How to Sell Gold Jewelry Safely

Gold prices tend to go up when the economy is struggling. Since the worldwide economic downturn beginning in 2008, gold prices have risen. The price dips and rises, but overall, gold prices are still high. Gold has been melted down and recycled since ancient times, so selling your gold jewelry is something that has been done for thousands of years.

Which Jewelry is Best for Selling Gold

If you were around during the 1970s, when many men wore heavy gold bracelets and chains, then you may own the perfect gold for selling. Most people don't expect these pieces to ever be in style again, so it is unlikely that they have much resale value as jewelry. However, many of these items have substantial gold content and are perfect if you're interested in selling gold.

How to Deal with Gemstones

Beautifully designed jewelry with gemstones may have more resale value as used jewelry than it would if you recycled the gold. If you want to recycle gold with gemstones other than diamonds, you should remove the stones first, because most recyclers won't pay for any stones other than diamonds of at least one-quarter carat in size. Some gold buyers will remove prong-set stones if they're big enough, and then send them back to you. Be sure to find out the buyer's policy before shipping off your jewelry.

Where to Research Current Gold Prices

Gold prices fluctuate constantly, but if you visit the website of the World Gold Council you can get a ballpark estimate of gold prices. Keep in mind that your gold buyer is looking to make a profit too, and what you're paid will not be exactly what the current rate for gold is.

Choosing a Buyer

Knowing how to sell gold jewelry successfully depends heavily on finding the right buyer. Look for buyers that send registered packing envelopes that require a signature when you return it with your jewelry. All your shipments should be insured. Your gold buyer should quote you a price which you can accept or reject. If you reject an offer, the gold buyer should be willing to return your gold using a safe shipping method.