If you are looking to make easy money in a short period of time, consider selling gold jewelry to a jeweler who pays cash for gold. You can often find great jewelry for sale at thrift stores and yard sales for very discounted prices. The following guide walks you through the things to know when buying gold jewelry you plan to sell to a jeweler.
Make Sure the Jewelry is Real Gold
Before buying gold at a yard sale or thrift store, look closely at it to make sure that it is real gold. Real gold will have a karat weight stamp on it somewhere. The stamp will have a number followed by a capital "K". If the jewelry does not have this stamp on it, do not buy it because it could be fake. Bring a magnet with you when buying the jewelry. Pass the magnet over any piece of jewelry that you think may be real. If the jewelry is not attracted to the magnet, the chances of it being real are quite high because fake gold is usually made with metal that would be attracted to the magnet.
The Jewelry Doesn't Have to be in Great Condition
When you are looking at the jewelry, do not worry if it is broken or dirty. When you sell the jewelry, the jeweler will more than likely be looking to melt the gold down to use it for something else. The condition of the jewelry is not important because it will not be used in its current condition.
The Jewelry Can Have Gemstones in It
When searching for the jewelry, do not shy away from jewelry that has gemstones in them. Gemstones are often very valuable and the jewelry may offer you more money to buy the gemstones, as well. Purchase a jeweler's loupe to inspect the stones closely. The loupe is a small magnifying glass that allows you to look deep into the stones. Look for slight lines inside of the stones that make it look as though it has different color gradations in it. These lines are referred to as inclusions and are often missing from imitation gemstones.
When you take the jewelry to the jeweler, he or she will inspect it to make sure that it is real gold and then weigh it. The jeweler will then give you money for the jewelry based off of the going rate for gold on that particular day. The rate for gold changes from day to day, based on the fluctuations on the value of the dollar. When the dollar is viewed as being less valuable, the rate for gold will decrease.
Visit stores like Sol's Jewelry and Pawn for more information about selling the gold that you find.
