Many people have heard that selling their unwanted gold jewelry can be a great way to bring in some extra cash. However, it can be difficult to know what the best ways to sell gold are, especially for people who do not regularly interact with the jewelry industry. Here are three tips on how to go about selling your unused gold pieces.

1. Research The Value Of Your Gold Pieces

Make a rough estimate of how much your gold is worth. You can do this by checking the purity and weight of your pieces. Purity can be determined either by looking for an inscription on the jewelry or by having a jeweler perform a scratch test. Weight can be found by using a regular kitchen scale. When you have both purity and weight, you can find the value of your gold by using an online calculator.

2. Have Realistic Expectations

Some people may expect to sell their jewelry for an amount similar to what they paid for it. However, this is often not the case. The price you receive will be a reflection of both the current market value of gold, as well as its melt value. Often sellers will only receive 70%-80% of the melt value because the selling price needs to account for the buyer's profit and the costs involved in turning your gold into bullion or new jewelry.

3. Look For A Reputable Buyer

It can be tempting to simply use the first gold buyer you encounter. However, many people have reported that they were victimized by unscrupulous buyers who underpaid for gold, or did not pay at all. To avoid such situations, it is important to only do business with reputable gold buyers. Some characteristics of a good gold buying company are:

• Membership with the Better Business Bureau
• Employment of experienced jewelers and GIA gemologists
• Establishment in the jewelry business for many years
• Extensive experience in buying gold

When it comes down to it, one of the best ways to sell gold is simply to do a little research and to find a good buyer. While this may take a little time and effort, it will be worth it for you to receive a fair price for your gold jewelry. Ralph Mueller & Associates in Scottsdale will provide a fair and honest assessment of the value of your used gold pieces and offer you the best prices in Arizona. Call (480) 949-9299 today to learn more.