Has Selling Your Gold Lost its Luster?

The last 3 years has shown crazy growth in the consumer gold re-sale market, when gold hit $1000/ounce people went nuts selling their gold and other precious metals. While the buzz surrounding the high gold prices has subsided, the price of the metal has continued to rise. In fact, at the time publication time of this article, gold has hit another milestone $1200/ounce. This opens the door for even further profit to be made from selling your unwanted valuables.

I don't see the metal reaching heights much more than $1200, the economy is starting to turn around and eventually you may see investors become more enthusiastic about other investments. Most people have always considered Treasurey Bills the safest investment in the world, however the current government spending spree has killed the US dollar. So who knows maybe gold still does have legs but I personally don't see it going much further. With that being said, I think now is the time to clear out the valuables that are collecting dust and take advantage of the high prices.

Where do I sell My Old Gold?

There are 3 different ways to sell your old or unwanted jewelry and gold items, pawn shops, TV Cash For Gold Businesses, and traditional jewelry stores. From what I've seen and experienced, the best way to sell your gold is to take it to your local trusted jeweler. Pawn shops have always been notoriously seedy places, usually owned by some character that you wouldn't want to meet in a dark alley. I just don't think these are places that most people want to spent any amount of time in, you'll also get less from these types of businesses. Cash For Gold TV guys are the worst place to sell your gold, all the studies that I have reviewed have demonstrated that they are the lowest paying outlets on the planet. What's left is the traditional jewelry store and I think you'll find that this really is the best choice for selling your items. The benefit of going to a jewelry store is that you'll be working with someone that has many years experience appraising jewelry and they'll have the skills needed to assess your valuables. In most cases, gold buying is only a sideline business for jewelers and they can afford to make less profit when reselling your items. This will give you assurances and peace of mind that you've received the most for your jewelry.

What Items are Jewelers Looking For?

Jewelers are normally looking for any item made in 10k gold, 14k gold, 18k gold, and platinum. Condition doesn't matter, it could be broken or damaged and you'll still get the full value of the gold. I will caution you not to make assumptions that will disappoint you. One assumption is that an item that is in "new condition" or has never been worn should bring more money than an older or used item. Truth be known, it doesn't matter what condition the item is in because the jeweler will most likely melt the item.

Items that are of Interest

• Pocket watches
• Gold wrist watches
• Gold chains and necklaces
• Loose diamonds
• Engagement rings
• Wedding Rings
• Silverware/Flatware
• Gold coins
• Silver coins
• Rolex watches
• Tiffany & Co items

Choosing a Jeweler for Custom Jewelry Design

Like any other occupation or trade there are good jewelry craftsmen and there are bad ones. It is important to pre-screen your jeweler to determine if he/she is skilled at making custom designed jewelry. Ask to see their portfolio and examine their designs to determine if the flair they have for jewelry design matches your style requirements. Also, pay close attention to their communication and interpretation skills because much can get lost in the translation of your ideas if you're not careful. Once the jewelry is made its too late to make changes and the typical jeweler will not re-make it again without added fees.



At this point higher qualified and better skilled custom jewelry designers have moved to using 3D-CAD to create their designs. If you feel 2 jewelers are equally matched in aptitude and skills then you should choose the one that is using 3D-CAD design. You'll pay a little more to have your jewelry created in 3D-CAD but the final results will be amazing. The jewelry will look 1000% better than if it were hand carved and it will last much longer because of the precision of the jewelry model.

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