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Selling Gold for Cash

Monday, March 25th, 2013

The price of gold continues to rise, and this had led to a rapid expansion of the gold buying industry.  You can’t escape the endless flood of advertisements telling you to bring or send your gold and walk away with cash.  There’s something those advertisements don’t tell you, though.  If you’re unprepared or if you deal with a disreputable company, you’ll be getting pennies on the dollar for your gold.  Here is some information that can help you through the process.

First Off, Understand What You Have

The first thing you need to know is what it means to have scrap gold.  Scrap basically means useless or wasted, and scrap gold is just that, useless to you.  It can include bent or broken jewelry made of gold, chains or bracelets that are hopelessly tangled, casting gold and grain, gold flakes, alloys that contain gold, and even gold dental work.  You might even have gold from industrial applications.  The key is recognizing what you have, the purity of gold it contains, and how much of it is in your possession.

Valuing Your Scrap Gold

Gold is typically sold in pennyweights, with each pennyweight representing one twentieth of an ounce.  Weigh your gold and convert it to ounces to determine what you have.  You can then multiply the result by the price per ounce, but don’t forget that the price is for pure gold, and you likely have gold of a different caliber.  Also, keep in mind that you can’t hope to get the market price for gold unless you’ve got gold in pure form that requires no smelting (melting, refining, and forming.)  Gold in coin or bullion form, for example, will carry a cash value much closer to the market price.  You can expect far less for your scrap gold, but there are very significant differences between dealers, so don’t be content with a low price!

Choosing Where to Sell

The important thing to remember here is that you want to only deal with very reputable and established companies.   Even some reputable companies will offer you far less than you can get.  The mall gold buying setup with the expensive furniture has to pay for their location, and they pay for it with the deep discounts they receive when they buy your gold!  Selling your gold to a fine jeweler offers two distinct advantages when you can locate one that buys gold.  First, the jeweler has a main business operation that isn’t gold.  That means the company’s operations pay the rent and the bills.  The gold purchase is a service offered to benefit their clients, and they’re able to pay more.  Second, the jeweler is interested in a long term relationship with you, one that doesn’t end when you’ve finished selling gold but hopefully involves wedding rings, gifts, and other transactions for years to come.

If you have scrap gold, you can have cash, but make sure you stay on top of the items discussed here to get the best possible value for your asset.

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Selling Your Unwanted Gold

Sunday, March 24th, 2013

There is a great deal of attention on unwanted gold these days.  If you have  watched any television, read any newspapers, browsed the internet, or even walked through a mall, you have probably seen advertisements trying to convince you to sell your gold and to do it right now.  At Bert Levi Family Jewelers, we want you to get the best value for your gold, and that means you’ll need to know a few things, whether you allow us the privilege of buying your gold or if you sell it elsewhere.

First off, please understand that you need to actually have gold.  Unfortunately, just having your jewelry stamped with “14 Karat” doesn’t mean it is!  You’ll want to go to someone you trust to get a real and accurate appraisal of the content of your jewelry.  Make sure that you do a little research here.  You ought to be able to see reviews from other customers and shouldn’t have to do much work to understand a location’s standing in the community.  At Bert Levi Family Jewelers, we’re going to be an open book.  We know our customers trust us, and we know you will, too.

Keep in mind that you’re not going to be paid the retail value of your gold.  If gold trades at $1000 per ounce, that $1000 includes in it the margin a gold dealer needs to cover rent, payroll, and other expenses as well as a reasonable profit.  Remember also that the value per ounce you might read about in the paper assumes pure gold.  14 karat gold is about fifty-eight percent gold.  A reputable buyer is going to give you the best possible deal for your gold, taking these items into account.

One reason to seriously consider selling your gold to a Jeweler rather than a mall or mail-in buyer is that your jewelry often has more than gold.  In fact, with engagement rings, some earrings, and most pendants, the diamonds and other stones may be worth more than the gold.  A regular gold buyer won’t be as experienced working with stones and will either take them as though they were not attached, charge you far too much to remove them, or simply discount the value of the gold because the stones will need to removed before the gold can be melted down.

There are a number of concerns you’ll need to address if you decide to go the mail route with your gold, and we don’t recommend it, even if you choose somewhere other than Bert Levi Family Jewelers to sell your unwanted gold.  You’ll need to make sure you have insured it when you mail it, and you’ll want to take pictures.  You need to make sure you won’t have to pay to have it returned if you don’t like the price you’re quoted.  You’ll also need to make sure the company has insurance if they lose your package.  On the whole, we think face to face transactions are far better.

