You may consider selling it for cash if you have unused gold jewelry lying around or packed away, so you can purchase anything you want. Of course, it is a priority to get the highest dollar payoff for your gold jewelry; the question is, when sold as jewelry or when sold as scrap, is your gold worth more? For the greatest reward, the following guide will help you decide how to sell your gold jewelry.
Via family generations, a lot of jewelry is passed down, making it almost impossible to know the source of a given ring, necklace, bracelet, or brooch. Even understanding what you have is crucial before you decide to sell. The easiest way to figure out what you have is to take your jewelry to a trained jeweler or jewelry appraiser. You may also consult price guides for jewelry, which feature photographs for comparison purposes. Here are some tips to look for, as a general rule:
If the gemstones are genuine on your gold jewelry, they may be worth a considerable amount when sold separately from the gold itself. On the other hand, some vintage pieces (older than 25 years) or antique pieces (older than 100 years) may have greater value when sold intact.
Hallmarks in gold
The majority of gold jewelry is stamped with hallmarks that reflect the values of their karat. The higher the value of the karat, the greater the percentage of gold in a particular piece. Popular values for karats include:
24 karat gold indicates that 99.9% pure gold, 18 karat gold corresponds to 75 percent gold (18 parts gold and six parts alloy)
12 karat gold corresponds to 50 percent gold (12 parts gold, 12 parts alloy)
Gold hallmarks are not generally uniform, and there are no hallmarks at all in some old items. In any of the following ways, an 18 karat gold ring may be marked: 18k.
Knowing the gold composition, along with its Troy weight (ounces), will help you assess its scrap value, which will help you make a smart selling decision relative to its market value.
Many jewelers use maker’s markings on their jewelry, similar to gold hallmarks. Maker’s marks give the knowledge of who made a given item and provide insight into its age, rarity, and production method (handcrafted versus factory, for example).
Is my gold jewelry more precious than its gold weight?
Again, getting your jewelry properly checked by a competent jeweler is the best way to address the question. There are many important examples of jewelry that, if you will, commanded more value than the number of their pieces, including an 18k gold bracelet created by Boucheron. This Parisian jeweler was worth around $4,000 in gold scrap but more than $40,000 as an entire jewelry piece (Skinner).
The designer of a piece of jewelry will directly affect its value, as in the above example. Even pieces that appear badly made can be valuable, as their imperfections are the product of flaws in handcrafting and not in manufacturing. Finally, some valuable jewelry is not labeled, increasing the need for a professional appraiser of jewelry. Kovels is one of the online resources that can help you assess your gold jewelry market value, and you can link to several books on the subject.
All that said, there is no resale value for the vast majority of gold jewelry. Reproductions are also pieces that appear as if they could be old and precious. Sellers also have high expectations of reaching the jackpot, only to be disappointed if they discover nothing is worth their jewelry. So, chances are your gold jewelry’s worth lies in the gold alone.
If you believe that one of your pieces of gold may be more valuable than the gold it holds, gets it tested professionally. You may try to sell it to collectors or through an auction house if it is still valuable, which would net you more money in the long run. If your piece of gold is worth its weight in gold only, then for its gold value, you can aim for the greatest payoff.
How to get your gold jewelry’s greatest payout
You can always optimize your reward by comparing deals from gold buyers once you’ve ruled out any extraneous value. While most gold jewelry has no collectible value, its weight in gold is worth it – and gold is still precious. To sell Gold in Hatton Garden contact London Gold Centre.