Selling Gold: What To Know

April 24, 2022 12:00 am Published by Leave your thoughts

Gold is a valuable commodity and often keeps its value, making it a top choice when you are looking to sell your possessions. No matter if you need money or are looking to declutter your home, gold offers a good return price when sold.

However, like any other specialized item, you’ll want to do some research to ensure you are getting the best price for your gold items and jewelry. When you learn how to sell gold jewelry for cash, one of the first things you’ll note is there are several details to keep in mind. Not all gold is the same, and not all gold jewelry has the same value.

Valuing Your Gold

The question of how much do you get when you sell gold jewelry does not have a precise answer. Gold has a lot of variety and variances which affects its value. Here are some factors that help set the value (and overall sale price) of gold items.

  • Color: The color of your gold jewelry can tell you exactly what it is made of, as gold is often mixed with other metals. Yellow gold is pure gold and the color you most likely associate with the metal. Rose gold owes its pink tint to mixing pure gold with either copper or silver. White gold is gold that has been mixed with a white metal such as platinum, zinc, or nickel. Finally, green gold is a blend of gold and silver or copper.
  • Karat: This measurement notes the gold purity in an item with 24K denoting pure gold. 24K is rarely used in jewelry simply because it’s too soft and would be easily damaged. Gold jewelry typically has a karat range of 10 to 22, with 14 karats being the most commonly used in jewelry.
  • Other Markings: Other indicators can tell you a lot about what your jewelry is made of. These include GP, which indicates an item is simply gold plated. GEP indicates gold electroplated, which is a higher-quality gold plating. GO means an item has a gold overly, and GF indicates gold filled. Finally, 925 indicates a silver item that is gold-plated, commonly referred to as vermeil.

Final Thoughts

Jewelry can be a beautiful accessory, an heirloom, a statement about your personality, and also something of value. When you want to sell your jewelry, you want to ensure you get the best price possible. Part of that is knowing what you have. However, you should also be patient, shop around, and be sure to keep your jewelry well cared for and organized.

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