Gold, Silver, Jewelry, Oh my!–How will I sell it?


Are you trying to figure out how to sell that silver trinket Grandma bought you for your eighth birthday? Or maybe you’re trying to get rid of those gold medallions you got for Christmas years ago. Either way, selling gold–or any jewelry for that matter, can be difficult to do if you are not familiar with the practice. There are a few things you should consider when you want to sell jewelry for cash

First, consider where it may have been purchased and its owner. If you purchased the jewelry or are the sole owner, it may be easier to sell to any dealer. Of course, not all dealers will buy your jewels, but this opens the gateway for freedom of selling on your part. Second, consider your costs. Ask yourself if that little trinket is worth the hassle of being sold by itself, or whether you should sell it with other pieces to increase value. Remember, some dealers may offer to melt your jewelry, gold, down into bars in order to increase the weight for more cash.

If you’ve purchased jewelry from a specific dealer, you would be most successful in selling it back to the same dealer. Be careful though, dealers operate through the art of ‘the spread’. The spread, is a way that dealers consider their own costs. For example, a dealer will buy back your jewelry for less than you actually paid for it, in order to make a profit. Crafty, right?

Consider what you are selling for top value. Are your jewels rare? A good practice is to do a little research on the original cost of the items beforehand. They may have depreciated over time. 

In today’s market, you could also choose to sell online. There are many platforms that offer this option and to be honest, if you are a person who is on the go or are looking to sell your jewels quickly, this may be a viable option for you. When searching for an online selling site, just be sure you are aware of the value of your jewelry ahead of time and be prepared to ship your product to the buyer once the sell is made. Most online platforms make it pretty simple for you to do things like, make and print shipping labels. Although setting up your account on any given site may be free, check the websites terms and conditions as they may charge a small percentage of your profits for using their site, to sell. 

When you sell jewelry for cash there’s a lot to consider, after all, a little cash can go a long way, not to mention it can be a blast once you get the hang of things!