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Selling Gold Jewelry For Cash

Category Making Money
Recently it has become very popular for companies to encourage consumers to sell their unwanted gold jewelry, with promises of great profits. This is a guide about selling gold jewelry for cash.
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December 27, 2011

This is a good way to get extra money fast and when you need it. Look through your jewelry box and get out all the broken necklaces, old earrings (the ones you have lost a match too) or earrings you no longer like or wear. You can also sell bracelets, old charms, or even rings. If you ask, they will give you the money for the gold and you can keep the diamonds. I plan on having the diamonds reset into some earrings some day.

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Instead of just letting it sit in your jewelry box, take it to a reputable jewelry store, and get some much needed cash for it. Gold is at a all time high, so if you need extra money for something, now is the time to get cash for gold! I recently took in some old jewelry and got enough money from it to get a new mattress that I desperately needed. I even had enough money to get several Christmas presents. Now is the time to cash it in and get a great price for your old gold. Happy Holidays.

By Dorothy from New Creek, WV

Comment Was this helpful? 5
December 27, 20110 found this helpful

Hi, this is why I said take it to a reputable jewelery store. I got quotes from 2 places, then I took the best price. The bracelet I sold brought me close to $500.00. I was very satisfied with the price. The jeweler told me the weigh and then gave me the price! I was very satisfied. Be careful where you take it. Thanks Dorothy

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By 6 found this helpful
May 22, 2009

At the age of 49, I know I am getting on in years and want to spend more time with my grandson. When cleaning out my jewelry box, I noticed just what items I have held on to that will never be used again, or are broken or have missing sets too. I realized that those things can be put to good use besides just gathering dust, when exchanged for cash and use that money for other needed things.

So I took them into my local jewelry store where they welcome buying your scrap gold and got paid back $89.00. I plan on using that money to take my grandson to see the aquarium. At my age, the memories that we can make from that trip will be more valuable for both of us than those items laying there even longer than the 32 years they have been there just collecting dust thus far.

By theseamstress from Tenn

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May 23, 20090 found this helpful

I have seen ads and heard others talking about jewelry parties where you sell your gold for cash. The only reason I'm NOT going to do that is because I'm afraid that when the US dollar is worthless, I won't have any "money" or valuables. You might want to hang on to SOME of your good jewelry

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May 23, 20090 found this helpful

Do not mail your jewelry to those companies advertising on TV or in Magazines. One TV show did a sting. Your best bet is to go to a few jewelry stores and see who gives you the best deal. Don't take the first offer. The ones on TV gave the least.

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By 0 found this helpful
September 8, 2009

I have several pieces of gold jewelry that are broken or unusable. How do you know if it is really gold? How do you know you are getting the right price when you take it to a jeweler? If I weight it on my kitchen scale and it is 3 ounces, is that what the jeweler will weight it as? Thanks in advance.

By Halfwhit from Ashdown, AR

Answer Was this helpful? Yes
Anonymous
September 11, 20090 found this helpful

Just take it to two or more jewelers and see what they would be willing to pay you and if they're willing to buy ;-) Do not use the places like Cash 4 Gold because they only pay pennies on the dollar! You're better off to go to local reputable jewelers!

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September 11, 20090 found this helpful

My brother buys scrap gold all the time. He is very honest and reputable. If you would like more information, you can contact me directly as I don't think we are allowed to out and out advertise on this site. He weighs the gold using a special scale and I believes weighs it by the penny ounce. Not sure what that means. As suggested above, take it to a couple of jewelers first to get estimates. It also depends on the day of the week because gold is a commodity and the prices per ounce changes daily.

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September 11, 20090 found this helpful

My husband took all of the single earrings, old, broken, and one very ugly piece of jewelry I had to a jeweler who makes his own pieces (not a chain store.) For not very much money he made me up a gorgeous pendant and to my surprise those tiny little stones in the ugly piece were real diamonds!

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September 24, 20091 found this helpful

I own a dental lab and I am very knowledgeable and current on prices of gold. First- DO NOT send your gold to something like "cash for gold" or any other TV ad, your best bet would be to sell it at auction form on ebay. You can also do what I do when I have scrap gold in my lab- send it to a dental refining company. Rather than getting paid per piece, you will get paid per pennyweight or troy ounce minus whatever their assaying price is. Usually you get anywhere from 85%- 95% of the value of your gold. A couple places to try- Jensen Industries in CT, or The Argen Corp. in CA.

Another option is having it remelted into something nice like a ring or a pendant (which by the way I can do since it is the same process of making gold crowns). I use a website to buy the mold to make the piece, it is www.waxpatterns.com It has thousands and thousands of patterns to choose from. My fee to remelt your gold into something new is only $45 per piece. Way less than a jeweler! And I will send you back (or buy from you) whatever gold is left over. The best way to determine how much gold you have is using a plain and simple kitchen scale- or to be more accurate bring it to a jeweler and have them weigh it.

