Selling scrap gold to a metal refiner, you first may want to get prices from jewelry stores..

You have the choice to receive the greatest amount of cash for your scrap gold. For many people, a company like Cash4Gold is the optimal option because they purchase jewelry and gold of any kind. Damaged necklaces, single earrings, dental gold, and anything with gold and silver in it.

But if you have a piece of jewelry which is valued much more than just the metal that makes it up? You assume you can get more money from a jewelry store for selling your items.

But wait, here’s what you have to know so there aren’t any surprises!

You Can’t Trust Engraving

Skilled jewelers and special equipment can tell exactly what kind of gold makes up jewelry. Your piece of jewelry might not be as valuable as you think.

The engraving on jewelry marks its karat, or gold purity level. Some countries have no rules and laws requiring that engraving be authentic, and some don’t require a 3rd party to verify jewelry’s gold content. It’s likely your piece of jewelry is wrongly imprinted to misrepresent the content for the seller to earn more cash.

Retail Value Does Not Reflect the Scrap Metal Price

It’s easy to assume that you sell to a gold refiner, you will get paid slightly less than retail for your old jewelry. Gold buyers only buy the intrinsic value of the metal within the jewelry, not its quality or appeal.

Jewelry stores work on very large margins, and can mark up prices by three to twenty times their metal’s worth. Even jewelry purchased on sale will still be a lot higher than the metal’s value. The precedence is akin to buying a brand new car. As soon as you take it out of the store, the value of the automobile falls dramatically.

Jewelers Use Appraising as a Marketing Gimmick

When you take your scrap gold and jewelry to a jewelry store for appraising, there is a likeliness that the appraised price is for trade-in only. This means that you will not get cash for your gold. Jewelry stores expect you to buy another piece that’s marked up three to twenty times its metal value.

About the Author:

Craig Gold is an author for Where to Sell Scrap Gold blog.

Article Source: ArticlesBase.com – Three Things to Know When Selling Gold to Jewelers

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