You can definitely make money selling your unwanted gold, but don’t make the mistake of entering into that battle unarmed.  Make sure you’re educated and make sure you have got a quality buyer that puts your interests, and your future business, on the top of the priority list.

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Cash for Gold

Sunday, March 17th, 2013

With gold prices at record highs, a great many people are selling their unwanted jewelry for cash.  Unfortunately, the booming market in gold buying is leaving a great many cash-strapped hopefuls without near as much cash as they should get!  Protect yourself by following these three steps:

1) Know what you have.

Gold is gold is gold, right?  Wrong.  24 karat gold is pure gold, while 18 karat is 75% pure gold, and so on.  Everything you have needs to thought of in terms of the pure gold.  So, if you have a gram of 18 karat gold, it’s really only three-quarters of a gram of pure gold.  In addition, how much work is involved in getting to that pure gold is part of the equation.  If you have a great many inexpensive stones in settings with the gold, a gold dealer will need to remove the stones when refining your items to get at the pure gold.  Remember that the price for gold you read about or hear about assumes pure gold in a very salable form, coins or bullion.  Even 24 karat pure gold in necklace form needs to be smelted by a gold buyer to get the money they paid for it and a reasonable return.
2) Know what it’s worth.

You can assume that if your gold was in it’s perfect salable form, you could get very close to the market value for it, essentially paying a dealer a small fee for convenience.  Since your gold is not in its final form, though, you’re not likely to get too close to the market price.  Gold buyers at the low end buy for as little as eighteen to twenty percent of its value!  Better buyers will offer you anywhere from fifty to seventy percent depending on the situation, and some can even do better depending on what you have.  When you have an understanding of the eventual value of your gold, you have a great deal better negotiating power when it comes time to close the deal.
3) Find a good place to sell.

In general, there are two places to avoid.  First off, avoid the mail in gold buyers.  They make their money by avoiding the conversations that lead to better prices.  By the time you have a quote, they have your gold and you have their check.  It’s far to easy to simply deposit the check or to miss the deadline for returning it, and it will never be what it ought to be.  Secondly, avoid the shops in malls and, well, just about everywhere, that have recently appeared.  You want to go directly to a refinery or to a local jeweler who makes money from other aspects of the business and has a vested interest in making your experience work for you.

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How to Turn Old Gold Into Cash

Thursday, March 7th, 2013

If you find yourself in the lucky situation of having gold on hand that you don’t want, you’ll be happy to know that it’s easier than ever to turn unwanted gold into cash.  That isn’t to say you should just rush out and get to it, though.  There are some things to keep in mind when you’re selling your scrap gold, and it’s important to pay attention in order to get you the best possible value for your asset.  Follow these steps, and you’ll be prepared to get the most cash your gold can get you.

First, figure out what your gold is worth.  Keep in mind that what you see as the price per ounce of gold when you read it in the newspaper is pure gold in immediate liquid form. (Usually coins or bullion.)  Even if your jewelry is pure gold, it will need to be melted to make it marketable, and you simply won’t get very close to the market price per ounce you’re reading and hearing about.  First, think about purity.  Pure gold (100% gold) is 24 karat.  That means and 18 karat necklace is only 75% gold.  Thus, if you have 18 karat jewelry, you’re already 25% behind gold’s quoted per ounce value.  Take whatever karat value of the gold you have and divide it by 24.  That will tell you the percentage of gold involved.

Next, weigh your gold.  If you use a kitchen scale that can tell you grams and ounces, you’ll do fine.  Assume you have twenty grams total.  Unless it’s 24 karat gold, that’s not twenty grams of gold!  If it’s 18 karat, it’s only 75% of that twenty grams, or fifteen grams of gold.  Just this little bit of knowledge and a calculator will tell you how much you have in truth.  Convert it to ounces.  There are 28.35 grams in an ounce, so if you have fifteen grams, you have 0.53 ounces of gold.

Next, determine the market price.  If you have .53 ounces of gold, and gold is selling at $1400 per ounce, you have about $742 worth of gold in your scraps.  Now, you have a good basis for making an informed decision about your sale.  If somebody were to offer you $100, you’d know the person was disreputable and completely unfair!  Keep in mind, though, that your piece is not worth $742 just because that’s the value of gold.  In order to realize a profit from that gold, a dealer will need to melt it down, refine it, and put it in the form the market price reflect, a bullion form.