The website that sells the patterns has a number beside each pattern. That number indicates how much gold you will need for that specific piece. You must make sure there is a little left over for the button (this is the end of the mold where the gold is usually burnt). If you would like any other info, feel free to contact me.

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January 11, 20160 found this helpful

I know it's better to sell it to a smelter but I couldn't find one in Chicago. Do you know of any in Chicago?

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By 0 found this helpful
February 4, 2015

Where is the best place to sell gold in Las Vegas?

By Matthew from Las Vegas, NV

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September 8, 20090 found this helpful

What is the best way to sell scrap gold to get the most bang for my buck? I realize that any place that will buy gold is only going to pay a fraction of the current high price of gold per ounce. However, I have some items that have no other use, like a gold bangle bracelet that has so many dents that it's unusable.

Should I try a jewelry store or pawn shop or a gold dealer in the Yellow Pages? Anyone out there have any experience selling their scrap gold? All replies are appreciated. Thank you.

truerblue from PA

Answers:

Selling Scrap Gold

I took "Goldsmithing" at a local community college here in Washington State. If you had something like that in your area, you could sell to the students. But I doubt you do. Talk to people who work at custom, high-end jewelers and ask them if they know artists. If it were me, I'd talk to jewelry artists at Farmers markets. Look for custom jewelry on Craig's list and find out who made it. That way you can sell directly to the artist. All artists are looking for a good deal on gold. You'll have to sell to someone who "Casts" gold.

Remember unless your Gold is 24 karat, it's only partly gold. Because of this, the jeweler that casts used gold has to add a certain amount of fresh gold to their casting. If they recast just used gold there may be problems because of the alloys. The karatage of the jewelry will tell you what percentage of gold it contains: 24 karat is 100 percent, 18 karat is 75 percent, and 14 karat is 58 percent 12 is 50%. The remainder is copper and zinc. That's why some people have allergies to gold, it's usually the additives.

But, now is a good time to sell because of the very high price of gold. Do not sell to those guys that advertise they buy "scrap gold" on TV, a very bad idea, they are total rip-offs. PLUS: If you do sell to a Jewelry Artist, as least you'll know your memories will be put to good use.

WHAT IS A KARAT:

www.e-goldprospecting.com

WHAT ARE COLORED GOLDS:

www.jewelrymall.com

Be sure to meet people you don't know with a man by your side and at Starbucks or a coffee shop for safety. Never let anyone near or in your home. Make sure whether or not you have a man living with you, you let them think you do because I've in the past I had one strange guy find me by my license plate. (03/20/2008)

By Cyinda

Selling Scrap Gold

My ex-husband was a jeweler and he and the company he worked for would send all their scrap gold to SWEST, that's who the jewelers use, thus you're bypassing the middleman. His company used wooden counters and sinks and scraped them down several times a year and sent the shavings to SWEST.

Swest: Jewelry supplies, tools and metal

11090 N. Stemmons Freeway

Dallas, TX 75229

1-800-527-5057 (7:30 a.m. to 7:00 p.m., CST, M-F)

(03/21/2008)

By Noella

Selling Scrap Gold

If you want the most bang for your buck then you should sell it to a refiner. There are couple of refiners you can find online that will send you a free kit and make the whole process pretty painless. Avoid pawn shops for selling scrap gold as they're just a middleman and your gold will end up in the same place anyway.

www.goldintomoney.com (03/27/2008)

By Cedric

Comment Was this helpful? Yes

May 22, 20090 found this helpful

Where is the best place to sell your jewelry? I have been out of work since December 11, 2008 per my doctor's orders. My request for short term disability from the company I work for was denied, and my benefits were suspended. I am in the process of appealing that decision. In the meantime, I am not allowed to show any other source of income. I am looking for the best place to sell some of my jewelry, and some other items I don't need.

I have amassed quite a collection of jewelry: precious and semi-precious stones set in rings, earrings, bracelets and pendants. It is my feeling that people don't come to yard sales to pay top prices for jewelry, and I want the best price I can possibly get. Our bills are beginning to pile up, and my medical expenses continue to grow. Would you suggest classified advertising, craigslist, flea markets, or some other source?

The terms of my short term disability appeal dictate that I cannot show any other source of income, so I will have to sell items for cash, which rules out eBay. I am not trying to be sneaky or to deceive my employer: I am merely trying to sell some personal items to meet expenses while I am ill and out of work. Any suggestions would be greatly appreciated. Thank you all in advance.

Cheryl from South Carolina

Answers:

Advice For Selling Jewelry

Ebay is good place or etsy.com (03/18/2008)

By theseamstress

Advice For Selling Jewelry

Just be careful your workplace doesn't find out. Here is what happened to me:

I was off on medical leave-first denied by my company, than later accepted and I received back pay. (I was on bed rest for preterm labor with twins). Meanwhile I sold some items from my home on ebay, clothes and coats I had no longer been wearing, a couple of rugs, some old textbooks and some tools my husband had no use for.

