Need Money Fast and Can't Get a Loan? Check Out These Tips for Selling Your Gold Jewelry
The current economic trends have made things hard on a lot of people. Making ends meet nowadays can be challenging, especially if you have kids to care for. If you have a need for fast cash and are unable to get a loan, you can sell your gold jewelry to get the money you need. However, learning more about how to sell your gold jewelry is important to ensure you know you are getting what you deserve for it. Follow these tips for selling your gold jewelry.
Check Out the Current Gold Prices
Even though you may be in a hurry to get the money you need, taking the time to make sure you take your gold to a jeweler you can trust is extremely important. Choosing a dealer that you know nothing about could mean you selling your gold for less than it is worth. For this reason, you should also take steps to learn the current price of gold (referred to as the spot price) before selling your gold jewelry. Whether you are selling jewelry or old coins, knowing the spot price you should get per troy ounce is a good idea to get the money you deserve.
Jewelry Pieces with Precious Gems
You will know you are dealing with a reputable jeweler when he or she tells you the worth of not only your gold but also of the gems in rings, earrings, or necklaces. For example, the plain serpentine gold necklace you might sell will not be worth as much as the gold necklace with a diamond-heart pendant. The same concept applies to all jewelry when it comes to selling it. You should get a price for your gold separate from the prices of any gems you have as well. You should also be able to sell both gold and gems at the same dealer. Also, some jewelers will offer to remove the gems for you at a charge and return them to you if you do not want to sell them.
The Money You Make Is Generally Lower Than the Current Spot Prices
In most cases, you will only get between 70% and 80% of the value your gold jewelry is worth on spot prices. After your jewelry is melted down, it will be weighted, and your cash remittance is figured on that amount. Bear in mind that the dealer or jeweler will need to also make a profit, so you may get less because of that amount being subtracted as well.
Your old jewelry is not doing you any good if you never wear it. If you need fast cash, get out your jewelry and start looking for a place to sell it, such as Rocky Mountain Gold & Silver Exchange.
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