What Impacts The Amount That You Get When Selling Gold?
If you are thinking about selling your old gold jewelry, you might be wondering how much you will get for it. There are a few things that can impact how much you will be paid for old gold. Ask yourself the questions below, and you can get a better idea of whether you're being paid a higher or lower amount for the gold that you're selling.
What Condition is Your Jewelry In?
One thing that you might like about selling gold is that you can still sell gold jewelry and other gold items if they aren't in good condition. For example, you can sell tarnished gold or broken jewelry, as long as it is made from real gold. However, when you sell your gold jewelry in this way, you are simply selling it for the weight. If you have gold jewelry that is in good condition or that has valuable stones, then you may be able to get more for it by selling it to a jeweler or pawn shop that will resell it as-is rather than sending it off to be melted down.
How Much Jewelry Do You Have?
The amount of jewelry that you have to sell can obviously have a big impact on how much you will be able to get from a gold buyer. Of course, you might be surprised by how much you can get for even one gold necklace or other gold items. Naturally, though, if you have more gold to get rid of, you will probably get even more money. Therefore, you may want to take the time to really dig through your jewelry box to look for any gold jewelry that you don't wear often and don't want to keep.
What is the Going Rate for Gold?
The value of gold fluctuates on a regular basis, as is the case with pretty much all metals. Doing some quick research online can help you determine if gold is going for a higher rate right now or not. If it isn't, you may want to wait until the value of gold goes up again before you sell your gold, particularly if you aren't in a big hurry or if you have a large amount of gold to sell.
Where are You Taking Your Gold?
As is the case with many businesses, you can expect to be paid a different amount based on who you sell your gold to. Some gold buyers pride themselves in paying out higher payouts to their customers, while others pay less. You may want to check with a few different gold buyers before selling your gold to make sure that you are being paid the highest rate possible.
For more tips on how to sell gold, talk to a local expert.