Cash for Gold Tips to Most for Your Old Jewelry

While the price of gold is no longer rising as astronomically as it was a few years ago, your old gold jewelry is still worth a pretty penny. The cash for gold business is still going strong, and most people will get more money when they sell gold jewelry for scrap than they’ll get at a pawn shop. If you’re considering selling your old gold jewelry for cash, these tips can help you get the best price for your gold and precious metals.

Know the Price for Gold

Keep up on the price for gold – you can bet the cash for gold places do, after all. Know the going price for gold on the day you sell gold jewelry so you can evaluate whether you’re being offered a fair price.

Know What You’re Selling

Before you ship off your gold coins or jewelry to an online cash for gold dealer, make sure you know exactly what you’re selling and what the dealer will accept. You can expect to be offered more for 22-karat gold jewelry than you will for 18 karat gold, for example, and most dealers won’t accept any pieces that are less than 14 karat.

Remove Precious Stones

If you’re selling to a cash for gold dealer, they’ll have no interest in the gems or stones in your jewelry, and with few exceptions, they won’t pay you for them. Others, like we at GoldFellow, will buy some gemstones – we buy diamonds larger than 1/4 carat. We'll also remove other precious gems from that are set with prongs and return them to you for a small shipping fee.

Weigh Your Gold Pieces

Cash for gold dealers will evaluate your gold jewelry or coins based on their weight. The best way to establish whether you’re being offered a fair price is to weigh your pieces before you send them.

Deal with Honest Brokers

The current economic climate has brought a lot of scam artists into the market. The Better Business Bureau reports that they receive more than 500 complaints a year about cash for gold businesses. Before you send off your precious metals, check the reputation of the company you’re dealing with. At GoldFellow, we have been in business for years and have a well-established reputation that you can trust.