Find a reputable dealer and bring your gold, armed with a good knowledge of its value.  Avoid the gold buying shops that have sprung up later.  Either go straight to a refinery or find a jeweler who buys gold.  While most of the recent market expansion has taken advantage of consumers’ lack of knowledge, a local jeweler not only wants your gold, but your jewelry purchase business as well.  You can rest assured that his or her treatment of you will be based on a desire to have a long term and ongoing business relationship.

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Will the Price of Gold Hold?

Wednesday, October 26th, 2011

With the sky-rocketing price of gold today, the budding question on everyone’s mind is whether or not it will hold its value in the future. Sitting at over $1,500 an ounce, the price of gold is bursting through old ceilings as investors desperately seek a more solid product in which to rest their ailing stocks.   Each day that passes breeds more people interested in buying gold & selling gold.

As the U.S. dollar continues to take a nosedive, gold has taken center stage in the portfolios of conscious investors. Creating a modern-day gold rush, this precious metal sits on a bubble that has many skeptics looking concerned. Much like the housing peak of 2007, investors fear that the rise in the price of gold and silver is the result of careless speculation. Others believe that it is a result of economic troubles that have caused a transition from more risky stocks to a more stable gold solution.

Over the past few years, gold prices have continued to increase. To make an assessment on the stability of gold, one must look at the overall factors that affect the price of gold.

  • Gold has significant commercial use. This means that even in a recession, commercial demand stays strong and may even increase the price of precious metals.
  • Foreign demand helps stabilize the price of gold as commercial consumption overseas from Indonesia, China, and India remains strong even in a crumbling U.S. economy.
  • Often used as a hedge against inflation, gold is commonly added to portfolios as a protection investment. This cautionary surge has aided the value of gold in economic times of late.
  • The decline of the U.S. dollar has helped gold to become the preferred method of payment in recent times.
  • Central banks also affect the value of gold as they grow their gold reserves. Large gold purchases by central banks often lead to a surge in gold prices.

The value of gold in commercial trade will most likely help to keep its value steady over time. The question as to whether cautious stock holders will again begin to trade out of gold’s stability and into more aggressive stocks is yet to be seen. As well, if the value of the U.S. dollar recovers, gold could lose some of its stronghold.

Like most commodities, gold is driven by age-old supply and demand. Speculation also plays a part as investors hedge their bets for the future and decide whether to jump on the gold boat or wait for the next best thing.

Financial stress is a major player in the current demand of gold. Like all precious metals, gold is a defensive stock, holding its own in times of uncertainty. But even gold is not completely immune to economical stressors. If congress decided to turn over a new leaf and pay down its debt, if the US dollar made a rebound in value, or if gold or commodities tipped heavy on the scale, the value of gold could begin to decrease. But the chances of these factors coming true tomorrow—or any time in the near future—are quite minimal.

Even with the uncertainty of speculation in the price of today’s gold, it is still a stable stock; hence why it is used as a stabilizer in times of economic turmoil. Because of this, gold is also not a stock that should be bought and sold on a dime. Long-term goals must be kept in mind, as investing for the future is an important part of evaluating your assets. Gold is a great long-term investment and one of the most stable stocks in which to place your long-term savings.

That being said, if you have gold to unload in the way of jewelry and household items, now might just encompass the best circumstances under which to sell it. Although gold is a stable and fairly predictable stock, history shows that bubbles do sometimes burst, even on a smaller scale. What goes up often must come down, so if you’re holding onto a handful of gold that could help you lift a financial burden today and help you improve your tomorrow, selling your assets at the probable peak of the next American gold rush is a great way to reap the most out of liquidating your precious metal assets.

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Selling Your Gold: A beginner’s guide

Friday, September 2nd, 2011

In today’s economy, everyone could use a little extra green to line their pockets. And with the price of gold up over 18 percent since the beginning of 2011, digging up old relics could be your ticket to a hefty chunk of change. But the question of the hour now that gold is a hot commodity becomes: how do you go about selling your gold for the best price?

