4 Tips for Selling Gold Jewelry for Cash

by Kevin Smith Author

Have you considered selling your gold jewelry? If you have some old rings and bracelets lying around — and you're unlikely to need them anytime soon — why not sell them to one of the companies that advertise "We buy gold!" Atlanta has dozens of such stores who'd love to give you cash for gold jewelry you don't need. Here are some things to keep in mind.

1. Think Like an Investor

Keep track of the gold markets. The price of gold can fluctuate a lot, and you don't want to sell your jewelry as the price is dipping since you're not maximizing your profits. You're the one with the gold, so unless you're in a panic, you can wait until the prices for gold are high. Check the price of gold on a trusted buyer's website to see which way the market's trending.

2. Evaluate Your Jewelry

A lot of gold jewelry will have a karat rating printed directly on it. The karat is an indication of the percentage of gold that is within the jewelry. With 24 being the highest, every karat rating below that means the jewelry contains some percentage of zinc, copper, or nickel. If you divide the karat rating by 24 and then multiply by 100, you can come up with the jewelry's gold percentage. Multiply this by the current price of gold, and you'll have a decent estimate of what your piece is worth.

3. Determine the Craftsmanship of Your Piece

While much gold jewelry will be appraised mostly by the amount of gold that's present, some jewelry will have value added due to its craftsmanship or historic nature. Are you considering selling a family heirloom? If so, make sure you know as much as you can about the history of the piece. It may be worth more than you think.

4. Find a Gold Buyer

There are a lot of people and companies that buy gold in Atlanta, but you'll want to make sure you're going to the right ones. Before considering an offer, make sure the buyer is reputable, licensed, and have years of experience. Once you've determined that they're legitimate, have them appraise your gold for free. Comparing offers from three or more buyers will help you get the best price.

Once you've gotten what looks to be the best possible offer, sell your gold, and collect your cash. Taking these steps is the most effective way to profit from all those companies that say "We buy gold!" in Atlanta.