Selling Gold Jewelry

[MDmomof2]

I have 3 gold bracelets and a pair of hollow hoops I never wear anymore and I'd like to sell.  Everything I read about selling gold jewelry suggests that you do a ton of research on gold prices and weights so as not to get ripped off. I don't think I'll get much for these so I'd like the process to be easy. If you've done this, were you happy sending it off someplace? Taking it to a jewelry store in the mall?  A local chain?

Any advice is appreciated!

[lmdbww]

I did this years ago. I just went to the closest place by me that did cash for gold. They'll test all of it before they buy it. Process was super easy and it was a great way to unload stuff I never wore. I got a few hundred.

[Deleted]

Do you want the money or do you want different jewelry? I would probably look to trade them for credit toward a new purchase, I know a lot of independent jewelry stores - especially those that deal in estate jewelry - do this.

[MDmomof2]

Hmmm, I wasn't thinking about getting new jewelry, but maybe I should. I was thinking that I'd buy a few things for my work wardrobe but I really don't have much jewelry. I'll give it some thought and look into a credit, thanks!

[alleinesein]

24k Gold is currently selling for $1207 per ounce. Its $38.88 per gram and unless you have some seriously heavy and solid gold jewelry you wont get that much for it. Your earrings are maybe a few grams and depending on the bracelets you might only have a few grams per bracelet (unless they are heavy bangles)

18k gold is going for $905 per oz
14k gold is going for $706 per oz
10k gold is going for $503 per oz

Expect to get maybe 30-60% of the current market price if you sell it.

[frannyr]

I did a cash for gold that was set up by a jewelry store at a hotel. They weigh and give you a price (and cash) on the spot.

My friend's mother saved all her gold pieces that she never wore and took them to a jewelry store and had them melted into a heart charm that she gave my friend for college graduation. She saved the pieces for years to do this and it was very sentimental.

[Deleted]

I had some old chains/bracelets that were from old high school boyfriends that I took to our local jeweler. I chose a real jewelry store, just because I was paranoid about making sure I got someone who knew what they were doing. I did know the price of gold for that day, and they just took it, weighed it, and wrote out a check. I think we got almost $300 for it. It was not a lot of gold, but this was a couple years ago, and it had really peaked then. It was painless.

[treedimensional]

Feb 19, 2015 15:37:32 GMT -5 alleinesein said:

  Its $38.88 per gram and unless you have some seriously heavy and solid gold jewelry you wont get that much for it. Your earrings are maybe a few grams and depending on the bracelets you might only have a few grams per bracelet (unless they are heavy bangles)

Expect to get maybe 30-60% of the current market price if you sell it.

This is how I remember it. Payment was by the gram. A chain that cost over $300 might be about a gram (if it's long!), so you get less than $40 bucks... WAY less than you paid for it. Pretty shocking but they don't pay you like it is a beautiful, detailed piece of jewelry. They pay like it is a raw blob of metal, never made into jewelry. You can get more selling it to someone who wants gold jewelry.