Different ways to make quick cash selling on gold jewelery

There are many ways how you can turn these assets into cash that will be more useful for you. Some people prefer selling their items rather than having them repaired since repairing it might cost the owner more. In this have lists down the items that you would need to take note of if you are considering selling your gold pieces for cash.

• Gathering your scrap materials. One thing you need to do first is to gather all the items that you are intending to sell. Contemplate well if you really and are ready to let go of these items. There might be heirloom pieces along with the pile that you might want to keep or hold on to. Check the items if they are indeed worthy of selling for a cheap price and hold on to pieces that would only need minor repair. You can use the money you earn from selling the other pieces into repairing the more valuable ones. Those with rocks or diamonds should not be sold as a scrap gold material since the buyer may not be interested in it at all and hence you are not maximizing the cash potential of your stash. The ones with rocks should be used for other jewelry pieces that you want to repair or rework.
• Estimating the worth of your scrap by its weight. As a general rule, gold is weighed and then assigned a value. For example, you need to start converting the weight into troy ounces. The formula of which can be seen below:
• Every gram of 24k gold should be divided by 31.103
• Every gram of 22k gold should be divided by 33.931
• Every gram of 20k gold should be divided by 37.324
• Every gram of 18k gold should be divided by 41.471
• Every gram of 14k gold should be divided by 53.319
• Every gram of 10k gold should be divided by 74.647
• Get your regular kitchen weighing scale and see how your stash measures so that you have a fair estimate of how much in troy ounces your gold materials should be assessed for. Note that these values are not valid for the gold plated items since essentially gold plated ones are just metal coated with gold.
• Getting the current price per ounce of gold. The next thing you need to do is to check the internet for the latest price in gold. This normally changes on a daily basis so be sure to check online, such as this web resource – Gold Price. Multiply the value you get here plus the troy ounce value you got earlier.

Before settling for a particular buyer, canvass first for the best rates. When the buyer senses that you are not that desperate to get cash then he wouldn’t try to haggle the price down too much. Remember that they, too, need your item so it is best to bargain well. Clean your pieces well with some baking soda solution so that you are presenting your items in good condition.  Remember that the amount you will get will not be exactly the same as your estimate but it should be fairly close to it. Visit the jewelry stores, too, since they might see some promise in your items.