Where Is the Best Place to Sell Your Gold?

Gold prices are currently at their highest levels. If you have old gold jewelry lying around, selling some pieces can be a great way to get instant cash while profiting from the price of gold\\\’s current high. Many different places will buy gold from individual sellers, but, like the jewelry itself, not all of them are created equal.

The best way to sell your gold is through a reputable buyer. You\\\’ll get a better price than selling through your local pawn shop or an unknown online retailer. We strive to help our customers with their jewelry buying and selling decisions at Sherman Diamonds. To help you with this process, we will cover several questions you might have as you look for the best place to sell your gold.

Our gold selling guide explains how the gold price works, how much your gold is worth, the best way to sell it for the highest price, and the basic process for selling it. We\\\’ve also detailed common mistakes to avoid when selling gold and the pros and cons of selling gold online versus locally through a pawn shop, jewelry store, or boutique. Finally, we\\\’ve provided expert advice to help you get the best price for your old gold jewelry. So continue if you\\\’re looking for answers – we\\\’re always here to help!

What is 1oz gold worth?

This is a question with an answer that changes daily. Generally, gold prices are at an all-time high, but gold is traded like a commodity, like stocks, grains, and gasoline. Therefore, its price per ounce changes daily (and sometimes throughout the day)! We can give you a few general guidelines when you\\\’re ready to sell gold and then some places to look up the daily price per ounce to evaluate any offers you\\\’re receiving.

Gold is priced by weight, with prices associated with one gram, one ounce, and one kilogram of pure gold. Unless otherwise stated, gold price refers to 24K gold, or \\\”pure\\\” gold, which is 99.99% pure. Solid 24-karat gold is quite soft and malleable, which makes it ideal for creating coins and gold bars. Because of its softness and vibrant color, 24K gold is not commonly used for jewelry in the West. You might notice that your gold jewelry is marked 10K, 14K, or 18K. These karats are widely used for rings, earrings, bracelets, watches, and other jewelry. Your gold buyer will use a combination of your piece\\\’s weight, karatage, and markings to determine its price, along with the daily price for one ounce of gold.

Is gold easy to sell?

Because gold is a non-renewable resource whose value keeps increasing, it is incredibly easy to sell to any buyers of fine jewelry and gems! What might be more of a challenge for you is figuring out the best time and place to sell your gold.

If you have substantial gold and want to sell at the best possible time, you can use gold analysis and forecasts to stay on top of the market trends. These predictions are not always perfect but can show you trends for buying and selling. A golden rule is to sell when the metal is at its highest value.

What type of gold is easiest to sell?

If you have broken gold jewelry for sale, such as a gold necklace or a damaged wedding ring, you can often take them to places where you would sell other gold items. Most pawn shops will buy broken gold coins. Broken gold objects are often valued at their scrap gold value – the value of pure 24-karat gold left after the melted down. When you\\\’re ready to sell gold, you can ask our experts here at Sherman Diamonds.

What percentage will a pawnshop give you?

Many pawn shops buy gold jewelry, coins, and bullion, and selling locally to a pawn shop is an easy way to quickly sell your gold for cash. However, you will almost always get a lower price than if you sell to a reputable gold buyer or jeweler.

Pawnshops often offer significantly lower jewelry prices, usually about 10% less than at your local jewelry seller. To get a good return on investment from buying gold, the pawnbroker will need to buy it at a low enough price that they can resell it at a reasonable profit. There are also a number of other downsides to selling at a pawnshop, from the fact that employees may need to learn more about gold to the sometimes-stressful sales process.

You usually get paid immediately when you sell gold jewelry, coins, or other gold items to a precious metal and coin buyer. This can be a huge advantage if you need money quickly. If you don\\\’t like haggling or are worried about being taken advantage of, selling at a pawn shop might intimidate you.

Is it a good time to sell gold in 2023?

Ask this question to any jeweler, and they\\\’ll probably exclaim, \\\”Yes!\\\” Gold has been sold for a good price over the past few decades, and there doesn\\\’t seem to be any reason to change that. Continue using the tips in this article when you are ready to sell your gold jewelry or coins.

Your experts on where to sell your gold

There are numerous factors to consider when looking to sell your gold. Houston jewelry expert, Sherman Diamonds, hopes these tips will help you find the timepiece of your dreams at the best possible price. Stop into the store to see our selection, or contact us with any other questions at 281-609-6440. We\\\’re always here to help you make the best decision for you.