Gold is hitting record-high prices and rising. If you’re thinking of selling your gold jewelry for quick cash, there is no better time than now before market prices dip. However, don’t rush to sell just yet.
There may be a lot of places where you can sell gold in Indiana, but not all of them are good. In fact, most of them will try to buy your gold at the lowest price possible, especially if you try to sell online.
Making sure that you get the best prices for your gold jewelry requires a bit of research. In this article, AaLand explains how you can maximize your earnings and avoid pitfalls when selling your gold jewelry.
Tips for Selling your Gold Jewelry
Keep a close watch on value of gold.
Throughout 2020, gold gave an excellent performance against almost all asset classes. While gold prices are high right now, don’t forget that fluctuations do happen. Keeping an eye on gold prices can help you avoid selling at a bad time.
Know the real value of your gold jewelry.
Karat reading refers to the gold of a piece of jewelry. The maximum is 24. If the reading is lower, it means the jewelry also has other metals like nickel, copper, and zinc.
Gold jewelry usually has a karat symbol engraved somewhere on it (K, Kt, or kt). To determine the purity of your gold jewelry, divide the number by 24 and multiply by 100.
The higher your jewelry’s gold percentage, the more you can demand when you sell. In some cases, you won’t be able to see a karat reading on your jewelry, especially when it’s old or damaged. Ask your gold buyer to test your piece for purity before accepting the price.
Consider the intact value of your gold jewelry.
Not all gold jewelry is valued the same. The value of a piece may go up or down depending on factors like purity, age, history, and context.
For instance, heirloom gold jewelry may command a higher price than what it was originally worth. In this situation, it may be smarter to sell your gold jewelry intact instead of recycling it. You can get high cash value for an antique gold watch even when it’s broken, as long as you sell it intact.
To help you figure out the intact value of your gold jewelry, consult a reputable gold buyer in Indiana like AaLand. Before we offer you a price, we will look at many factors like workmanship, gems present in the jewelry, and other things. A sample is if a piece has become a collector’s item.
Find a transparent gold buyer with a solid reputation.
When trying to sell your gold jewelry in Indiana, you’ll come across many “rogue” gold buyers aka pop up buyers. You may also consider selling online or to a pawn shop. This is not a good strategy. Not only do they tend to underpay their clients, but also present a security risk.
Instead, go to a trusted gold buyer. These are the ones who are licensed, have been in the industry for many years, and has a transparent process for determining what your gold jewelry is worth.
AaLand Diamond Can Help You Sell Your Gold Jewelry
For nearly 50 years, AaLand Diamond has helped countless clients sell their gold jewelry safely, transparently, and at the highest prices. We buy all kinds of gold jewelry, including scrap gold, wedding bands, class rings, broken jewelry, odd earrings old coins, and more. Get cash for gold jewelry in Northwest Indiana— set an appointment today, and an AaLand representative will get back to you shortly.