Selling your jewelry in person to a local shop may still be the best way to get the most money out of it.
Here, too, you have lots of options, including coin shops, pawnshops, consignment shops and jewelers.
The American Gem Society provides a list of local jewelers who buy jewelry.
How can I get the most for my gold jewelry?
Tips for Selling Gold Jewelry
- Don’t act on impulse. Carefully evaluate every piece of jewelry that you are looking to sell.
- Get an appraisal. Have antique or intricate jewelry appraised before selling it to a buyer that pays by weight.
- Know what you have.
- Find a reputable buyer.
- Shop around.
- Protect yourself.
- Know the price of gold.
- Get realistic.
How much do Jewelers pay for gold?
Pure gold is currently paying about $1250 per ounce. By going through the math, this means that 10 karat gold will “scrap” at about $16.35 per gram. And 14 karat gold will “scrap” at $23.50 per gram.
Is it a good time to sell gold jewelry?
The best time to sell your gold is when you either need cash or don’t need or want the gold itself. It sounds simple, but it’s true. Think about it: Gold that you have sitting at home (or in a safe deposit box) has a value, but it’s subject to the whims of the market.
How much is my gold chain worth?
Then, divide your answer by 24, since 24K is pure gold, and multiply that answer by your chain’s karat to find the price by the gram. For example, let’s say you have a 14K gold chain that weighs 31.1 grams and the current market price of gold per ounce is $1,200. $1,200 / 31.1 / 24 X 14 = $22.50 per gram.