Cash for Gold: 8 Places That Pay for Your Jewelry Online
Updated on: by Olivia
If you have jewelry you want to get rid of, you can always try to sell it to a friend or family member or take it to the local jeweler or pawn shop.
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But you can also sell it online and potentially get more money out of your jewelry.
However, selling gold jewelry isn’t something that’s super easy to do.
You need to understand how gold gets priced and how it’s valued to get the best prices for your jewelry.
It also helps to know how to avoid scams because they, unfortunately, are pretty common in this industry.
So, if you’re looking for a way to sell your gold (and in some cases, silver) jewelry online, then read this guide to learn some information that could help.
How to Sell Gold or Silver
Selling gold can be tricky, even for those who are well-versed in gold pricing, exchange rates, etc.
It’s important to know that you can sell much more than just gold jewelry when you choose an online seller (depending on the seller, of course).
But each gold item is priced and valued differently, which makes everything a bit more complicated.
In addition to gold jewelry, you may also be able to sell:
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- Silver jewelry
- Silver or gold coins
- Gold tooth fillings
- Gold or silver knick-knacks and collectibles
- Gold bars
- Silver serving dishes and utensils
- Silver or gold watches
- Diamonds from jewelry
Selling in Person Versus Online
There are several differences between selling your jewelry online versus selling it locally with a buyer or business near you.
Selling locally can be a quicker process because you could meet up with someone the same day that you list your jewelry for sale.
For example, you might search Google for “selling silver jewelry near me” or “places that buy gold jewelry near me” and come up with a few pawn shops, consignment stores, or jewelers that will give you cash for your stuff.
You could potentially be in and out with your cash in about an hour.
Selling online, on the other hand, could take a few weeks from start to finish because you’ll need to get and accept a quote, send in your jewelry, wait for an inspection, and then wait to get paid.
However, online sales with a trusted company could end up working in your favor.
When you use a trustworthy site for your sales, you work with experts who make sure you’re getting a fair price for your jewelry or items.
It can also be a good option if you don’t have any places in your area to sell your gold items to, or you’re not comfortable heading to a pawn shop to see what they offer you.
If you do use an online site, you’ll want to check out online reviews of that site first to see what other people say about them.
You can Google reviews, use sites like Trustpilot, or check with the Better Business Bureau to see if the majority of comments are positive or negative.
This is the trickiest part of selling your gold jewelry.
Gold doesn’t have straightforward pricing.
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It’s something whose price can fluctuate daily, which makes it difficult to judge from one day to the next how much your jewelry might be worth.
It’s good to at least have a basic understanding of valuing gold jewelry before you sell to make sure you’re getting what your pieces are worth instead of getting short-changed.
How Much is Gold Worth?
You can find live gold prices on APMEX, including current and historical pricing data.
This can help you gauge how prices fluctuate daily, but they won’t really mean much to you if you don’t understand gold pricing.
A lot of things can influence gold prices, such as investors in the gold market and the demand from jewelers for gold.
You can expect, usually, that when the economy gets a boost, gold will also. When the economy declines, you might see gold prices drop.
It’s not always the case, but it’s a good rule of thumb.
Value Your Jewelry
Now, jewelry gets valued differently than gold, but since your gold jewelry contains gold, the two work together.
However, with jewelry, you’ll also need to consider things like brand, diamonds, other stones, and the type of jewelry.
Of course, the type of metal (gold, silver, platinum, etc.) makes a difference, too.
Some jewelry pieces are worth much more than others.
So, how can you determine its value?
The best thing you can do is talk to an expert jewelry appraiser.
These people deal with jewelry every day and know how to determine its worth with accuracy.
You can look through the National Association of Jewelry Appraisers to find one in your area, but take note that there will likely be a fee involved.
Understand Melt Value
You also need to consider melt value, which is the amount of metal contained in your jewelry.
Gold jewelry, for example, usually has some other metals mixed in, so it’s not 100% pure gold.
Manufacturers add other metals for strength.
The melt value, then, would be the amount of the jewelry that’s pure gold.
The higher that number, generally, the more your jewelry is worth.
You can use this melt value calculator to help you out.
Once you’ve figured out an appraised value for your jewelry or other gold or silver items, you should shop around to find the best prices.
Never stick with the first place you found, even if it’s paying close to what your jewelry is appraised to be worth.
You may find another buyer that’s willing to pay more, so it’s always a good idea to compare at least four or five different quotes.
