How to sell your gold jewelry

If you are thinking of selling your gold jewelry you have lots of choices. There is a huge difference in what different buyers pay. Be a smart seller.

First your need to know a few terms.
Karat is the purity of the gold. 24 karat is pure gold. So 14 karat is 58.33% pure.
Gram is a familiar metric weight that is often used to price gold jewelry.
Troy ounce is 31.08 grams and is used for pricing gold bullion (bars and coins).
Penny weight is 1/20 of a troy ounce.

Comparing the price that different buyers pay can be difficult.
Many buyers won't tell you what they pay. They say they have to see the item. If they are keeping the price they pay secret do you think they are paying a good price??

How are prices quoted? Because many pieces of jewelry are very light the price is usually quoted in dollars per gram and karat. For example a jewelry store might quote $12 per gram for 14 karat gold. There will be a different price for 10 and 18 karat proportional to the 14 karat price.

Some buyers will quote penny weights. This is usually done to confuse the seller. The penny weight price will sound like more. For example $16 per penny weight for fourteen karat sounds like more than$12 per gram for 14 karat but it is actually quite a bit less. Actually $18.64 per penny weight for 14 karat is the same as $12 per gram for 14 karat. Be very careful of buyers quoting in penny weights.

Buyers should be very open about testing and weighing your jewelry. You should be able to watch the process and ask questions. This is of course a problem for the mail buyers. Mailing is a risky business. Would you send money in the mail? When you mail you lose control of the transaction. One person we talked to didn't like the amount she was sent and canceled the transaction. Then she didn't get everything back.

Once you understand the numbers shop by phone.

If you follow these simple steps you will be able to max your gold!

P.S. Max Your Gold is currently paying $16.50 per gram for 14 karat gold