The company found out, and my paychecks STOPPED. It went all the way up the chain and into the courtroom. The judge brought up my ebay account, saw what I had were common household items, and I was not running a business and I won. She got onto the HR rep and the company attorney, and I got back pay again.

But, the company continued to treat me like dirt for the next 7 years. (03/18/2008)

Advice For Selling Jewelry

E-Bay is the place. On e-bay, be SURE to set a LIMIT on the price so no one "walks away with it" for nearly nothing! You'll need GOOD, high quality pictures. Use no flash, but instead Get several lamps and hold one almost directly over-head, right over the top of the piece while your snapping the photo. Most things look good on black, but some Jewelry needs to be photographed on Gray. You background could be anything from a tablecloth, sheet, pillow case, to a plain black dress or skirt as only a small bit of the fabric will show. Craigslist is another place to sell.

Make sure you have a man with you when you show the pieces and NEVER invite ANYONE to come to your home to look at your pieces! Always meet at a place like Starbucks or a coffee shop.

Sometimes you can sell to a jewelry store. My sister worked at a "Ma and Pa" owned jewelry store and they bought and sold "estate" jewelry. They were among their best pieces! You'll be lucky if you get half what it's worth. But remember, the price of Gold is sky high right now! NEVER sell to those "scrap gold" places you see on TV. They rip you off! Chain jewelry stores in malls don't usually buy "estate jewelry." You'll have to call the ones that are owned by locals.

My ex-mother-in-law had to sell a large family heirloom diamond ring. In the 1980's it was appraised at over $8000, (we had the paperwork) but Jewelry stores would only offer her $1800, so another family member bought it for $4000. They got a good deal, PLUS, it's still in the family! If you have a friend or family member that might be interested, be sure to ask around!

*Another place is your church, you could post it on their bulletin board or let the Pastor's wife know to spread the word around. Stay away from pawn shops and swap meets. Antique shops? Maybe, maybe not, just know the value of what you're selling and have your limit. Most GOOD pawn shops will give you one quarter what it's worth. That way they can sell it for half what it's worth and still double their money. You can also go garage sale-ing and buy, then sell your finds on E-bay, some people make quite a bit doing this. Maybe you could put your e-bay account in your husbands, sisters, moms, or friends name. This way you won't be in the same bind as the "Guest Post" person.

PS. To make extra money to live on, you also could rent a space at a swap meet and sell any junk you've collected. OR, teach classes (in you home or theirs) on something you're good at, like Woodworking, Quilting, Sewing, Pottery, Knitting etc. This way, it's under the table, so no worries. Have everyone pay in cash or cash the checks directly (hopefully at THEIR bank) do NOT deposit them, as the "record" of this could be brought back to haunt you! Hope I've helped and I sure hope everything works out for you! (03/18/2008)

By Cyinda

Advice For Selling Jewelry

As others have said, ebay is the way to go. Don't skimp on your photos. Take your time and figure out how to take amazing photos. I even use a certain room and wait until a certain time of the day when the lighting is perfect. It'll be worth the extra effort if your photos are nice. Also, be sure to post your auctions on the weekend so they end on the weekend. More people are on ebay on the weekends. (03/18/2008)

By Mallory Marie

Advice For Selling Jewelry

eBay now offers FREE GALLERY PHOTOS! (03/18/2008)

By MCW

Advice For Selling Jewelry

You might try taking them in person, so they can be examined to a jeweler who deals in estate sales, and they would at the very least give you a reasonable idea of what you can expect. You might look on the web for someone who sells vintage jewelry and ask them if they buy and one way or another get a pix to them (03/19/2008)

By pikka

Advice For Selling Jewelry

Just ask yourself who sells jewelry like yours:

Antiques stores. People who handle estate sales sometimes bring things from other estate sales to fill out a sale.Look under appraisers.Stores that sell vintage clothing. If you aren't sure of it's value, try to get an idea of the ranges available. Etsy.com sells stuff like that. Or look on ebay and see if there's a dealer you might sell to. You won't get full price but you'll get paid a lump sum. but it's better to sell to a local dealer. As for craigslist, I feel uneasy about someone coming to your house to look at your stuff if any of it is really valuable. (03/19/2008)

By pikka

Advice For Selling Jewelry

There is a website www.etsy.com. You could post them there. People sell handmade products as well as other items. I just purchased some things from a local lady and we met in town for payment and pick up. Hope that helps! (03/19/2008)

By gigurl

Comment Was this helpful? Yes

March 18, 20080 found this helpful

Learning to sell jewelry any tips on displaying and selling jewelry. Just beginning, marking, laying out on table, lighting, things like these.

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