Read this before you sell your gold jewelry in NYC!

In this challenging market, an increasing number of people are selling their gold jewelry for cash.

There certainly are a couple of things you should know BEFORE you sell your scrap,damaged, broken and unwanted gold chains, earrings, bracelets, watches and rings.

What’s your gold worth now?

So how do you figure out the price per gram weight on gold? It’s a little complicated. When your gold is bought, it’s subsequently sent to a refiner. The refiner has a large amount of overhead expenses, including costly equipment for environmental limitations (alloys can contain quite harmful agents), acids, job, etc. plus there are impurities also. Your 14K gold might not be just 14K gold. Unless it states “14K P” on the hallmark of your jewelry, it likely is a tad less than 14K. The “P” means Plumb, or just 14K. The refinery will normally charge a 12 to 15% fee for refining your gold or silver down.

It is possible to find the present price of gold (spot price) online. If the gold is about $ 1500 per oz. That means 14K will probably be worth: 1500 X.0168 = $ 25.20 per gram to the person that buys your gold. A good price for you to get now for 14K gold would be $17.00 per g.

What you should know:

1. If your jewelry has a gemstone(s) in it, chances are you will be giving it to the gold buyer. Virtually all of the buyers have an interest in ONE THING – the GOLD. A few of them don’t have a clue about colored gemstones. They generally know about diamonds, but very few know anything about gemstones. You will be paid per gram rate for the gemstone by some of those buyers, particularly when it’s small to medium size. It is more easy for them just to weigh the entire piece of jewelry and pay you – besides, they’re will afford to do the transaction this way, and generally making a lot of cash on it. It may not be a great deal for you yet. For example… let’s say you have a 14K gold ring using a little blue gemstone within it. That might great for you if that blue stone is quartz or topaz (less expensive colored gemstones), but what if it is Apatite, Zircon, Aquamarine, Spinel, Blue Diamond, Sapphire, Paraiba or Indicolite Tourmaline,… etc.? Any of these gemstones have become valuable, also it probably would be a great idea to get rid of the gemstone and either reset it in a setting that you sell or will wear it. The conversion from Carats to Grams (what your gold is measured in) is: 5 Carats = 1 Gram. So, let’s say you possess a 5 carat you and Paraiba Tourmaline choose to leave it within the setting. (1 gram). (This is an extraordinary case, as Paraiba Tourmaline is copper-bearing and extremely rare, but it exemplifies the purpose).

2. Let us say you want to have a gold buying bash. Each of your pals reach the party making use of their gold jewelry that they need that extra cash that their jewelry might bring and don’t wear anymore. Did you do any price comparisons? There certainly are a lot of people who put on these celebrations and make a fortune – on your jewelry. Do your homework! ASK THE IMPORTANT QUESTION – HOW MUCH WILL THEY PAY PER GRAM FOR 22K, 10K, 14K, 18K, Silver and PLATINUM jewelry. It’s much better to work with an established, local resource because of this celebration. Inquire about security. Exactly how many people will be there from the purchaser’s business?

3. As of this week, gold is at an all-time high, together with the price for 14K to be at about $ 25. per gram. That means a FAIR Gold Buyer will purchase your 14K gold jewelry for about $15. per g. That’s a good price. $9 is being paid by some of the people who are putting on gold buying celebrations in your home, or in their shops. or $10. per g – that is a ripoff! Just ask them how much they pay comparison shop, and per gram. This could save you hundreds of dollars!

4. What about Gold Gold Plated Filled and Silver Jewelry? That is valuable too… same applies – request the gold buyer what they will pay per gram, and price store – it is worth your time.

5. Do not ever – I repeat – ever send in your gold jewelry to anyone for conversion to cash. They can rip you off any number of methods, i.e., underestimate the g weight in their benefit, etc. As soon as they have your jewelry, it is out of your control.

6. Be VERY cautious of the new gold buying stores that are popping up everywhere. You’ll not fare much worse at an established store that was there for a long time. I might give them your company whether it is a jewelry store or a pawn shop. I might give their per gram price the opportunity to match the price, if they is less than their competition. These gold buying shops that pop up are generally a satellite shop of a large business far away, can badly damage your longtime trusted local businesses plus are there for a short time.

7. Recently, was a gold buying set up at a nearby Holiday Inn. I was SHOCKED at how people did not even comprehend that they were getting ripped off, and didn’t inquire what they’d be paid per g. It turned out to be $ 5.00/g. One woman had 63 grams of 14K gold (most individuals had more gold for sale). She didn’t comprehend that a good price for her broken and unwanted jewelry should have been $1,008.00.

8. The current TREND right now is Antique/Designer Jewelry. In the event you have really fine piece of Antique Jewelry, and you can’t keep it, get it appraised by a reputable Jeweler – but don’t tell them that you wish to sell it (they may quote you a very low appraisal and attempt to buy it themselves). You may want to test eBay. It’s going to be better than the scrap prices offered, although you may only get wholesale pricing on the jewelry.

9. Remember – the buying and selling of jewelry might be a lot just like the automobile company. They talk “deals”, and a number of them apply the same selling strategies. In the event you want to buy some new jewelry, treat your unwanted jewelry like a used car tradein. Get the appraisal on the jewelry first, including the gram weight, then negotiate on the new purchase.

In overview:

— constantly ask exactly what the buyer is prepared to cover 10K per g, 14K, 18K, 22K, Silver and Platinum

— never send your gold for cash

— try to work with a local merchant (Pawn Broker or Jewelry Store). Give them the opportunity to match the price from the popup gold buyer, when they offer less per g

— just utilize a reputable source that is LOCAL if you intend to possess a gold buying celebration; be security conscious and shop for the very best price per g

— discover what the gemstones have been in the unwanted jewelry before selling it… if they’re worth anything, remove them

Contact metropolitan buyers if you have any questions regarding gold and jewelry.

47 W 47th St #2c
(646) 820-3052