Don’t be cheated: Learn how to sell the genuine gold jewelry

Sell gold bracelets

Gold buyers like us normally go by weight

Selling gold is an area where you are likely to find a lot of cheats, so go into it with your eyes wide open. Before you take gold jewelry anywhere, bone up on the current price for gold—check on the Internet or in the newspaper. This shows the buyer that you aren’t totally clueless, and you’ll be less likely to get cheated. Gold is priced per troy ounce, a measurement slightly different from regular ounces. Make your own ballpark estimate before trying to sell.

Here’s how.

  • Examine the karat mark of your jewelry items and divide into piles. Most will be 10k, 14k, or 18k. If it isn’t marked, it is probably gold plated or gold wash and worth next to nothing.
  • Weigh each group separately on a postal scale to determine number of ounces.
  • Convert ounces into troy ounces using an online converter or do it yourself by multiplying regular ounces by .912. (Gold prices are quoted in troy ounces.)
  • Deduct a percent for the part that isn’t gold. 10 karat is 41% gold, so you’d deduct 59%. 12 karat is 50% gold. 14 karat is 58% gold. 18 karat is 75% gold, and the highest you are likely to see in America. 22 karat is 91% gold. 24 karat is pure gold. So 20 troy ounces of 12 karat gold equals 10 troy ounces of pure gold. Why don’t you see much 22 or 24 k gold in America? Because it’s too soft to make good jewelry. A neck chain of 24 k gold would pull apart with minimal effort.
  • Multiply by the current troy ounce price.

That is what your gold is worth at retail, but of course you will not get that much for it. You are selling at wholesale – the buyer will sell at retail. Many dealers will offer you half the retail value. Shop around to get the best price. Reputable gold buyers should pay 70% or maybe 80% of the retail value. Knowing approximately what that is will protect you.

Yes, there are pawnshops, online buyers, mail order schemes, and fly-by-nights who breeze into town and set up shop in a hotel room, but your best bet by far is a reputable, local jewelry store or coin dealer that buys gold and silver and sticks around for his reputation to matter. Let the buyer know up front that you are going to get two or three offers before selling and hold to that plan.

Gold-looking jewelry made in the twentieth century is sometimes marked GF for gold-filled, a deceptive term that means a very thin layer of gold over base metal. Watch out for 14k GF, which sounds better but is still just a thin, thin, thin coat of gold. It is worthless as gold, but it may have value as costume jewelry or vintage jewelry.


Shared by Gold Rush Baltimore (Maksud Temirov)



It was early in the Civil War in April of 1862, and the battle was on. The Battle of Shiloh to be exact, in southwestern Tennessee. Confederate soldier Lt. George Dixon was in the thick of it. Unfortunately, a Union soldier got the better of him, and shot Dixon in the leg at close range. Miraculously, the bullet ricocheted off a gold coin in his pocket and Dixon lived. But why did he carry a gold coin into battle?

The story goes that before Dixon left for the war, his true love Queenie Bennett gave him an 1860-minted $20 gold coin for good luck. Queenie instructed Dixon to keep the coin with him at all times. Dixon did just that. And it saved his life.

This story has been passed down for well over a century. As is the case with word-of-mouth stories, debates arose over the tale’s validity. But all those arguments were put to rest 150 years later. Archeologists were examining the wreckage of the Civil War submarine the H.L. Hunley, of which Dixon had been the commander. While searching through the debris, they discovered a misshapen gold coin.

Upon restoration, it was discovered that this was in fact Dixon’s lucky coin. Aside from being found near Dixon’s remains, the coin also had a very specific inscription. After the coin had saved his life at Shiloh, Dixon had the coin inscribed. The obverse still showed Lady Liberty, but the reverse read:

April 6, 1862
My Life Preserver
G. E. D.

And so it was. Dixon’s life was saved by an 1860 $20 Lady Liberty gold coin. Unfortunately, the coin wasn’t enough to save him on the H.L. Hunley, which sunk after its first and only mission in February of 1864. But it did prolong the country’s memory of Dixon. Lucky coins have all kinds of origins. Come tell us about yours.

Source: komonews.comgoldcoin12345