Those planning to sell old jewelry in hopes of taking advantage of the high gold prices just may be better off selling as ornaments rather than to the melting pot.
Truth be told, if you decide to sell your jewelry to a gold buyer for its value, you can potentially end up losing much of the retail value.
The price of scrap is based on the value of the metal alone and does not tend to reflect any aesthetic value or craftsmanship, let along the emotional attachment you may have to a particular piece.
While some pieces may have little to no resale worth due to missing stones or other factors, complete pieces are better off being sold as is.
Considerations for the fragment pile include used wedding bands, class rings, or solitary earrings.
If you're curious to find out just how much your ornaments is really worth, you can choose to have it appraised.
Hope online and find yourself a credentialed appraiser and follow the instructions provided.
If you're unsure of going through the appraisal process, you can try to estimate the value on your own: 1.
The price of is based on a troy ounce of twenty-four karat gold.
Troy ounces contain 20 pennyweights, or 31.
1 grams.
Check online to view the current prices.
2.
That which is less that 24K is discounted accordingly: 18K = 75%, 14K is 58.
3%, and 10K is 41.
7%.
Any piece consisting of 10K or higher will receive a karat stamp.
If you are ready to get rid of your jewelry, the first thing to do is shop around for the best price.
If you are selling jewelry, then a jewelry store is probably your best option.
In the case that you are selling scrap, you will need to find a scrap buyer.
With the state of the economy, there has been a resurgence in gold buyers.
However, these businesses typically act as a middle man between the piece holder and the refiner.
If you're looking to get the most for your scrap, your best bet is to get in touch with a refiner directly.
A refiner is the individual or business who collects scrap gold and melts it down in order to be reformed.
They will typically pay a percentage more than dealers as the sale is direct.
Take your time and do the research necessary to finding a worthwhile price.
It's your property; make sure to get the most for it.