Issue Date: January 5, 2009
MoneySmart |
WALECIA KONRAD |
|
Is it time to sell your unwanted gold?
Sell as is or as scrap?
It depends.
|
With 24-karat gold at $807.80 an ounce at press time, is it time to unload that clunky bracelet? If so, Helena Krodel of the Jewelry Information Center has these tips:
For big pieces in good shape, hire an appraiser (najaappraisers.com) for an estimate based on condition, design and karat weight. Armed with that information, negotiate with jewelers who buy back gold.
Sell damaged pieces for scrap; most jewelers deal in it. Pure gold (24 karat) fetches top dollar, followed by 18-, 14- and 10-karat gold. Kitco.com posts the latest prices.
Never sell sight unseen. Websites may promise to pay for gold sent via a special envelope. But it's never a good idea to let go of jewelry before you're paid. Home gold parties, where a pro evaluates your goods as you socialize, usually are sponsored by a single buyer, so you won't have the chance to negotiate with several prospective buyers.
Want to know more about selling your gold jewelry, selling scrap gold, selling gold coins or gold investing?
|
