Is your Jewellery worth its weight in gold?

The price of Gold per gram is climbing again albeit after a major downturn last spring. The price of gold inclines to rise when the economy is behaving badly so arguably you can sell scrap gold with confidence at present. Over the last three years, gold prices ovrerall have dramatically increased though as mentioned and although the price has receded since reaching record highs in 2011 and 2012, gold still sparkles for any potential buyer or seller.

Various types of Gold can be sold from inexpensive gold trinkets, solid gold coins, fine jewellery, solid gold coins, old and broken gold to wait for it…even dental gold and unless you are lucky to have antique value for your items, essentially the price of gold remains the same whatever the condition of the piece.

                                   

 

Selling your unwanted jewellery

Gold has been recycled since ancient times. It has been reused over and over again for thousands of years and subsequently jewellers, pawn brokers, gold refiners or scrap gold dealers will purchase any gold kept under the bed or in family jewel box long forgotten at a price based on the weight of its gold content, commonly minus a small handling fee. The items are then melted down and the gold removed where it is then sold on or is utilised by the buyer.

The amount of gold content in jewellery is indicated in carats. Solid gold jewellery is 24 carat and is 99.9% gold. Lower carats of jewellery have less pure gold content containing more alloy metals and hardening agents as for example within 9 carat which has a content of 37.5% gold and so on.

Normally, the gold content or gold percentage of any piece of jewellery will be indicated on it somewhere especially UK gold (or imported gold) where it has been assay tested to British hallmark standards but not necessarily with foreign gold. Any respectable jeweller or gold buyer will be able to test and communicate the true value and carat. A lesser amount of gold content in a piece of jewellery, the less money it will be worth funny enough and  to anyone who intends to melt it down. When you purchase jewellery in the store, you are paying for the design and craftsmanship, as well as any precious and semi-precious stones that may be a part of the item not forgetting the covering of any overheads!. A gorgeously designed piece of jewellery may have more resale value than it will have as scrap gold. If you think that might be the case, obtain an appraisal or approximation of value and perhaps attempt to have a go selling on an on-line auction site.

Lastly but by no means least Heavy gold chains and ID bracelets that were popular among some men in the 1970s are perfect candidates for meltdown. Arguably they have no resale value as jewellery because they are to date perhaps perceived as not in fashion, but the best of them had substantial gold content. (No offence intended to customers who still wear them!!) As a scrap gold buyer we welcome any items that are unwanted even ID bracelets!

Top Dog Customers are often stunned how much these pieces of “old jewellery” are worth! Food for thought I say!

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