Buy Diamonds in Phoenix - Buy Jewelry

How to Get Top Dollar for Gold

Do you have gold or other unwanted jewelry you're ready to sell in Arizona? What's great about gold and jewelry is that it's usually worth something to somebody. Whether you are just trying to make room for more belongings or need cash, here are steps to take to get the most cash for gold or jewelry. 

Step 1: Decide Why You're Selling

If you expect to make a big profit selling your gold or other precious metals, then you may have to wait until market prices reach your goals. Even though gold prices are much higher today than anytime in the last century, gold prices have been fairly stable in recent years. Then again, if you bought the gold decades ago, you'll make a profit at any price. 

Some people are just looking to sell gold at any price so they can make fast cash to pay down debt or a stack of bills. If you have specific price levels in mind, you have to put in the time and research. 

Step 2: Determine Your Gold Value

There are several ways that gold is valued, but it mainly comes down to weight, purity and current market prices. Keep in mind that jewelers typically weigh gold in Troy ounces, in which one = 31.1 grams. As for the metal's purity, check for markings on the piece, measured in karats (k). A 12k marking, for example, means the gold is 50% pure. Here are common gold purity percentages:

  • 10k = .417
  • 12k = .500
  • 14k = .585
  • 18k = .750
  • 24k = .999

Check the current market price for gold, which is found at GoldPrice.org. You can also use the site to research historic gold prices so that you can study trends.

Step 3: Find a Buyer

You are most likely going to find the best offer from a jeweler and not a pawn shop or by placing an ad online.  Remember that gold buyers are also interested in making a profit so consider 90-95% of the current market value to be a fair deal.

There is no shortage of vendors who will pay cash for gold or jewelry. It's mostly a matter of deciding whether you need fast cash or are willing to be patient. Visit gold buyers at Ralph Mueller & Associates, which pays top dollar and has been serving Arizona for over sixty years.