Need Cash Fast? 4 Tips To Get The Best Price For Your Gold Jewelry

With the economy in the shape that it is, it can be difficult to make ends meet. If your budget just can't stretch any farther than it already has, you're probably looking for ways to make ends meet. One way to do that is to sell your old gold jewelry. In most cases, you can get cash on the spot when you sell your gold. Before you gather your old jewelry though, it's important that you know how to get the most money for it. Here are four tips that will help you get the best price for your gold jewelry.

Don't Be Confused by the Weight Difference

When it comes to selling your old gold jewelry, the first thing you need to know is that the weight is determined differently. With ordinary items weight is measured in ounces, with 28 grams equal to one ounce. However, gold is measured in troy ounces, which is slightly different. When measuring gold, 31.1 grams equals one troy ounce. Knowing the weight difference will prevent confusion when the dealer measures your gold, and you don't get as much money as you were expecting.

Separate by Karats

When you're gathering your gold jewelry to sell, be sure to separate it by karats – such as 12 Karats, 14 karats and 18 karats. This is particularly important when selling gold for the scrap value. Having your gold separated by karats before you head to the dealer will save you time. It will also help you to determine a rough estimate of how much your gold is worth.

Do Your Homework

Before selling your gold jewelry, take the time to do your homework. Do an online search to determine the going rate per ounce, as well as the scrap value for your gold jewelry. Print out the information you find, so that you can take the pricing guide with you when you sell your jewelry. This will ensure that you get the best price for your jewelry.

Avoid Gold Parties

Gold parties are fine if you're just looking to have a good time with your friends. However, when you're trying to get the best price for your gold jewelry, it's best to sell to a reputable gold and silver buyer.

If money's tight, and you're looking for a quick way to get some extra cash, it might be time to sell your old, gold jewelry. Use the information provided here to make sure you get top dollar.