If this is your first experience selling gold, you might have a handful of opportunity and no roadmap for cashing it in. You may be tempted to run to your closest pawn shop, or attend one of the popular “gold parties” that are popping up where you can reap rewards and take home a check on the spot. But before you sell your grandfather’s watch, it’s important that you make sure you understand the fundamentals of the gold selling process.

Know Your Gold Scale

The worth of your gold will help determine its value, and jewelers use a specific measurement standard. Professional jewelers use the Troy ounce to measure gold. This measurement weighs in at 31.1 grams per Troy ounce, and buyers often use a weight system called a pennyweight to measure this out. Standard U.S. scales will measure 28 grams per ounce, so keep this in mind when selling your gold. A dealer that measures your gold by the gram is paying you less for the weight of your bounty than is fair.

Count your Karats

The karat number of your gold treasure can also help you determine its relative value. Because of its soft, malleable consistency, gold is combined with harder metals to improve its durability. This mixture describes the karat value of the gold. One karat equals a mixture that is 1/24th pure gold. So a ten karat piece of jewelry would consist of a mixture that is 10 parts gold to 14 parts other metal. Any jewelry that is less than ten karats is not allowed by U.S. standards to be labeled as “gold”. It’s important for you to make sure that when you sell your gold, the buyer weighs your different karats separately. This will keep you from getting bamboozled by dealers who will weigh all your gold together and pay you by the lowest karat price.

Know the Worth of Your Weight in Gold

Check with your local neighborhood jeweler to find the current market price of gold. Those looking for quick money often skip this step and then suffer the consequences of selling their gold for 60% or less than its market value.

Keep in mind as well, that you won’t get the full price of your gold. A buyer has to reap some profit and also cover the expense of melting down your pieces, if that is what will ultimately come of them. Expect to get 10-20% less than the full price for your gold.

Appraise Your Pieces

The fact that your item is made of gold may be a secondary consideration. Keep in mind that if your piece is made from a well-known designer, part of a historical event or is very old, you may be able to sell it in its current form for more than you would get based on its gold content. Do your research and have your pieces appraised in advance to ensure you’re not giving away a one-of-a-kind collector’s item.

Make sure you understand the fair market price of your gold by comparing bids from reputable local jewelers like Levi Family Jewelers. You can check the Better Business Bureau at www.bbb.org to set your mind at ease.

Ask for Credentials

By law, buyers should ask sellers for identification. This helps protect consumers by tracking the sales of stolen property. Reputable buyers should be in compliance with this rule, and any who are not should raise red flags.

Gold buyers should also be licensed by your state. Choosing a longstanding company is also an important part of securing the integrity of your transaction. Gold buyers are popping up left and right, and it’s important to choose a company or jeweler that has a history of integrity.

Taking a few safeguards into consideration will help you glean the best price for your gold, and help make your experience comfortable and profitable. Now is a better time than ever to turn your precious metal into profit.

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What Happens to Mail-In Gold Jewelry?

Thursday, April 21st, 2011

The value of gold has skyrocketed over the past several years, especially during the U.S. recession. This has sparked the trend of hundreds of startup companies offering to pay you cash for gold jewelry that you mail in to them. The marketing and promotion of these companies always sounds too good to be true and usually is just that: a scam. They are not outright liars, but they stretch the truth in every way possible. Have you ever wondered about the process and what happens to the jewelry you mailed in? If you do a little research before sending away your precious jewelry you will often find the companies will send you back a check for an amount much lower than any estimated value of your gold. Here is a brief outline of the process your jewelry will go through:

1.      Mail package: Each company will send you free supplies for mailing in your gold that comes with very limited (usually around $100) of insurance. They will receive your package in 3-4 business days but probably won’t get around to doing anything with it for about week.

2.      Valuation: It depends on the company, but many will make an estimate on the quality and value of your gold using one of the following methods:

a.      Electronic current: A device is attached to the gold and an electronic current is sent through it analyzing the quality of gold.

b.      Solution: The most common practice is simply scratching a small area of the gold and applying a solution on it that will change colors depending on the quality of gold. The color is then compared to a chart of colors that show how high of a karat rating your gold has.

c.      X-ray: A very expensive but accurate test is to use a special X-ray machine that analyzes every single metal that is in your jewelry. Most of the “mail in your gold” businesses won’t offer a value estimate using this technology because it is too expensive.

3.      Check is written: The business you are dealing with will estimate the value of your gold and then write you a check for an amount much lower. Although customers expect the actual amount paid to be lower than the estimate, people are generally getting ripped off when they receive checks for extremely low values.

