Jul
22

How To Sell Your Gold Jewelry Safely For Money

If you need to raise a substantial amount of money quickly, one way to do it is to sell any gold jewelry you may have. Gold is always a valuable asset to have, but you need to be sensible and know the facts when selling your gold jewelry.

I’m sure you have seen a lot of adverts on TV that scream “WE BUY YOUR GOLD JEWELRY” – just because they come on tv does not make them the best source to sell your gold to. You must educate yourself about the basics of gold, so that you extract the best possible price for your gold jewelry.

Here is how you can make sure you get maximum returns for your gold jewelry:

Educate yourself about gold. Some basics:

1. 24k is the highest form of gold, but the highest form of gold jewelry tends to be 22K. As the Ks go down, so does the actual gold content. For example, 18K is 75% gold and 14K is 58% gold. The remainder of the percentage in lower forms of K are a mix of copper and other metals mixed in with the gold. The lowest form of gold is 10K (about 42% purity).

2. Clearly, the higher the K of the gold, the more valuable your gold jewelry is going to be.

3. You must be able to know the existing price of gold. The value is quoted per ounce and changes on a daily basis. You can find the gold price free online by using a site like Yahoo Fiance (simply search for daily gold price)

In terms of actually selling your gold, if you do opt for one of the “we buy your gold” companies, try and research a few of them before buying. Then go with the company that offers you the most. Many of the companies will actually provide you with free insured envelopes with a no obligation policy. Make sure this is the case before sending your gold to them. Also, phone the company and ask them questions – for example are they a legal company listed on companies house, and how long have they been in trading are important questions.

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