Selling off your unwanted gold is such an easy way of earning some extra cash. However, finding the best deal in the market isn’t always easy. Just to mention, there are numerous companies to choose from. Whereas some can provide tempting offers, others may not offer the best price. Others can also take more time such as online trading websites and high street jeweler.
To begin, some of the items that could contain gold and can be used to get cash for gold jewelry include the following.
- Class rings
- Wedding and engagement rings
- Tooth fillings
- Old serving dishes
- Bullion bars or rounds among others
That said, the following tips will ascertain that you get the best deal when it comes to cash for gold jewelry.
- Find the best time to sell gold
In any business, the rules of supply and demand dictate a lot. Just to mention, if people want to buy or invest in a commodity, its market price will definitely increase. Gold is seen as a safer bet compared to shares and stocks thus having more demand. This is why you should consider the state of the economy before thinking of getting cash for your gold jewelry. If the times are harder, consider holding them until the prices rise.
- Think twice before going for cash for gold companies
Despite that cash for gold companies’ specialist are convenient in selling gold, people who have tried it attest that they are unlikely to get you the best in terms of money for your precious metal. Compared with high street jewelers, pawnbrokers and other online gold buying stores, cash for gold companies have relatively poor prices. Nevertheless, compare prices across the various vendors before settling on one. However, don’t rush.
- Get an estimated value for your gold
Assessing the price of your gold is of immense importance before putting it out for sale. This can be done by looking at the various hallmarks such as the weight of your gold jewelry. Besides, a high street jeweler can give you a firm idea of how much to expect from the piece of jewelry.
- Don’t be afraid to haggle
Haggling is important if you think you are not getting a better offer in the deal. This can be done best by involving several dealers. Since they all compete for the jewelry, try to negotiate until you find the best price for your gold. Get quotes from the various jewelers and play them off against each other. This is especially important when you have quite a lot of jewelry to offload.
- Try selling online
This can be a better option for those living in areas with few jewelers or if you can’t find a better deal in your area. There are various legit and trusted online stores such as eBay.
Getting cash for gold jewelry, as mentioned, can be quite a daunting task. However, the tips highlighted above can come in handy in simplifying your search. Note that it is better looking at the value of the whole item and not just the gold. There could be other precious stones and craftsmanship that offers immense value. Last but not least, compare the cash for gold company’s reputation before engaging in any form of business.