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Cash For Unwanted Gold Jewelry

Advertisements about obtaining cash for unwanted gold jewelry can be seen on television, heard on radio and read about in newspapers, as well as the Internet. With gold selling in excess of $1000 per ounce, it is no wonder that small mom-and-pop shops that specialize in buying and selling gold, are springing up all over the nation. However, the safety in selling an old gold ring or necklace is always in question.

Most of the shops that buy unwanted gold jewelry, melt it down to its purest form. The gold is often molded and then resold for a profit. Prices for old gold jewelry vary greatly from store to store. There are television ads that entice sellers to literally place their jewelry into an envelope and send it to a faraway store. The advertisement guarantees the best price and that the check will be forwarded once the gold is received and evaluated. This seems like a frightening proposition that can be very unsafe for a new seller.

There are also brokers who earn a fee for finding the best price for any gold jewelry item. However, braver souls who do the proper research can save themselves from the high fees often charged by gold brokers. The most important aspect of selling personal gold jewelry is determining the price that a piece may be sold for. there is a mathematical formula that can determine the basic price that an item may bring in. 

However, this formula may not provide an accurate price due to the fact that wholesale operators buying and selling cash for gold  will purchase it at a deep discount, and then mark it up for a profit.

Since gold is melted down it may be wise to try sell an old trinket to the smelters themselves. The smelters are the refiners of the gold through the process of melting it down. This process is formally known as smelting. However, gold refiners also offer fees that may be lower than a new seller may anticipate. This is because there are fees involved not only in melting the gold down, but in polishing and processing it for sale.

Cash for gold will not likely result in great wealth to the average seller of old, unwanted jewelry, but it can put a few dollars in their pockets. Wealth derived from the sale of gold can only happen if great amounts of weight are involved. Unless a treasure chest is dug up or recovered from the bottom of the sea, the chances are that the sale of most gold jewelry may be a bit disappointing for the rookie. Long gone are the days of the 49ers and the gold rushes of early America, but there is always the possibility of finding a gold nugget in the backyard.

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