The United States Department of Treasury currently has over 250 million tons of fine troy ounces of gold. Does that mean gold is a cheap commodity that doesn't sell well?
Absolutely not. If you are looking to make a decent return on some gold jewelry you have lying around the house, now is a great time to cash them in.
But what should you know before reaching out to sellers? What do I even get in return for selling gold jewelry and chains?
That is what we will be looking at today. In this article, we will outline why selling gold jewelry is still beneficial, and the factors you should know before reaching out to sellers.
Why Should You Sell Your Gold Jewelry?
People are often hesitant to sell their gold jewelry for a variety of reasons. They might not think they can get a fair price for each ounce, or they think the market just isn't right to sell.
With that being said, if you have some unwanted hold jewelry laying around, selling is always a viable option.
While it's true that market fluctuations affect the price of gold, it's still considered a valuable commodity that can sell pretty well in any given year. Selling gold jewelry can definitely net you some profit depending on what you're looking for.
You'll most likely get more money selling gold than other precious metals. As of right now, gold sells for over $1,000 an ounce, which we think is a pretty decent price.
For those that think storing gold will increase its value in a few years, that might not actually be true. The value of gold increases very steadily, meaning you'll have to wait pretty long to see your gold spike in selling price.
Three Factors to Consider Before Selling Gold Jewelry
If you decide you want to put your valuables on the market, there are some key pointers to help you find the best way to sell gold jewelry. Where to sell gold jewelry is almost just as important as understanding how to sell gold jewelry.
Collect Your Invoice
When you initially bought your gold jewelry, you might've received an invoice. This invoice is used to check your gold's purity when you trade it in the future.
Having an invoice ready will prevent sellers from disputing its purity and other factors, allowing you to get a fair price for your piece.
Understand the Jewelry's Worth
Knowing exactly how much your piece is worth will prevent you from fraud when selling gold jewelry.
Get quotes from multiple shops, and always check for purity. Having this information puts you in a much better position to barter for a fair price.
Find the Right Seller
This goes without saying, but finding the right seller for your gold jewelry is extremely important.
You obviously need to find someone that won't rip you off. You also want to do business with people who know what they are talking about and can give you actual advice on selling gold jewelry.
Some top precious metals dealer websites are excellent places to sell gold. Find the right gold jewels seller to get the right price.
Make Selling Gold Jewelry a Seamless Experience
Letting go of gold jewelry can be daunting if you are afraid that you won't get a good price for it. But holding onto gold jewels might do more harm than good.
Leverage this article to not only find the best gold seller for your piece but to have all the right information to get the best price possible.
For more articles on jewelry and precious metals, visit our blog! We publish a wide variety of helpful articles on gold, silver, minerals, precious metals, and the jewelry industry.
