sell goldMost people have jewelry boxes full of old gold they no longer wear which could be making them hard, cold cash through an online gold jewelry broker.  The entire process to sell gold is fairly simple and does not vary that much from gold jewelry dealer to gold jewelry marketer.

Gold prices are trading at a record all-time high with 10 k gold paying out at $394.07 payout on one to three ounces and 24 k gold paying out at $1018.71 for between 25 and 50 ounces.  Of course these prices fluctuate on a daily basis depending on the gold market’s price of the day. There are websites devoted to gold prices or one could contact their bank for more information on the daily gold prices. 

Typically, a gold jewelry dealer sends an individual a secure mailing envelope in which that individual mails their gold jewelry to the gold processing plant where they weigh it and in turn send out a check for anywhere between 15 to 70 percent of what the day’s gold prices are.  Most places are at the low range of the scale and allow consumers to exchange their check for the return of their gold if they are not satisfied with their check amount.

Another way an individual could make money selling gold jewelry is by taking it to their local pawn shop.  Pawn shops will either purchase an individual’s gold jewelry outright or make a loan on the gold pieces. If an individual wishes to make a loan on their valuable gold, they leave the gold with the pawn broker and take the cash for a predetermined amount of time, usually 30 days.  At the end of the time, the individual returns with the cash – plus interest – and retrieves their valuables.

With a pawn shop, there are no credit checks needed. The pawn shop does take down an individual’s name, address and current telephone number and takes a copy of their photo id to make sure the items are not stolen.  In some states, pawn shops are required by law to report every item collected each day to their local police station in order to help police catch thieves, although the chances of stolen items turning up in a pawn shop are extremely rare these days.