Many people have old gold jewelry or gold coin collectables that end up sitting in jewelry boxes or closets unused. Oftentimes people often hold on to jewelry that is outdated because they know it has value, but it ends up going unworn because it doesn’t match their style. Other times the jewelry itself may be broken, but they don’t want to spend the time or money to have it fixed. When it comes to gold coins these collectibles are frequently passed down through generations, but they end up collecting dust if the new owner isn’t an enthusiast. These pieces could be worth hundreds of dollars, which could come in handy in these less-than-optimal economic times. If any of these situations sound familiar, then selling your unwanted or unused gold might just be for you! There are several steps you will want to take when selling your gold to a jeweler or gold buyer. To ensure a positive experience you should have a baseline idea of what you have to offer, know how to research and identify reputable jewelers or gold buyers, and make sure you approve of and follow all the steps in the selling and purchasing itself.
Take Inventory of What You Have to Offer
After gathering all the items you’re considering selling, it is important to take inventory of what you have and write down any information you know about the pieces. What type of jewelry do you have and what quality of gold are they made from? Does the jewelry have any markings on it that tell you the karat of the gold? Or are any of the pieces valuable heirlooms that are still in good shape? Because gold is measured in karats it is important to know the karat of each piece, as varying karats will give you different prices. Additionally, certain rare antique jewelry may be worth more than the melted gold itself!
Unfortunately, sometimes the jewelry that ends up in our hands has been passed down from generation to generation and a lot of this information isn’t known. Some sellers like to do a little research into the current market value of gold to have a general idea of what to expect. However, in these circumstances it becomes very important to choose someone you can trust when it comes to selling your gold. The additional benefit of working with a trusted jeweler over your average gold buyer is they will not only be able assess the quality of your gold, but they will also be able to spot the value of the existing piece as it is. A truly knowledgeable jeweler with gold buying services can advise you on whether selling the gold itself or selling the existing piece would be your best option.
How Do You Find A Trusted Gold Buyer?
It is very important to choose a reputable gold buyer when it comes to selling your gold. Be sure to exercise caution and research thoroughly before you make that final decision. If you are selling gold jewelry items, it is always a good idea to go with a trusted jeweler over someone that only buys gold because they can provide more insight into any accompanying jewels or gemstones that are part of the jewelry piece.
Look for jewelers that have a strong reputation in the industry and never be afraid to ask questions! Trust a jewelry store that has not only been in business for a significant amount of time, but also one that has positive customer reviews. You can always begin by doing some basic online research to find jewelers in your area. One very convenient and helpful way to begin determining whether a jeweler is trustworthy or not is by reading customer reviews. While reviews on their website may be helpful, you should always read ones on outside sites as well. Weigh any negative feedback or complaints against the positive experiences shared by previous customers.
Once you have a list of a few jewelers you might want to work with, give them a call to ask them about their process. A trustworthy jeweler will be more than willing to take the time to share information about their gold buying services such as the types of jewelry or gold they buy, their pricing policies and whether they hold any certifications or memberships.
If you feel you have found a suitable jeweler or gold buyer, visit their store to ask any additional questions about their gold buying process. Information found online or over the phone is a great starting point, but an in-person visit will help you assess their professionalism, knowledge, and overall customer service and being in the store itself might bring up some additional questions you didn’t think of before. Spending this extra time will really help gauge the reputation, reliability, and customer service you can expect from a jeweler that buys gold.
The Process Of Selling Your Gold
After all your questions have all been answered, the jeweler will then assess the quality and weight of your gold items to determine their value. Based on this evaluation, they will make an offer to purchase the gold. As previously mentioned, there are many factors that go into pricing gold and any reputable gold buyer will be able to explain how your items have been valued. If you feel that the offer you have received for your gold is not what you expected, ask for clarification.
When a price has been agreed upon a trusted jeweler or gold buyer will ALWAYS require some basic paperwork, a form of identification, and your signature. By law, a gold dealer must take your identification and signature. This protects both parties. Most states also have additional fees or taxes associated with the purchase and these should be explained to you as well. The terms of the sale should be written out in detail and both parties should retain a copy for proof of sale.
Fortunately, the gold buying process can be a straightforward, relatively simple process if you take the time to do a little research. By taking a little extra time and going through the process, you can easily turn unwanted jewelry items into some extra money! At Forever Diamonds Jewelers, we take pride in our professional gold buying services. Whether you have sold gold before or this is your first time, we will take the time to make sure you feel comfortable, informed, and secure in your gold selling experience.