Selling gold for cash should be easy and hassle free, however for first time sellers the process can be daunting, this guide will walk you through the necessary steps needed to sell gold safely and for the most cash possible.  So please, take your time and read the entire page.

On average we receive 10 to 20 calls/emails per day from people just like you with questions about selling gold and gold jewelry for cash. So as a service to anyone looking to sell gold and jewelry we have created this page.  If you still have questions after reading this page please don’t hesitate to call or email us.

Is it scrap gold or gold jewelry…Your lesson begins here.

Today, with a very soft jewelry market, practically all gold jewelry is considered gold scrap.  Name brand jewelry, like Rolex and Tiffany, will never be considered gold scrap.  However, it is not uncommon today, with more and more jewelers going out of business everyday, that brand new jewelry is being removed from showcases and sold as scrap gold.  The only exceptions are exquisite vintage jewelry, jewelry that contains large and valuable stones, and high-end, name brand jewelry (like Rolex and Tiffany). 

What Other Selling Options Do I have?

• Pawnshops may be a good option for those seeking a loan against their gold for the purpose of reclaiming the items at the end of the loan terms, usually a good options for people in need of fast cash and have gold and jewelry that has sentimental value.  Don’t expect to get more then 25-35% of the value of the items , pawnshops must protect themselves in case you decide not to pickup your valuables, additionally there are hefty interest charges and safe fees on a monthly basis.

•  Local Jewelers  can buy for resale or as a cash for gold service, either way they will always want to buy gold jewelry for less then wholesale or they will buy as scrap in the role of the middleman and then turn it over to a refiner, therefore Attempting to sell your jewelry to a jeweler is one of the worst alternatives out there (most of the time a jeweler can make an exact copy of your item, why should they buy a used piece from you?)

•  EBay is one way to perhaps get a higher return on gold jewelry that still has a modern feel and in good condition, since you are potentially selling to a willing buyer for personal use you may be able to get a higher percentage then a jewelry would normally pay - however EBay is highly competitive with jewelry and is not a fast or confidential approach to selling gold.

•  Craigslist and other directories also may yield a higher return when selling to private individuals, these methods however are filled with scams, require more work and are not confidential.

•  Gold & Jewelry Buyers such as Global Gold & Silver provide customers a fast, secure and confidential approach to selling unwanted gold jewelry with no fees or scams to fear.

How much should I expect  when selling gold

When you sell gold the buyer will take the following into account;

1. The days gold value, know as the London PM Gold Fix. This is the value that gold will trade at for the day.
2. The purity of the gold, 10kt is 41% percent pure, 14kt is 58% pure, 18kt is 75% pure, 22kt is 91% pure and finally 24kt is 100% pure.  For example if gold is trading at $1000 per day and your selling 14kt gold then its value is $580 less the refiner cost to melt, refine and any profit they look to make.
3. Most legitimate gold & jewelry buyers will pay between 65-85% of gold value, This is fair due to daily fluctuations of gold's value and so refiners must protect themselves and buy gold at a discount in order to turn a profit. Beware of false offers promising 90% or better - the cost and daily gold fluctuations make this impossible.
4. Reputable gold buyers will always publish what they pay for gold and update it daily. At Global Gold & Silver transparency is what builds trust between us and the consumer, beware of buyers that do not publish their prices.

Is Shipping Safe?

 Many online gold buyers claim high insurance to protect your valuables but is it safe? Make sure you only ship via FedEx Insured! Why would you want to take the chance of putting your valuables in a post office box, where it’s not insured?  That’s why we encourage you to use Global Gold & Silver, because your valuables are insured for $1000 and shipped via FedEx, not the U.S. Post Office.  People who ship via a U.S. Postal Service drop box have no proof it’s been mailed or has arrived.  Why take a chance?

How should I choose a reputable Gold & Jewelry buyer?

1. Do your home work before selling gold, a good starting point is to check member affiliations such as the ones listed below, their logos should be prominently displayed on the website and should act as a live link directly to the directory listing not the home page.
   For example a JVC logo will link you directly to that companies profile on JVC's website not the home page!
   
   
   • Trust-E: Internet watchdogs that protect consumer privacy.
   • JVC: the Jewelers Vigilance Committee is the ethics guardian of the jewelry trade.
   
   
2. Google the company name with the word "reviews" and search for positive or negative reviews instead of relying on reviews only on the company's direct website.
   
3. Is the company  a Corporation? Are they regulated by a governmental agency? Every reputable gold& jewelry buyer is required to be licensed. You may view our Department of Consumer Affairs license by clicking HERE.
   
4. Beware of companies promising high payouts of 85% or more. After advertising, refining and other business cost its not feasible to expect such a high payout - How does the company afford to cover all expenses and still profit? especially if you consider how the value of gold changes daily.
   
5. Can they accommodate consumers both online and in person? Legitimate buyers require a physical address for processing.
   
6. Look for a company that displays current and daily updates of their buy prices.
   
7. Will they just mail you a check or do you have a chance to decline the offer.

These are some very important questions you need answered before you choose a reputable gold buyer.

Selling to Global Gold & Silver

At Global Gold & Silver we hope to earn your trust and confidence when selling gold & jewelry that’s why we have taken every step possible to earn that trust. Global Gold & Silver is an active member with TrustE and JVC. We proudly publish our gold buying prices with daily updates Additionally we  are one of the few gold buyers that provide live video view online of your gold kit! Watch and see as if you are right next to us when we open your gold kit, sort, weigh and value the gold for your acceptance or the items are returned right back to you - another exclusive benefit.

Again, if you have any questions about selling your gold, please don’t hesitate to call or email Global Gold & Silver

Global Gold & Silver, Inc. - Licensed buyers & Sellers of precious metals and fine jewelry.

Tel: 212-575-2975  -  email: info@JewelryScrappers.com  -  30 West 47th Street, Suite 406. New York NY, 10036