How To Sell Gold Jewelry

Life has a way of throwing curve balls when you least expect it, and in a financial pinch, knowing how to sell gold jewelry can mean the difference between paying your rent on time or moving back in with the folks. The price of gold has been on a steady incline, and services urging viewers to mail in their gold for money have littered the screens of televisions everywhere. As tempting as that may sound, you should know all of your options when it comes time to sell gold jewelry. If nothing else, do a little research before blindly sending what could be potentially cash in your wallet to companies unknown and unseen. When you need to sell gold jewelry, knowledge and research are key to making the right decision.

1. Check for licensing. Always be sure to check that the merchant that you take your gold jewelry to is properly licensed in your area before proceeding with the transaction. This includes precious metal dealers and pawn brokers.
2. Have it appraised. Before attempting to sell gold jewelry always know the value of what you're selling. Seek out the services of an appraiser who can tell you exactly what your jewelry is worth.
3. By mail. Over the past several years, more and more businesses have appeared offering to buy your gold and gold jewelry by mail. In these cases you place your jewelry in an envelope and mail it away to the buying company who weighs it and sends you a check in the mail. Do your research and only use companies that are licensed to do so and have few complaints by disgruntled sellers. When sending your jewelry away by mail, be sure to take pictures of what you've sent and remove any gemstones and any other parts that are not gold. Go with a company that has shipping that you can track.
4. A jewelry store. This may be one of the more lucrative ways to sell gold jewelry if you have quality pieces. Always go to a reputable jeweler and know what your gold jewelry is worth.
5. Pawn shops. Going to a pawn shop may not be the most prestigious ways to sell gold jewelry, but if you need money quickly then they're probably the way to go. Just beware, you'll likely make less than you would at a jewelry store and definitely less than what your jewelry is worth.
6. Online auction sites. If there isn't a sense of urgency when selling your gold jewelry, using online auction sites, such as Ebay, are a great and potentially lucrative way to sell gold jewelry. By using this type of service your jewelry will be exposed to millions of potential buyers who will likely pay close to if not more than what you are looking to sell it for.

References:

Ohio Department of Commerce