Selling gold and other jewelry

[disneysteve]

The one thing that I got from my late cousin that I’m not quite sure how best to handle is a bunch of jewelry. Several gold rings, some watches, and a couple of other pieces. Most of it belonged to his parents who were not well off so I doubt any of it is of great value but the gold stuff is at least worth something.

What’s the best way to sell that stuff? A local trustworthy jeweler? A cash for gold place? An estate jewelry shop? Antique store? eBay?

 

[Aerides]

You'll want to do a cursory evaluation yourself. Look for marks (10k, 14k etc.) name/maker stamps, and then google/ebay for similar items. Determine approx age, value, condition before you bring in a 3rd party. Also, make sure you know the gram weight on the gold (a good digital scale is helpful for this).

Then you can decide from there, and depending on your initial value determination, pick your best choice to unload. eBay for items over $100 would not be something I'd want to jump in on without a lot of experience. It's also quite time consuming if you have quite a few items.

 

[Teacher Terry]

Local jeweler that is trustworthy.

 

[Jerry1]

Local jeweler that is trustworthy.

That’s what I was thinking. At least they could help you figure out if any of the jewelry is worth more than the gold value. I’d probably take it to two just to be sure, depending on what I had.

 

[COcheesehead]

I sold my Dad’s coin collection on eBay to help fund his assisted living. I knew little about coins. I just described them as best could and let the hundreds or maybe thousands of lookers on eBay decide the value. I figured no one is going to let a deal go by and the market would find its own price. I thought it worked out well. Some sold for a lot more than I could have imagined. Gold coins, not even old ones, sold over spot gold prices which I thought was interesting. I guess gold dealers have a commission and eBay sellers do not.

 

[Graybeard]

This is an older link, I saved it when I was considering selling gold wedding bands when gold was up years ago.
https://pocketsense.com/calculate-gold-prices-per-gram-4822684.html

 

[bobandsherry]

I had some gold from FIL to sell. I checked out a jeweler, pawn shop, and a place that buys gold. Surprisingly the pawn shop was the best offer.

Having years of experience selling on eBay I sold the items there. I got about 20% more than even the pawn shop's best offer, after the fees paid to eBay, PayPal and postage. I spent a few bucks buying a jewelers scale so I could accurately weigh the items, but that was all.

If you don't like to sell on eBay shop around at a couple places, differences may be eye opening.

 

[HarveyS]

My experience would say to avoid the "we buy gold" places. I had a gold coin that was 24k and a half ounce. It was a commemorative piece that was real, solid gold. The we buy gold place offered about 50% of the spot market value for the gold. You certainly pay for convince at those places, which is fine - they have bills to pay. But, if you want best value I'd go the jeweler or eBay route.

 

[braumeister]

Some years ago I sold gold jewelry to these folks and was happy with what I got for it.
Several friends have said the same, so I would recommend at least getting their offer.

https://usgoldbuyers.com

 

[PatrickA5]

I've been wondering the same. We have several jewelry boxes full of stuff. My guess is it's not worth much of anything since my parents didn't have much money and my FIL was cheap. I imagine 99% of it is costume jewelry. I've read that even the pearls aren't worth anything since June Cleaver doesn't exist these days.

 

[CindyBlue]

I've read that even the pearls aren't worth anything since June Cleaver doesn't exist these days.

Hey, Joc Pederson from the Atlanta Braves has made pearls a fashion statement again!

 

[rk911]

The one thing that I got from my late cousin that I’m not quite sure how best to handle is a bunch of jewelry. Several gold rings, some watches, and a couple of other pieces. Most of it belonged to his parents who were not well off so I doubt any of it is of great value but the gold stuff is at least worth something.

What’s the best way to sell that stuff? A local trustworthy jeweler? A cash for gold place? An estate jewelry shop? Antique store? eBay?

myself and my wife inherited a lot of jewelry when our mother's passed away. my wige was sure her mom's stuff was "the real deal". i was almost certain everything was costume jewelry. but being the most excellent husband that i am I cataloged and photographed the pieces (about a hundred or so...just in case) and then took them to a reputable jeweler in town for appraisal (no cost). all pieces were indeed costume jewelry.

the takeaway....have the items appraised by a local, reputable jeweler. stay away from the "we buy gold" places especially the "mail us your gold" outfits.

 

[disneysteve]

the takeaway....have the items appraised by a local, reputable jeweler. stay away from the "we buy gold" places especially the "mail us your gold" outfits.

I'm quite certain which items are real. There are several gold rings with proper markings. I've looked up the watches and none are of any particular value but an estate jewelry place might still be interested in them.


I've always heard to avoid the mail in places. That wasn't even on my list of considerations.


I'll gather everything together and head to an area jeweler that is frequently recommended in our town's Facebook group. Thanks everybody.

 

[RobbieB]

I sold a lot of chains and baubles marked for melt at 80% of spot. Everything was closely examined and/or acid tested. They have no interest in anything but solid gold. Don't bring anything fancy with stones (sell it yourself or keep it) and you can sell costume stuff on ebay by the pound.

 

[Koolau]

I had some gold from FIL to sell. I checked out a jeweler, pawn shop, and a place that buys gold. Surprisingly the pawn shop was the best offer.

Having years of experience selling on eBay I sold the items there. I got about 20% more than even the pawn shop's best offer, after the fees paid to eBay, PayPal and postage. I spent a few bucks buying a jewelers scale so I could accurately weigh the items, but that was all.

If you don't like to sell on eBay shop around at a couple places, differences may be eye opening.

I second this suggestion. Shop around at pawns shops, jewelry resellers, coin shops etc. The difference place to place will surprise you. Consider a trip to another city - especially a larger city than where you live (bundle the trip with something else like family/friend visit, shopping, etc. so the time/expense is not totally wasted if it doesn't work out.) I'd avoid the "we buy gold places" in general, but try one just for comparison because YMMV.

 

[brett]

We have taken gold to a small local jeweler twice.

He takes it to the refiner. He takes ten percent, we get 90.

Those clowns at the shopping center jewelry stores or hotel events who give a price per piece are robbers. Avoid them.

 

[brett]

We have taken gold to a small local jeweler twice. He sorts and weights by carat. Always a surprise when he gives us back something and says no gold.

He takes it to the refiner. He takes ten percent, we get 90.

Those clowns at the shopping center jewelry stores or hotel events who give a price per piece are robbers. Avoid them.

We do it when gold is on the new because of high prices and when our currency is at a lower value.