peter789

After my Grandmother past away, I inherited many pieces of her gold jewelry and countless other items such as a couple flapper dresses from the ‘20s with matching hats. No one knew what era the long gold chains were from; I imagine, they were worn with the flapper’s. Yes, I should keep them for posterity, but, she never wore them in my lifetime and I certainly will never wear them. I decided to research into the new phenomenon of selling gold jewelry after I saw a commercial on TV.

I found that each company is different and realized that there are a few things you really need to be aware of when selling gold jewelry.

Before you do anything, find out how many Karats you have. No, don’t go running to the fridge. Just look at the piece jewelry, you should find something like 10K, 14K or 18K. But if you find the letters “GF” after your gold marking, it is not worth anything because it is gold filled.

Before you sell your gold, always remember these 5 tips:
1. Cash value vs. appraised value – Never expect to receive the appraised amount. Selling gold jewelry for cash is much less than the appraised value. This is because you will be selling gold jewelry for the metal price.
2. Gold value – The gold value fluctuates for a multitude of reasons, just make sure you always check the current price before selling.
3. Comparison shop - When you are new to selling gold jewelry, be careful and obtain two or more quotes.
4. Minimum selling price - If you decide selling gold jewelry elsewhere, know what estate dealers will pay first.
5. Knowledge is power - If your gold is an antique, designer, or includes precious stones, will often hold a higher value than actual gold value.