4.      Check is sent: It usually will take a few days between the time the check is written and sent to you. This is often the number one complaint because you will likely only have 10 business days from the day the check was WRITTEN to file a complaint and either request more money or the return of your jewelry.

5.      Complaint filed: If you do file a complaint within the allotted time period, you will likely be offered more money for your jewelry but still not nearly what it is actually worth. Most customers won’t want to deal with the hassle of arguing and will just accept the offer for more money. Or you can request all of the items be returned to you so you can take it into a reputable jeweler and get an honest estimate.

6.      Melted down: Most people won’t file a complaint in time and the jewelry will be sent off to a gold refinery that melts it down and resells it as bullion to banks, collectors, and jewelers. All sentimental value of your gold will be lost and the antique quality of it is worthless. Unfortunately, people will often send in their gold when they are in a financial pinch and then later regret that they can never buy it back or see that someone else is getting good use out of it.

When you mail in your gold jewelry, it is essentially deemed worthless so the companies can pay you very little for it. They make a huge profit and you lose all the value the gold once had. Instead of opting for the highly marketed solution of sending in your gold for cash, call your local jeweler and ask if they have the capabilities of appraising it for you and even buying it from you. You are guaranteed to receive the best price for the gold and jewels. They will likely tell you exactly what will happen to it afterwards. Some items with high value and meaning to you will almost always be resold as antique jewelry and someone else is able to enjoy it as much as you. Others might be melted down and used to create new gold pieces, but you will always know in advance where your gold is going.

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When is the Best Time to Sell Your Gold Jewelry?

Wednesday, March 30th, 2011

The price of gold is constantly changing and prices are determined by a number of factors, in addition to demand, including the moving average, real interest rates, and the season. The current price of gold is $1,412.00/ounce, which is fairly close to the all-time high price of gold, $1,444/ounce, so this is not a bad time to sell your gold jewelry.

However, market trends indicate that gold prices may continue to go up, so if you’re not in immediate need of some quick cash, it may be wise to hold onto your gold while you study these market trends for a few months. If you need cash right away and have gold to sell, you can do so knowing that you’re still getting a historically high cash value for your gold jewelry.

1.    The Moving Average: The moving average of gold shows the average value of gold’s price over a set period of time. It is used to show the direction of price trends and to average out volume fluctuations. An upward trend is indicated when a short-term average price crosses above a longer-term average price. A downward trend is indicated when a short-term average price crosses below a longer-term average price.

When the current price of gold is above the moving average, this indicates an upward trend of price. The current 200-day moving average price of gold is $1,344.00, while the current 50-day average price of gold is $1,368. So not only has a short-term average crossed above a longer-term average, but also the current price of gold is above both the longer and shorter-term averages, indicating a continuing price increase.

These trends show that it’s a great time to sell your gold jewelry for a good profit, but they also show that you can probably hold onto your gold and get a better price in the near future. If the current price of gold continues to stay above the moving average, you can continue to wait to sell for an even better price. Some industry experts recommend that you wait to sell until the price of gold falls just below the 50-day average, claiming this is the best time to sell your gold because you’ll know for certain that you’re getting the highest price at this time.

2.    Real Interest Rates: Real interest rates are also used to predict future trends in gold prices. A real interest rate is a rate that has been adjusted so that it does not include the effects of inflation, reflecting the actual or real cost of something. The real interest rate shows you the true value of your cash or investments by taking inflation out of the equation.

This applies to gold prices because when real interest rates are below zero, the cash and short-term investments—the resources people turn to when they need money—lose money. So people turn to gold for money instead, driving the price of gold up. The real interest rate is calculated by the difference between the nominal interest rate minus the inflation rate (real interest rate = nominal interest rate – inflation). Currently, the nominal interest rate is 1% and the inflation rate is 2%, so the real interest rate is -1%. A real interest rate below zero is a good sign that gold prices will continue to go up, indicating that this is both a good time to sell gold jewelry and a good time to watch market trends and sell in the near future, if you can afford to.

3.    The Seasons: The seasons, and wedding seasons in particular, are another factor that determines the fluctuating price of gold. In reality, it is the demand for gold during certain seasons that will raise the price of gold, and gold is in higher demand during the popular wedding seasons worldwide.

