Shopping for an Engagement Ring

3 Tips For Making The Most Money When Selling Your Gold

If you are in need of some quick cash, one way to acquire the money you need would be to contact local gold buyers about purchasing old jewelry that you no longer use. But if you want to maximize the amount of money you'll actually be offered, you should be smart about how you present your gold to the potential buyer. Here are three tips to get you started.

1. Separate Karat Values

Not all gold is created equal. A gold piece with a higher karat value is going to be worth more money than another piece that might weigh the same but has fewer karats. If all of your gold is mixed together, you run the risk of the gold buyer making the offer based on the lowest karat item in the pile. If you know that you own some nice pieces with high karat value, make sure you separate each piece so you can maximize your income.

2. Do Some Research Before You Head to a Shop

There are plenty of resources online where you can check the current price of gold before you head off to meet with a potential gold buyer. is a leading website in this space that provides the latest information on gold values and the rest of the financial markets. Make sure that the gold buyer you are dealing with is valuing your gold at a reasonable rate in line with the current market value.

3. Consider an Appraisal

If you know that you own a piece of jewelry or gold that is of very high value, you should have it professionally appraised to certify and confirm its worth. Yes, the appraisal itself will cost you money which may seem like the exact opposite of what you are trying to do, but you are likely to get a much better offer on it from a professional gold buyer once they see the appraisal. In other words, you'll hopefully make your money back and then some. 

If you are in need of some quick cash, one possible solution would be to raid your jewelry cabinet for pieces that you no longer wear. Seek out a reputable gold buyer in your area and present the gold to them, being careful to separate by karat value. Educate yourself on the current value of gold and get your more expensive pieces appraised if needed and you'll be on your way to obtaining some much-needed cash for your bank account.