With prices continuing to rise, there’s really no better time for selling gold than right now. Whether you have some old mismatched jewelry that you want to get rid of or you’ve got some old gold coins you’ve been thinking about cashing in, now is a great time to do it.
However, before you decide to cash in your gold items at your local buy sell gold business, there are a few things you need to know and keep in mind.
If your gold jewelry is real, it will most likely have a “k” mark on it somewhere preceded by a number (like 10k or 14k), which stands for karat and will often be followed by the creator’s trademark or initials. The “k” mark is required by law, so if your jewelry does not possess it, chances are it isn’t real and you’ll waste your time trying to sell it.
If the items you want to sell have a marking of “1/10 GF on them, they’re gold-filled and not solid, which in similar terms means you won’t be able to cash them in. The same goes for anything that is plated or considered a gold-leaf piece.
And if you just want to sell gold that has attached pieces such as gemstones, don’t. Remove the gemstones first because those businesses are not paying for your gems and you might as well sell them for some extra money.
And if you’re attached to a piece of jewelry and think you’ll see it again later, you won’t. Most businesses will melt down your items, so if you have jewelry that’s of sentimental value, just put it away and treasure it for the years to come.
If it’s anything else, then you should have no problem with selling gold items as long as they are 8, 10, 14 or 18 karat. Most places will accept jewelry, coins, bars and just about anything of value – even dental pieces!
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