How to sell gold jewelry

If you have decided to sell some jewelry there are a few things you can do to ensure you get the best price. For this article lets assume you have a 14K gold bracelet that weighs 31 grams.

#1) Know what you have

Gold jewelry is usually stamped with a hallmark showing the karat or purity of the gold. You need to weigh your piece. If you have a good digital scale select grams troy as precious metals are weighed in Troy (31 grams per ounce vs. 28).

Using the Gold Value Calculator on your right enter number of grams and select the karat. The calculator provides you with the melt value of your piece.

Important: If your jewelry is not broken and in good condition and can be resold it is worth more than just the melt value.


#2) Find a buyer

Chances are you have a few places that buy gold near you. Call around and tell them what you have and ask what they are paying for 31 grams of 14K gold today. Prices fluctuate through out the day so the price you are quoted may change.

Jewelry stores that buy gold will probably give you the best price especially if you have a nice piece that will be resold. In my opinion the last place you want to sell is to a pawn shop but you never know. They may be the one with the best price near you.

Enter your zip code to find a local gold buyer

#3) The transaction

This part should be short and sweet.

Expect your price to be weighed and an acid test done on it to determine the purity (karat). Karat stamps are cheap and easy to buy and no one is going to assume the stamp is correct.

Once it is weighed and tested they will make you a formal offer. It should be close to what they told you on the phone. Again, if your piece is resell-able the offer should be close to the melt value. If you do not like the offer tell them why. Don't be afraid to walk away either.

Once you agree on the price they will probably ask for your ID and generate a receipt and hand you cash or a check.

Knowledge is power!