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how to price and sell scrap gold jewelry

By Edited Jun 15, 2014 2 2

Pricing and selling your gold isn't as difficult as you are lead to believe by the pawn shops and jewelry shops. Some jewelry shops will deliberately tell you a piece of gold is fake to take business away from nearby stores. If you sell your gold online, you will find a better bargain.

Things You Will Need

pen and paper

Step 1

Price the gold. You can check the prices of gold online, but you have to know the exact weight. You can go to any search engine and type in the current gold prices and it will give you a per ounce price. You can then buy scales at a large retail store or online to weigh the gold. This step is necessary because of the dishonest jewelers that will deliberately mislead you on the actual value of your gold.

Step 2

Choose an online website with incentives. Certain websites that buy gold online will offer you big bonuses if you are a first time customer. You can go to a local pawn shop or jewelry shop to sell gold, but you would not get any bonuses or incentives for the transaction, even if you're a first time customer. If you deal with a website, check its legitimacy online at the Better Business Beureau website.

Step 3

Sell to the right store. If you need cash immediately for your gold, beware of pawn shops and certain jewelry stores. A jewelry store will offer you an amount for your gold and if you decline, they realize they can't get that much profit. So, they end up telling you it's not real.

Step 4

Wait for the right price. Gold is like any other commodity, eventually it will go back up. So, if your gold is undervalued and you are not in immediate need of cash, it might be wise to let the gold go back up to its peak value. You can look at past prices of gold to determine the likely peak of gold. You can also read forums about the future of gold prices to determine how soon it will happen.

Step 5

Check online businesses on the Better Business Beureau website. It would be nice if everyone was honest, but they're not. So, you have to protect yourself by verifying the legitimacy of a business through the Better Business Beureau website. Just because a company has a few bad comments, doesn't make it a bad business, it just means a few people were displeased. So, read each comment with an open mind.

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Tips & Warnings

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Comments

Jan 11, 2011 8:28pm
Yvonne74
This is a great article. More people need to be informed on the RIGHT way to sell scrap gold jewelry. I researched thoroughly before selling mine and finally chose a buyer called the Silver and Gold Exchange. I liked them because they published their prices on a live chart on their website at http://SilverAndGoldExchange.com They also are Better Business Bureau Accredited with zero complaints. They provided trackable, Priority Mail shipping with $5000 insurance while the other companies I checked provided only non-trackable business reply mail and $100 insurance. They also contacted me with their offer FIRST, before sending a check and if I wasn't happy with their offer, they would have sent me stuff back free of charge.
Jan 18, 2011 3:39am
Maryly
Hi!The New Year is coming,and I wish you have a good jewelry for yourself. Your view is very different.<a href="http://good-jewelry.com/"&gtjewelry stores</a&gt are very important in our life,<a href="http://www.good-jewelry.com/category-18-b0.html"&gtwholesale jewelry</a&gt are the same ,the women like to buy it in Jewelry stores .We are know this year is almost ended ,the new year is coming. We expect the New Year comes !
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