Update: Since this review, we took a look at GoldCashOut.com; they are offering the best payout for gold right now.  Just give them your address and they’ll send you a free risk-free gold appraisal kit.

Before selling your gold jewelry online, profile the companies that you may be considering. Some online gold buyers may require a processing and/or shipping fee. Sometimes this will depend on the weight of the gold. These fees are typically withheld from the payment issued. The seller should beware of any online gold buyer that requests any type of monies be sent upfront.

Know what type of gold jewelry that the gold buyer will appraise and accept. Many will take broken pieces; however, some may not take jewelry with stones. Those who will take these will remove stones before weighing the gold. Typically, those who will pay for jewels or stones will pay considerably less for them than what they will the gold itself. Keep in mind that you may not be limited to just gold. Several of these companies will also pay cash for silver.

Finding an online gold buyer over the internet is simple, you don’t even have to leave your home. They pay top dollar and the money is received in a minimal amount of time. It’s the hassle-free way to sell your gold!

Appraise your Gold right now!  Click here for our free Online Gold Appraisal!

You have to evaluate your gold jewelry before you take it to a jeweler, pawn broker or online gold buyer (best deal!). These three things will guarantee your success in gold appraisal. You want the most value for your gold jewelry and here’s how you do it:

Karat Marking
Karat is a measure of purity for your gold jewelry. Inspect your gold jewelry by looking for a karat mark. Karat marks come in different levels: 24K means pure gold, 18K is 75% gold, 14K is 58% and 10K is 42% gold. A karat stamp is usually located on the clasp of necklaces and bracelets. The mark is often on the inside band of rings. If you want to appraise earrings, look for the karat mark on the fastener.

Your Gold Jewelry’s Condition
Whether it’s old or new gold jewelry, you can sell it. Gold jewelry in great condition has more value.

Weight of your Gold
The price of your gold jewelry will depend on its weight. The more it weighs, the more cash you’ll get for it. Got any old Mr. T chains? Ka-ching!

Selling gold jewelry is a lucrative business, and you want the most value from your gold jewelry. Self appraisal really helps. Turn your pot of gold into instant cash!

Look on your jewelry piece for the karat marking. All real gold is marked with a purity percentage ranging from 10k to 24k — 24k being the purist. The karat marking is the percentage of pure gold alloyed with other metals, such as copper or silver. Anything under 10k is not enough to be considered gold.

There are many websites that can give you an online gold appraisal for your gold jewelry. You will be prompted to enter some information, such as whether it is a ring, necklace, bracelet or earrings, the karat purity marking and the weight in grams. Submit this information online and you will then be given the estimate of your gold’s worth.

If you are going to sell your gold pieces at a jewelry store, be sure of the reputation of the business first. Check with the Better Business Bureau or ask a friend who has dealt with the jeweler in the past.  You are probably better off using Gold Cash Out, as they are offering higher gold payout rates.

Whether you wish to sell your gold jewelry online or at a place of business in your town, and have done your homework by following these tips for selling gold jewelry, you already have an idea of your gold’s value. If an offer has been made that you are less than pleased with, you don’t have to settle. Either take your jewelry to another business or hold on to it a little longer.  Better yet, try Gold Cash Out — if you don’t like the offer they make, they will send the gold back to you free of charge.

There are three things to consider when inspecting jewelry:

Karat Stamp – Check your jewelry’s gold content by looking for a karat mark. A 24K mark indicates pure gold; 18K is 75% gold, 14K is 58%, and 10K is just shy of 42% pure gold. Look for this stamp on the clasp of bracelets and necklaces. The karat mark is found on the inside band of rings, and for earrings on the fastener.

(NOTE: There is a difference between carat and karat.  A carat is a unit of weight for gems, and karat is a measure of purity for gold.)

Gold Weight – Any dealers who buy your gold jewelry will base their price on the weight of the gold content plus a handling fee. The less gold in the piece, the less it will bring as recycled jewelry. Twenty pennyweights, the basis for purchases, is equal to 1 troy ounce of gold.

Condition of Your Old Gold Jewelry – Scrap gold dealers and online gold buyers (offering cash for gold if you want to sell gold) will purchase gold jewelry in any condition. A broken earring or gold chain would probably be best sold for scrap. The same is true for outdated styles with no current store appeal. Pieces in good condition could have more value if sold as “estate” or “vintage” jewelry. If this is the case, a gold appraisal would be in order. Professional gold and jewelry appraisers will charge anywhere from $50 to $200 per hour.