Earning cash by selling gold jewelry is a fast and easy way to come up with a little extra money when in a bind. Even if you are not in a bind, you can unload your gold and get top dollar for your old and broken jewelry. With the historic gold prices of today, why not cash in on this opportunity? This may be the only time that you are able to get such a high price for your gold. Gold prices have been holding strong around $1,100 an ounce and there is no telling how long they are going to remain this high. You can sell your scrap gold to gold buyers in your local area or even on the internet.
If you decide to sell your scrap gold on the internet, be sure to know and understand the company that you are dealing with. Find out information such as how long they have been in business, how much they typically offer customers for their scrap gold, and how long it takes for them to send your money. If the company is fairly well known, there will be plenty of commentary on the internet both good and bad. You don’t want to avoid a gold buyer just because one person had a bad experience with them. It is difficult to please everyone, so there are going to be a few people that will talk poorly about a company no matter how their experience was. Look for a pattern of people who are leaving the same comments.
Before you send your scrap gold jewelry to your buyer, it would be wise to understand what your gold is worth. The value of your gold can be calculated by knowing the weight, purity, and current price of gold per ounce. Healthy Financial Habits has developed a formula for calculating the value of your scrap gold.
Scrap gold value = ((Karats/24) * weight in grams) (Current price per gram) (.80)
All you have to do is enter your variables and you will arrive at a dollar amount that should be close to what you will receive. If you don’t receive a reasonable amount of money, you should request to receive your jewelry back in the mail.
Author: Mike Smitt