You Sell Gold Jewelry According to It’s Karat
When you’re looking for a way to sell gold jewelry, chances are you’ll take it to a jewelry store, a pawnshop, a coin shop, a refiner or a scrap dealer who specializes in the valuable metal. But do you know how your items are handled as far as how they determine their worth?
Once you bring in your items, the business you’re interested in selling scrap gold to will weight the contents to determine your price and subtract a handling fee from that. If you choose to make a deal, that business will then melt down your items, extract the precious metal and resell it.
The content of the jewelry is weighed by how many karats it contains. If it’s a solid piece its karats will be 24. If the piece has less than 24 it will be less solid and will contain other metals as well. So the closer it is to 24, the better the cash amount.
Another way of knowing whether your piece is solid or even real is by the “k” mark located somewhere on the piece of jewelry. It may also contain a number, which represents the amount it contains. For example, 10k would mean 10 karat. However, if you can’t find a “k” anywhere on the piece, then chances are it’s not real.
That does not mean it isn’t worth its value. Many old pieces can be worth even more for their antiquity than as a way for you to sell gold. But if it’s just a heavy chain, bracelet or single mismatch earring that isn’t very old, then you’re better off weighing it in.
Of course you should also never sell gold jewelry that has any sentimental value no matter how desperate you may be. More often than not, you’ll end up regretting your decision and by then it’s almost always too late.
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