You don't have to watch financial shows around the clock to keep a
reasonable eye on gold prices. Gold prices are high, but they do fluctuate.
Ideally, you want to sell your gold while prices are trending upward. Checking
gold prices daily online for a week or two will give you a picture of what gold is selling for. These prices will differ from what you will be offered when you
sell gold, but they do provide some general guidance on what to expect.
Know What You're Selling
If you have ever thought, "I'd really like to sell my gold,
but how do I know if what I have is worth selling," then you need to take
a magnifying glass to your pieces of gold jewelry. Look for markings such as
8kt, 14kt, or 24kt. The higher the number, the more valuable your jewelry is.
If your jewelry is marked with a decimal number, .585 corresponds to 14kt and
.750 corresponds to 18kt. Again, the higher the number, the more valuable the
jewelry.
Find Out the Buyer's Policy on Silver
Some gold buyers purchase sterling silver jewelry and others do
not. Never send an item of sterling silver unless you are certain your buyer
accepts silver. Many buyers will purchase platinum, but make absolutely certain
before sending any in.
What Happens to Gemstones?
Most gold buyers won't purchase any gemstones other than diamonds
that are at least one-quarter carat in size. Some buyers will return prong-set
gemstones and others won't. If you want any gemstones back that your buyer
won't purchase, make sure they have a policy of returning them or have them
removed before selling your jewelry.
Shipping and Handling Policies are Very Important
Unfortunately, dishonest gold buyers prey on people who impulsively think, "I want to sell my gold" and rush to send in their jewelry. Never ship any jewelry without purchasing shipping insurance, and choose buyers who video record the opening of shipments. Your buyer should ship your items back to you safely and with insurance if you choose not to accept their offer. Knowledge is power when selling your gold, so educate yourself before accepting an offer.
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