What Is The Price For Selling Gold Jewelry

Many sources including the kiplinger article mentioned above suggest that you should aim to get 90 to 95 of the spot price when selling gold and silver bars or coins and 70 to 80 of.

What is the price for selling gold jewelry.

Determining melt value to determine the melt value of your gold piece use the weight of your piece measured in grams the purity of your piece measured by percentage and the current. It s difficult to get the same resale value when selling your gold and silver jewelry than other bullion products. If selling gold to be melted down make sure it is not worth more as is. Yes this article shows its age.

The gold price is universal as most gold markets use live gold prices listed in u s. A gold buyer may buy your broken or old jewelry gold teeth or scrap gold and sell it to a smelter who melts down the gold extracting out the pure gold metal from the impurities and alloys. The gold gram price and gold kilo price can be found in our handy conversion table. Companies that buy your bullion or jewelry pay for advertising overhead melting jewelry etc.

A jeweler pawn broker gold refiner or scrap gold dealer will buy the stuff in the back of your jewelry box at a price based on the weight of its gold content minus a handling fee. To get the pennyweight price divide the daily gold price per troy ounce 400 by 20. A dealer wants to sell a 14k gold item weighing 3 dwt for 90. However the math remains the same regardless of the daily gold price.

Selling gold silver jewelry. 1 troy ounce equals 20 dwt. The gold price is always quoted in ounces but can easily be converted into grams or kilos depending on the quantity you want to buy or sell. The live price chart gives you a breakdown per gram dwt pennyweight and troy ounce.

Gold prices usually are quoted per troy ounce which is equal to 31 1 grams so you can easily divide the current gold price by 31 1 to get the price per gram. Thus 400 20 20 per dwt. If you have a 14k gold piece it s 58 5 pure so at most you would get 58 5 of the price for gold on that day. The price that a gold buyer will give you for your jewelry is based on the price of gold for that day.

A gold buyer can buy your gold coins jewelry or bullion and then sell it to another buyer either wholesale or retail buyer for a higher price. Since it is not pure gold or silver its value is more subjective. And they have to make a profit so they buy below spot. However keep in mind that that price is based on 24 karat gold which is 100 pure.

What is the right amount to receive for your gold. If you plan to sell gold to a gold dealer that is primarily interested in its value as a precious metal make sure that any jewelry or other gold items you re selling aren t worth more than the gold they contain.