Making Money By Selling Gold Jewelry

Making Money By Selling Gold Jewelry

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Selling gold jewelry to make some quick money has become quite common these days. People prefer to sell off those items that they no longer use, which are damaged or probably out of trend. The main reason why people sell their gold jewelry is to make money instantly. This has become a common practice especially because of the prevalence of unemployment.

People can easily make money when in need by selling their gold jewelry. The prices of gold have risen to almost 70% in last couple of years and the prices are speculated to rise even further. Gold is definitely an important and a valuable asset which can be easily converted to cash.

If you plan to sell your gold jewelry, then there are a few things that you must do. The first and the basic thing to do is to find the weight of the gold jewelry that you plan to sell. Then, you should find out the current market price of gold. Gold prices tend to fluctuate a lot so it is important you follow the daily gold rates to plan the sale appropriately.

Lastly, you should be aware of the gold content in your gold jewelry or the purity of your gold jewelry. The purity of gold is measured in carats. 24 carat depicts the purest form of gold. But since, pure gold is soft and cannot be made in to jewelry; gold jewelry is generally of 14 to 23 carats. After taking all these things into consideration, the sellers will probably end up getting 70 to 80% value of their gold jewelry.

There are some other factors that you should bear in mind when you plan to sell your gold jewelry. The first thing is to decide whom you want to sell your gold jewelry to. Selling gold jewelry to a reputed buyer is important if you want to get a good deal. The best idea is to select a reputed jeweler or a pawn broker. Jewelers tend to offer higher prices for beautifully designed jewelry, antique or heirloom jewelry.

Another common practice is that jewelers also allow you to trade your old jewelry with new ones. Some people prefer to exchange their old pieces of jewelry for newer ones to get trendy designs and something that they like.

You may also opt to sell your gold jewelry to a scrap gold dealer or a gold refiner as these people may offer a good price. Online auctions or sale through a consignment shop is also possible. Auctions are preferred for antique or heirloom jewelry which is usually beautifully crafted and can get a better price due to its aesthetic value.

The first two options are still considered the best. Selling gold jewelry definitely needs some research to get the best deal.

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