How to Sell Gold & Gold Jewelry

Recommendation: The Best Way to Sell Gold Jewelry

Gold prices are nearing record highs. If you have old gold jewelry, now is a great time to sell your unwanted gold for cash and take immediate advantage of the currently high value. This guide will explain how to easily sell gold jewelry.

There are plenty of different ways to sell gold, but not all methods are equal. In order to get the most cash for your old gold jewelry, we generally recommend selling your gold online through a reputable buyer. You’ll usually get a better price online than you would selling to a small jeweler or local pawn shop.

How to Sell Gold Gold Jewelry

How Much Can I Get For My Gold Jewelry?

The amount of cash you can sell your gold jewelry depends on the weight of the gold you have, and its purity. The purity of gold is measured in karats (99.99% pure gold is 24 karat gold). When you hear people talk about the price of gold, they are referring to the price of 24k gold.

Gold jewelry is not pure gold. It is commonly created with less pure forms of gold, such as 10k gold, 14k gold, and 18k gold. The value of your gold jewelry depends on the amount of pure gold that can be extracted when it is melted down. 

What is the Value of Gold Today?

The price of an ounce of pure gold changes by the minute. Generally thought of as a hedge against the stock market, gold prices typically increase in value as the stock market decreases. With recent volatility in the markets – this bodes well for the price of gold. Prices are typically listed as a pure ounce of 24k gold.

What is the Best Place to Sell Gold?

There are three places who will buy gold from you that we recommend – reputable online gold buyers, pawn shops, and local jewelers. Each option offers it’s own set of advantages and disadvantages. 

Selling Gold Online

Advantages – best prices, easy process, flexible payment options.
Disadvantages – shipping required, 24-48 hour wait for payments

If you have pieces of jewelry, gold coins, gold bullion, diamond rings, precious metals, or basically any other gold item, selling it online will usually get you the best price. If your main focus is getting the most cash for your unwanted jewelry, you’ll want to go the online route.

Why is this? Pawn shops and small jewelers generally have higher costs associated with running their business. Online gold buyers run with lower operating costs, so they can afford to take a lower margin. This means that you can generally get a better price than you usually would walking into a pawn shop. 

Selling gold online can be a bit overwhelming at first, but it is a simple process. Although the exact steps vary depending on who you work with, our process follows these steps:

  • First, fill out our online form with your contact information.
  • We will email you a free, printable shipping label that you can use to mail your appraisal items to our service center.
  • We will evaluate your items and provide you with an offer for them based on the weight and quality of your gold and precious items.
  • If you accept the offer, you’ll be paid by your choice of check, PayPal, Venmo, or basically any payment method you prefer.
  • If you reject the offer, we will send your items back to you free of charge.

Selling Gold at a Pawn Shop or Local Jeweler

Advantages – instant payment, no need to ship
Disadvantages – lower prices, high-pressure process, potential for uneducated staff.

Most pawn shops and jewelry stores will purchase gold jewelry and other valuables for cash on the spot. While you will almost always get a lower price than selling to an online gold buyer, you get instant payment without the need to mail your items. In order to increase the cash offer, we recommend bringing receipts, boxes, or anything that could provide a jeweler or pawn shop value.

If you would prefer to sell your gold in person, there are a few things to keep in mind. Generally, most jewelers and pawn shop staff are very knowledgeable about buying gold. However, there is the potential for you to encounter salespeople who are less knowledgeable on the subject. Some may expect you to negotiate which adds pressure to the experience, and others may be unwilling to negotiate with you at all due to lack of comfortability. 

If possible, try and visit a few pawn shops and jewelers before deciding to sell. You can find that the value of your items may vary greatly depending on the store and the associate you meet with.

Conclusion

We hope this guide has helped you learn how to sell your unwanted gold and jewelry. If you are ready to get the process started, you can fill out the form on this page to get your free shipping label and sell your jewelry and gold for the most cash online.