Apr 1, 2014

Posted by Shanell Calloway in Business | Comments Off on Getting the Best Value When Selling Jewelry to Missouri Gold Buyers

Getting the Best Value When Selling Jewelry to Missouri Gold Buyers

If you are considering selling your old gold jewelry for cash, there are a few factors to consider to make sure you get a good price. There are several Missouri Gold Buyers to choose from when searching for the best place to sell gold jewelry, such as the Sam Light Loan Company.

Before you take the gold to the buyer it is important to make sure the jewelry is pure gold. Jewelry that is pure gold will be stamped with either 10k, 14k, 18k or 24k. The purest gold is 24k; however, any purity is worth some money. It is recommended that you have the jewelry appraised before taking it a buyer. Jewelry can be worth either its scrap value or as a whole piece of jewelry. For example, if your gold jewelry pieces has gemstones it may be worth more selling it for the piece instead of selling it to Missouri Gold Buyers as scrap gold. When you are researching the price of gold, it is important to understand how the value is determined. For example, pure gold is based on what is known as a troy ounce, which is based on a 24 karat piece (the purest gold) and troy ounce is 31 grams. Gold pieces that are less than 24k have less gold purity, so they are valued at a lower price.

To determine an approximate value, separate the gold according to karats, weigh each group separately and multiply how many grams of each by the current price of gold. Current gold prices can often be found in the newspaper. Lower karats vary in the price per weight, so it is important to keep in mind that when selling the items you will not get the full current rate for gold. If you are selling the gold for scrap value, you will typically only be paid about 25 percent of the current value. The craftsmanship, antique value, sentimental value or the aesthetic appeal of the piece does not have an affect of the value of scrap gold. If you have pieces that include gemstones, it is often better to sell the piece as a whole through an online auction or a private sale.


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