For example, in India, jewelry manufacturers restock their gold supplies in January in preparation for the upcoming wedding season, driving prices up. The Chinese wedding season changes each year according to favorable dates on the Chinese calendar that fall on Saturdays and Sundays. In 2011, the best dates for a prosperous Chinese marriage fall on May 21 and May 22, increasing the demand for gold in May and months prior. European and North American countries prefer late spring and summer weddings with the wedding season tapering off in fall, and twice as many engagements occur in summer than in winter as well, so the demand for gold in the summer months is higher in these parts of the world.

Over the last year, the price of gold has steadily increased from its low point of $1089.00/ounce in April 2010 to its current high point of $1412.00/ounce in March 2011. So not only is now a good time to sell your gold jewelry for a good profit, but it’s also a good time to wait and sell for an even better profit, as prices will continue to go up according to current market trends and industry indicators.

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Should You Buy Her a Necklace, Bracelet, or Ring?

Wednesday, March 30th, 2011

Most women love to receive jewelry as a gift, especially when it comes from a significant other, giving the piece special meaning. But certain types of jewelry, and certain gemstones, are more appropriate than others during the different stages of a relationship. Another simple, but very important factor to consider when buying a gift of jewelry for your girlfriend or wife is her own personal style and taste in jewelry.

Rings:

Rings are the trickiest piece of jewelry to buy as a gift for a number of reasons. Ring size is an important factor, because you want to get the size right the first time and give her something she can put on her finger immediately and wear for the rest of the night. The best way to get the correct size is to borrow another ring from her jewelry box and take it with you to the jeweler, but if it’s one that she wears frequently, be sure to return it as soon as possible so that she never knows it’s missing or suspects anything.

If you’re new to the relationship and want to buy your girl a ring, you may not be comfortable with taking a ring from the jewelry box in her bedroom. In this case, it’s better to ask one of her close friends or her sister for advice on the size. Another woman who is close to her will either know her ring size or be able to borrow the right ring for you. If you decide to purchase something in the spur of the moment or simply aren’t prepared with her ring size, make sure you at lease get a band that you think will be slightly too large, as it is easier to size down a ring than to make one bigger.

A final word on rings: be careful about giving a ring that isn’t an engagement ring if you are in a serious relationship. If she’s expecting an engagement ring and doesn’t get one, she may be so disappointed that you would have been better off giving her nothing at all. If you’re in a serious relationship and want to give your girl a gift of jewelry, but aren’t ready to pop the question, steer clear of rings altogether and give her a necklace, bracelet, or even a pair of diamond-studded earrings instead.

Bracelets:

Bracelets are appropriate for any stage of a relationship, but work especially well for new relationships because they seem to carry the least amount of commitment and symbolism. This isn’t to say that you shouldn’t buy bracelets as a gift for someone you’re committed to. In these cases it will depend on the woman, the types of jewelry she likes to wear, and the pieces she already owns.

Women are more likely to buy bracelets for themselves than other types of jewelry, so if she doesn’t own a lot of bracelets, this could be a sign that they’re not her favorite type of jewelry to wear. If you’re not sure, it is always good to ask someone who knows her better than you do. Her girlfriends will think you’re a great guy and be happy to oblige. Also consider what she does for work and in her free time, as a bracelet is the most likely piece of jewelry to get in the way.

Necklaces:

Necklaces are also appropriate for any stage of a relationship, but seem to work best as gifts for the girl that you’ve been with for awhile but aren’t quite ready to make a lifetime commitment to. Whether to buy her a necklace can sometimes be determined by her wardrobe. A woman who wears a lot of low-cut blouses will appreciate a necklace to accentuate her neckline, while one that wears clothing that always covers her chest may appreciate a piece of jewelry that doesn’t draw attention to it.

Necklaces often come with gemstones in the charm, and the type of charm and gemstone is another important factor at each stage of a relationship. For newer relationships, a metal or stone charm is often a good place to start, signaling a lower-level of commitment that won’t scare either one of you. Certain gemstones like diamonds, rubies, and emeralds should be reserved for more serious relationships and special occasions. If your woman loves to accessorize and you’re giving her a casual gift (not for Valentine’s Day or your anniversary), a chunky fashion necklace may please her and suit her style.

