Sometimes it is better to sell the gold that you have no use for rather than hoard it at the back of your cupboard. A pawnshop is definitely a bad idea, but selling to a jeweler makes much more monetary sense. There is however, a step by step process you should follow in order to get the best value for your gold.

The first is to sort through your jewelry and decide on what you want to keep and what you want to get rid of. Try and keep the pieces that have some sentimental value attached to them. Next, check every item of gold that you plan to sell. It should have a gold grade stamp on it. For bracelets, bangles and necklaces you will find it on the inner portion of the clasp. For earrings, you will find it on the back of the earring piece itself. Use a magnifying glass to determine whether the gold has been marked with a K to indicate karats or with three digits. This indicates fineness of the gold. The marking varies with each country.

Now that you know your gold well, take it to an accredited jeweler or goldsmith. The business at such places depends on their reputation and you are definitely less likely to get cheated at a place like this. Gold that is bought from you is melted down to create new pieces or else it is exchanged for some other gold item that you may have liked. Of course it has to match the value of the gold that you put on the table.

Ask your jeweler for a quote. If you think you can get a better deal, get another opinion. You then settle for one that gives you the best deal. This has to be done quickly because jewelers’ quotes don’t hold for too long. This is of course dependent on the fluctuating gold rates. When dealing with jewelers find out if they are members of Jewelers of America. Also check on their membership with the American Gem Society. These memberships give them more accountability as well as high standards of professionalism.

Keep in mind that just because you seem to have a lot of gold, does not mean you will get a lot of money. When gold is taken to the jeweler, the precious stones are removed and you will also be charged a handling fee. All of this will eat into the final price you get. It is therefore advisable to look around and get a number of quotes before you actual settle on a deal.

Sell old gold for more money that you ever thought possible by cutting out the middle man and sending directly to a real jeweler.

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