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Low on Cash? Then Exchange Gold For Money!

By: katie sillner

First, determine what you want to sell. For some people it may be easier to determine what they don't want to sell - for instance, anything with major emotional attachment is harder to part with. Because most jewelers melt down the gold they buy, it's in your best interest to keep what you know can't be replaced and you wouldn't want to lose. It can be hard to decide what you want to sell, so think of it as a spring cleaning exercise. Don't worry too much about workmanship - as mentioned, when it's melted down the workmanship means nothing.

Sometimes you have to spend money to make money, and trading gold for cash is no different. In order to make sure you don't get low-ball offers for your gold, get it appraised. Sometimes this will cost money, though some jewelers will do it for free. By getting your gold appraised you can get a good idea of how much to expect for your gold, so that you can set a realistic price range.

Finding a legitimate place to trade in your gold is really a trivial matter. There are plenty of businesses willing to buy your gold, but the best places to look are your local listings. Find any jeweler who buys gold, and call them up to find out how they do business and what kind of rates to expect. Get as many bids as you can, and when you feel you're not going to get anymore, sell it to the highest bidder.

You shouldn't expect market price for your gold, unless you have 24-karat gold jewelry. Most gold in jewelry is 10-14 karats, while the market is based on 24 karat gold. Because of this you should expect at least 90% of market price, depending on the size and weight of your gold piece. By doing a little bit of legwork you'll be able to increase the amount of money you make with your gold.

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Katie is an avid reader and enjoys writing about different experiences. She has written for many various websites that include topics like crib mattress pad and anti aging face cream.

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