Remember that you may not get as much as the appraised value because jewelry buyers generally want to resell the jewelry, so they need to make a profit, too.
The goal is to get as close as possible to a price you’re comfortable with.
With most online buying sites like I list below, you can get a free online quote to at least give you an idea of pricing.
Avoid telling your potential buyers what the jewelry appraised for.
You’re better off hearing their quotes first and negotiating from there based on the appraisal.
What’s the Best Place to Sell Old Gold Jewelry and Other Gold or Silver Items?
Although there are several legitimate online jewelry buyers, I’ve found that Cash for Gold USA is one of the most reputable and respected.
When you fill out the form for a quote and accept that quote in the same day, you can even earn a $50 bonus!
This site offers a super fast process that can help you get paid for your items within 24 hours by PayPal, check, or a wire transfer.
One thing I like most about this site is that you have up to two weeks to decide if you want to go back on your offer.
So, say you sent in your jewelry to Cash for Gold USA and received your check in a couple of days.
Then, three days later, another company gets back to you with its quote, which is a few hundred dollars more than your original quote.
You can send back your check to Cash for Gold USA and get your items returned.
You have up to 14 days to do this if you change your mind.
This company is also known for paying some of the best prices you’ll find, so it could end up being the easiest and quickest way to get the price you were looking for.
Other Places to Sell Gold or Silver
Cash for Gold USA may be one of the best options online for selling your gold items, but if it doesn’t accept what you have, you’ll need a few other options.
In that case, one of these other sites might help you out:
With Express Gold Cash, you can request a mailer kit with instructions and a bubble mailer for your pieces right from the website.
Fill out the information card and send your jewelry back in the mailer to reach the Express Gold Cash team.
Once the team looks over your jewelry, you can receive an offer and get your cash within 24 hours.
The company insures your jewelry up to $5,000.
Send in information about your jewelry to Mondiamo, which has a team full of gem and jewelry experts who can give a fair value price for your jewelry.
Within a couple of days, you should receive an offer range based on the details you gave.
If you accept, you’ll send in your jewelry for a final inspection by the team.
You can choose whether to get paid on the spot or have your stuff sent back if the value was lower than you expected.
Mondiamo pays via check and bank transfer.
Ask for a free appraisal kit from SellYourGold online and have it shipped to your home.
Ship your jewelry once you receive the kit, wait for your offer, and get paid within 24 hours if you accept it.
This site takes everything from jewelry to gold coins and some scrap metal pieces.
The Real Real is an online consignment shop that allows more than just jewelry items, but it’s still a good place to consider selling your jewelry.
Once you send in your items, the company takes care of all the legwork, including valuating and photographing everything to sell.
You can get paid for what sells by check, direct deposit, or site credit.
Site credit will give you a little more than the other methods.
Get a free appraisal kit from Things We Buy to turn your jewelry, watches, and diamonds into money if the price is right.
You’ll get an offer after an evaluation and you’re allowed to speak with the appraiser to help you decide if you want to accept the offer or not.
If not, the company will send back your jewelry, but if you decide to take the offer, you can get paid with PayPal.
Worthy lets you sell rings, watches, necklaces, bracelets, and more.
Use the online form to fill out some information that will help Worthy value your items.
Once you send in your items using the free shipping mailer, the expert team will list your jewelry for auction on the site.
Worthy takes photos of your items and adds descriptions, so you don’t have to worry about anything besides sending them in.
You can get paid via a bank transfer, PayPal, or a check.
You can sell jewelry, diamonds, and other luxury items on WP Diamonds.
It has a 100% trust guarantee that backs your items if you decide not to accept the offer and have your items returned.
As I mentioned earlier, scams can run rampant in this area of the internet.
There are a lot of legit websites in this arena, but there are also a lot of shady ones that give you a quote but never intend on sending you your cash.
You’ll want to be diligent about doing some research before using any jewelry buying site.
The ones I listed above are good sites to use with good reviews, but that doesn’t mean they always will be.
Sometimes, websites change owners and their operations could change as a result.
Take a few minutes to read reviews before sending your items in.
You should also look for some trust elements on the site, like secure transactions, refund policies, and contact information that proves the company is easy to get a hold of if there’s a problem.
Conclusion: Places to Get Cash for Gold
Selling gold online can be a risky business if you’re not careful about the sites you’re using and knowing how much your jewelry is worth.
When you’re careful about using a trusted appraiser and jewelry buying site, you could end up with a price you’re more than comfortable selling your items for.
Let me know in the comments if there are any other sites you’ve used and trust!
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