The best thing about owning gold jewelry is wearing it. Another great thing about gold jewelry is that it retains value. The inherent value in gold never goes out of style. It can always be melted down and used to make new jewelry or gold bars. The inherent value of gold as a commodity will remain as long as you own it.
Gold is priced on the stock market. To value your gold you simply need to weigh it and apply the current market price. To weigh your gold it is best to weigh it in grams. If you weigh it in ounces you may run into trouble since there is more than one type of ounce. Weigh your gold in grams and you won’t get confused.
If you decide to sell your gold jewelry you can offer it to a local jeweler. Unfortunately, jewelers are used to extremely large profit margins. Most jewelers will take this mentality to buy your gold, and they will lowball you severely. Even though pawn shops have a bad reputation, some are really good. Pawnshops are go-to places for buyers of used jewelry. If you are selling used gold jewelry, a pawn shop will potentially have clients that they can resell your items to. If your pawn shop has a jeweler on staff, they are well-positioned to refurbish and resell your gold.
One secret that jewelers and pawn shops won’t tell you is where they sell their gold too. Almost all the used gold that jewelry stores and pawn shops buy is resold to a gold refinery. If you want to skip the middle-man and sell gold like a professional, find yourself a gold refinery that is open to the public. Gold refineries buy and sell gold in large volumes and work on small margins. Gold refineries are higher on the gold food chain, compared to jewelry stores and pawn shops.
In conclusion, one of the great things about owning gold jewelry is that it holds value. If you are considering selling you can weigh your gold to figure its value. Assuming you like the current gold value, jump on google and search for a “gold jewelry buyer near me.” Jewelers and pawnshops will buy your gold. If you are lucky you will find a local gold refinery that will buy your gold and that way you can really maximize your results.
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Thanks for informing me that I should have the gold I’m planning to sell in grams so I know how much it’s valued at the current market price. My mom and I found some of my late grandma’s jewelry box in the attic. It had a couple of gold pieces that we want to sell to help us with daily expenses. I’ll share what you said to my mom so we can have it weighed soon and find a reputable gold jewelry buyer. Thanks!