Is it worth it to sell broken Gold Jewelry?
Are you in need of quick cash? Whether you have done it or not, most people have heard of the option to sell their old broken jewelry, especially if they have gold items. This leaves many people wondering whether it is worth it to sell their broken gold jewelry or not.
What Gold Is Sellable?
There are jewelers looking for gold and silver. The purer the jewelry is, the better price you will get for it. There are websites that can tell you the value of the gold or silver at that time. You will see that the prices go up and come down, pretty much as all other investments do. This means that any broken jewelry is sellable. However, the more important aspect of it is when you should sell and how you should go about it.
Tips for Selling and Getting the Most Cash
One of the first things you should understand is how the gold or silver is weighed because that will ultimately determine how much money you will get for it. When you take your old jewelry in, it will be put onto a scale and the cash you get will be based on how many ounces or grams it is. Most people will consider a gram to be 28 gams in an ounce. This is not true. The jeweler’s scales use mostly Troy ounces to determine weight. This is 31.1 grams per ounce.
When you start gathering up your gold, you will need to know how many karats there are in each piece. Pure gold will get a higher rate than others. If you want the most money, separate it out so that each karat type is together. If you simply take it in and let the jeweler weigh it, they will weigh it all together and then give you the lowest price possible.
Another way to make more money is to know the type of jewelry that you have. If you have something that was made by a well-known designer, it may be worth more before it is melted down. If you are unsure about any of the pieces you have, never be afraid to consider getting it appraised.
After you have decided what you have, what you want to sell, and divided it all up, do a little research. Look for people in your area that will buy gold. Visit these places and try to discover who will give you the best price on what you have.
Is It Worth it?
No one has ever managed to get rich quick off of their broken jewelry, but if you are in a hurry for some cash, you could choose this option and get enough to help you out of a bind. You simply have to do a little leg work to ensure you get a good price. Often, this does not include the mail order options for selling old jewelry.
However, if you have something that has been passed down and it is something that you feel is very valuable sentimentally, you should probably not sell it. Doing so may leave you feeling very disappointed.