulse. Regret is such a painful feeling so be sure to sell items that you can part with. However, if you do not have a choice, you can always sell it to someone close to you and have an agreement.

Get An Appraisal

Once you have made up your mind about selling, it is time to get your old gold appraised. It is very important to get an appraisal before selling, since you may not know how much it’s worth. Some jewelry items can be extremely valuable if they are antique. Most people cannot really tell, so it is always ideal to get it checked out. There is also a chance that it does not even contain any real gold. 

If you want to check if your old is real, then see if it will turn your skin green or black when you wear it. Another great way to tell is, if it floats. Grab a glass of water and see if the item will sink, this simply means it has real gold in it. Most people believe that the best way is actually to get an incredibly strong magnet. Real gold is not magnetic. However, keep in mind that there are jewelry clasps that are not made of gold so that may be a part that will be attached to the magnet.

pair of gold-colored wedding band
Tips For Selling Old Gold Jewelry

Know What You Have

What most people do not know is, if that gold jewelry has different carat numbers. Most of them have a number marking on them. A 24 kg gold means that it is made with real gold. As the number goes down to like 18 kg and 14 kg, then it means there is only a percentage of the item that has gold in it. 

It is also ideal to do a bit of research when it comes to the current price of gold in the market. There is normally a set price per ounce and grams. Pawnshops are usually the most common buyers of gold, you just need to be careful since they might get it at a low price even if it may cost more.

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