Make Money Selling Old Gold Jewelry
Chances are that you have accumulated gold jewelry over the years which you no longer wear or use. For many people, there is jewelry in their bedroom that they had completely forgotten about over the years. In today’s hot gold market, it’s a great time to earn some extra cash by selling that old jewelry to gold refiners who can help you realize its hidden value.
While your old gold jewelry might no longer be fashionable to wear, older jewelry often has a higher gold composition than today’s jewelry, which means it is worth more when trading it in for its precious metals. The design of the jeweled piece does not determine the value to a gold refiner – rather, the refiner will judge the piece on the basis of the gold content and condition. Pure gold pieces are 24 karats and command a premium price, while newer, gold plated jewelery might only have 10 karats of gold content, which greatly dilutes the value.
Another important point to keep in mind is that you can sell jewelry which might be broken, since it will draw value from the precious metals it contains, even if it is not usable for fashion purposes. In fact, probably the best way to make money on your jewelry set is to identify the pieces that you can no longer use and unlock their metallic value, rather than paying for repairs. You might be surprised how much value is contained within those pieces – older jewelry can have solid gold content, which commands a premium price relative to other pieces. While gold has been the standard jeweled metal for centuries, you can also sell and realize the value in your silver, platinum and palladium pieces, which may have a value that even exceeds gold, depending on the condition!
In addition to the gold you have in your collection, make sure to review all of your old collectibles from silver wear to collectible plates and coins, as many of these pieces can be transformed into precious metals at good prices, rather than sitting around unused. While these might fetch only a small price at a garage sale or market, they often contain a good amount of precious metals which you can use to translate into cash today. Take inventory of all of your old collectibles to determine which you want to keep, and then sort through the remainder to determine which might be good candidates for sale. Some of your coins might have more intrinsic value, while others may be worth more for their metals – you’ll want to get the best prices, so carefully evaluate all of your choices.
While there is a lot of uncertainty in today’s economy, you can give yourself a bit more financial security by transforming your old metals into cash. No matter what condition you might think your old jewelry is in, you can realize the hidden value from its precious metal materials to start generating an unexpected cash flow today.
