Selling Gold Jewelry?

Question

Hello, my mom is looking to sell some 14 KT gold jewelry for money. A few bullion gold buyers wouldn't buy from individuals but the website USGOLDBUYERS.COM would. Is this website legitimate? Does anyone have any better gold buying websites (that will accept 14 KT jewelry)? What about verification and insurance, I work at a lab so was able to get the exact weight (to the 10th of a millgram) with an analytical balance. How does one know that they will get the same weight agree to the purity (14 Kt)? Once you send it in is there proof of submission and do you have the option to turn down their offer and get your jewelry back?

Answer 1

There are a few websites out there for gold buyers, those willing to ship you a free kit where you send off your gold and jewelry.  If the company is  legitimate, you have the option of sending back the check and getting your gold back.  Read this tutorial on how to do it

http://www.goldintomoney.com/how-to-sell...

Answer 2

One thing you do know is that the will give you a c**p price and it will be difficult/costly to get back. Go to a manufacturing jeweller at least, if he doesn't buy it he should tell you where to try. Is it hallmarked? If not you will get a bit less than the true value (14/24ths) Also the scrap prices will probably lag the gold price, currently $834 an ounce.So don't be too hasty!

Answer 3

Well. spot gold price is $815.70 / troy ounce.   Divide by 31.1 grams / troy ounce, then multiply by 14/24, because of the 14K.  So the gold in your jewelry is worth $15.30 / gram.   Probably a bullion buyer will not offer you more than the spot value, and may offer you substantially less.

You can check spot prices anytime, they change often:

http://www.kitco.com/

Grandpa

Answer 4

My friend sold gold on http://www.mycashforgold.info

She did a lot of research, and she liked that site the best.  They are members of the BBB.  Good Luck!  Hope she gets what she wants for it!