Earrings:

Earrings are also safe at any stage of a relationship, so the most important factor will be choosing a style she likes. Studs are generally classier and better suited for special occasions, although this is not always the case when a dangly earring contains beautiful gemstones. As a general rule, if she has short hair or wears her hair pulled back most of the time, she’ll be better suited to dangly earrings than if she has longer hair that will hide the earrings or get tangled up in them.

Gold and Silver:

It’s always important to note whether your woman prefers gold or silver jewelry, as most will almost exclusively wear either one or the other. You don’t want to buy her a gold necklace that she’ll seldom wear because it doesn’t match any of her other pieces. This is especially important when purchasing an engagement ring – the one piece of jewelry she’ll wear every day. However, this is an easy obstacle to overcome, since you can simply observe the jewelry she wears each day or quickly peruse her jewelry box when she’s distracted. You’ll be able to tell right away which type of metal she likes to wear.

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Things to Know When Selling Your Gold

Wednesday, February 23rd, 2011

The price of gold has been reaching records highs over the last few years, prompting many people to sell their little-used gold jewelry. But most people have no idea what their gold is worth. Gold is sold on an open market, so the price of gold changes daily. However, the price of gold has been over $1000/ounce for several months, so this is a good time to get rid of your gold if you need extra cash.

Many gold buyers, including jewelers, will purchase gold in various forms besides jewelry, including gold bars, gold coins, and scrap gold. But most people who are looking to sell gold have gold in the form of jewelry.

You should try to avoid selling your gold jewelry as scrap gold, which can cause you to lose up to 75% of its retail value, since the price you get will be based on the value of gold metal. Scrap gold buyers will not take into account a piece of jewelry’s craftsmanship or antique value, not to mention any personal or heirloom value it may have to you and your family. When selling gold jewelry as scrap gold, its best to sell broken pieces, earrings that are missing their mates, old class rings, or a plain or engraved wedding band from your ex-spouse.

There are three main types of buyers that will purchase your gold jewelry:
1.    Jewelry stores
2.    Pawn shops
3.    Online gold buyers
You should be careful when selling to all three, and always protect yourself by taking some precautionary measures. Typically speaking, however, jewelry stores will offer you the best value at the lowest risk for your gold jewelry. Pawn shops offer a lower risk as well, but tend to pay less for your gold jewelry than a reputable jewelry dealer.

There are an increasing number of online gold buyers popping up these days—and sometimes these companies will give you the best dollar value for your gold jewelry—but you should be wary of any company, online or not, that asks you to mail in your gold in a pre-addressed envelope and then wait for a check to come back to you in the mail. This option offers the highest risk for a number of reasons, chief among them that you won’t know how much you’re getting until you receive the check up to several weeks later.

If you choose to sell your gold to a reputable online gold buyer, choose a company that will insure your mail-package contents for you. If you don’t like the amount of the check you receive from a mail-in gold buyer, you can request that your jewelry be returned instead, although you will need to make this request immediately. In 2010, complaints to the Better Business Bureau about online gold buyers were up by 60%, so it’s not a bad idea to consult with the BBB before dealing with one of these companies.

The best way to protect yourself when selling your gold is to do your research, get your jewelry appraised, and try to sell to a local jewelry dealer with a good reputation, preferably one that either you or a friend know personally or have dealt with in the past. When choosing a local jewelry dealer, it’s always best to start with a company that has been recommended to you by someone you trust. Plenty of your friends and coworkers have bought or sold jewelry in the past, so ask around if you don’t have any experience in this area.

When selling your gold jewelry, it’s always best to start by getting an appraisal. This is something you should consider doing to protect yourself and your assets anyway, regardless of whether you are thinking about selling your jewelry in the near future. An appraisal will cost you a little bit of money initially, but it is often worth it because of the bargaining power you’ll gain by knowing how much your jewelry is worth and having the credential of an appraiser to back you up. Try to find a third-party appraiser—one that is not currently buying jewelry themselves—who is more likely to give you a fair price based on the current market value.

Once you’ve gotten an appraisal, it’s time to start doing your research about the companies you’re considering selling your gold jewelry to. Start with local jewelry stores you’re more familiar with and find multiple buyers, which will allow you to “shop around” and see the range of prices you’re offered before you make a decision about who to sell to, often giving you additional bargaining power. Again, you can save some time by contacting the BBB about anyone you’re thinking of selling your gold jewelry to. Any jeweler who receives a bad review can be crossed off your list before you spend precious time going to their store.

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