Selling Your Gold PDF Print E-mail

Recent economic developments have brought with them many opportunities for consumers to take advantage of some impressive values in purchasing fine jewelry. Those looking to sell jewelry however, especially those interested in selling their gold jewelry, have actually been delivering, not just impressive values, but extraordinary values to many of the gold buying outfits which have sprung up locally and even nationally. Based on research by the Arizona Jewelers Association,  many gold sellers have actually been receiving something approaching one-third of the actual metal value of their gold. In light of this, those considering selling gold and gold jewelry would be well advised to do some homework first.

 

The first order of business is to use some common sense. The market is filled with traveling gold buying companies supported with television and full page newspaper ads; gold buying parties; barber shops and gas stations with gold buying signs and even national television ads to just pack your gold in a box and send it in for an offer. When businesses spring up almost overnight in some areas it’s usually because there’s a chance at ‘easy money’ (think mortgage brokers a few years ago) so bear in mind a twist on the old maxim, caveat venditor - let the seller beware!

Here’s a simple formula to help you get fair value for your gold:


Gold bought by the gram:

For 10 karat: Today’s gold price x 0.010 = Approximate price per gram
For 14 karat: Today’s gold price x 0.014 = “
For 18 karat: Today’s gold price x 0.018 = “
For 22 karat: Today’s gold price x 0.022 = “



Gold bought by the penny weight:

For 10 karat: Today’s gold price x 0.015 = Approximate price per pennyweight
For 14 karat: Today’s gold price x 0.022 = “
For 18 karat: Today’s gold price x 0.028 = “
For 22 karat: Today’s gold price x 0.035 = “