After years of buying or collecting jewelry, it is inevitable that you will end up with jewelry that is old and broken, or scrap jewelry. Scrap gold jewelry can quickly build up in your jewelry box, taking up space and getting tangled with your good jewelry. If you are tired of sorting through your scrap jewelry, you should consider selling it. It may seem like selling scrap gold jewelry is not worth the effort, but the scrap items are still worth the materials they are made from, especially gold, silver or platinum scrap. Selling your scrap gold jewelry will not only free up space for your good jewelry, but also result in some extra cash that you would not get by simply throwing it away.
Before selling your scrap gold jewelry, review the following information to help you get the most for your items.
Scrap jewelry may seem worthless because it is no longer useable, but scrap gold, silver, and platinum will always have value.
Scrap jewelry may seem worthless because it is no longer useable, but scrap gold, silver, and platinum will always have value. Besides, scrap jewelry is most likely an annoying presence in your home so why not make some cash as you rid yourself of these items? There will always be a market for you to sell your scrap gold jewelry as gold is consistently one of the highest valued precious metals. The gold market is rather fluid and tends to fluctuate, but the price of an ounce of gold has been consistently above $1300 since the beginning of 2018.
It is important to have a basic understanding of the gold market, so you can research current gold prices which will help you get a better idea of what your scrap gold jewelry is worth.
Once you have become familiar with the gold market and how to find the price of gold, you can turn your attention to selling your scrap gold jewelry. Looking up the current price per ounce of gold and the gold spot price is the first step in determining the value of your scrap gold. The price of gold is commonly given per ounce, but you can also easily find the current price per gram or kilo of gold.
In addition to looking up current gold prices, you should also determine if your scrap gold is worth more as scrap jewelry or as melted gold. Knowing this can help you get the most money for your items as selling certain items as scrap instead of jewelry could get a lower return. The best way to determine if your scrap jewelry is more valuable as gold or as jewelry is to have it appraised at a reputable jewelry store.
Now you are familiar with gold prices and know how you are going to sell your scrap gold, follow these tips to get it ready for sale:
When you have a good idea of what your scrap gold is worth and have prepared it for sale, you can take it to a trusted gold buyer to get a fair appraisal. At PGS Gold & Coin, we have built a reputation as the most trusted gold jewelry buyer in the Chicago area because we routinely offer better appraisals than other jewelry buyers. Our professionals will weigh and evaluate your scrap gold jewelry and offer you a fair price on the spot, so you can leave with cash in hand. Bringing your scrap gold to our professionals is the best way to ensure that you get the most for your items.
You can bring your scrap gold jewelry into one of our PGS Gold & Coin stores in Wheaton, Palatine, or Schaumburg, IL.