Cashing in old pieces

Aug 17, 2008
147
0
Not really a jewelry person, but in sorting throw my things i found some old jewelry of mine I no longer use. I found 3 gold charms, One name plate necklace, and a few broken bangles. Is there any cash in bringing this into a jewlery store? I saw two buy my house that have signs saying we buy gold. Has anyone done this? What did you get and what did you give in?
 

Japster

Member
May 8, 2006
7,103
14
WI
I was actually writing up a guide to buying & selling Estate pieces, so I will put a few tips here. :smile:

The gold market is very high right now (it's anywhere from $800-900 an oz which is DOUBLE what it was a few years back). This means that it is a GREAT time to sell your old jewelry- even broken items. However, before you go in to sell your items you should at least get an idea of value.
Selling Tips:

1.) Remember that Dealers will not pay retail. Most dealers/Jewelers will pay scrap value or below. This is the market price and is perfectly reasonable. The retail price you paid is not going to be a consideration in their offer because most "unsigned" pieces are bought based on pennyweight value & gemstone value. The design and/or the "puuurrrdy-ness" of the item are not considered UNLESS you have a high-end designer pieces that will nab a slight premium above scrap value (Roberto Coin, Van Cleef, Cartier). While your jewelry piece/diamond may be very lovely and interesting, they need to buy items with the intent to resell them. They can get your item from wholesalers and there are many thousands of diamonds available through dealers/diamond cutters so there is no incentive to purchase yours at a "retail" price.

2.) Research your items value. Look for stampings to confirm what type of metal it is.
750=18K gold (75% pure gold).
575=14K Gold (57.5% pure gold content.
Weigh your jewelry on a scale to find out it's gram weight. You can than look up the current market price of gold and than determine your items "Melt Value." You can also call ahead to see what the store is paying per gram that day.
If the piece is broken, take out any diamonds or gemstones and just sell the piece as gold scrap. You can sell the diamonds seperately.
Here is a breakdown of value, to give you an idea.

If you have a 14K Gold Bracelet that weighs 12 grams (broken or not). Let's say that gold is $828.10 an oz. 12 grams of 14K at $14.48 is: $173.76.
Keep in mind that some dealers will only pay 60% of that $173.76, while others will pay 70% or 80% because they have to pay a refining & treatment charge and there is some loss in assay results after the gold is melted.
 

melanierez

O.G.
Apr 9, 2007
852
21
64
I sold jewelry this summer, and I could not believe how much money I got for them. These were old broken necklaces and bracelets, some old boyfriend jewelry saved for many years and never worn, my gold high school ring that has sat in the drawer for many years, and I got about $1800.00 for everything. I was thrilled and used this towards a new setting for my engagement ring! Now is the time to do this!!
 

Japster

Member
May 8, 2006
7,103
14
WI
Melanierez, where/how did you sell your jewelry?
Quite frankly- almost ANY jeweler is buying right now. It's unbelievable. Of one of the big jewelers trade groups I belong to, many of them were saying they are buying THREE times more than they are selling from their store. crazy, huh?! My dad is a huge scrap buyer and I will sometimes buy scrap too. It's a very great way to recycle old pieces and it's very "green" and earth friendly.... it's just a HUGE HUGE pain to pick out the gemstones, seperate everything. total PITA at times.

You can call around to local jewelers and pawn shops. Really any of those guys will be buying.
 

mishaagui

O.G.
Jan 3, 2007
1,207
8
Japster, Thank you so much for your guide! It is very helpful.
Over the past 2 years i've been selling off jewelry i no longer liked or pieces i was no longer wearing and little by little purchased/ upgraded to pieces which i truly love and more my style. At first i was being very sentimental about it (for these were things i bought when i was younger or given to me by my mom or grandma) but then now i know i've made the right decision for the jewelry i have are no longer hidden in a case but are now out there for me to enjoy & for others to appreciate :smile:
 
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Kitsunegrl

Fill the Giant Pig!
O.G.
Nov 7, 2006
13,314
104
Cajun Country
I recently used USGoldbuyers.com to sell off broken jewelry. They were very prompt and I received more from them than what my local jewelers offered.
 

melanierez

O.G.
Apr 9, 2007
852
21
64
The first time I sold some jewelry, I sold it to my friend's neighbor who was a jeweler. I trusted her, and the price was great! Then I saw a sign advertising a local jeweler in my area (New Jersey) who buys jewelry for cash. There were several people in there selling jewelry, and I felt that I got a good price for the gold. Actually, I was quite amazed that I got as much as I did, so I didn't see any reason to price it with other jewelers. I truly had not used any of the pieces that I sold in years, and many of the other chains were broken or twisted. I now have a gorgeous new ring to show for it!!!

Check your local jewelry stores - many reputable jewelers have signs up that they buy old jewelry, and you'll be pleasantly surprised! Good luck!
 

Phillyfan

O.G.
Nov 25, 2007
6,406
297
Does anyone regret a gold item that they sold? I have a bracelet, never ever worn, but was passed down in family. It is probably worth quite a bit. But if I never worn it since I received it at age 10 and now I'm 44, should I sell?
 

elle tee

Member
Dec 6, 2006
3,729
6
nyc
Does anyone regret a gold item that they sold? I have a bracelet, never ever worn, but was passed down in family. It is probably worth quite a bit. But if I never worn it since I received it at age 10 and now I'm 44, should I sell?
Personally I would probably regret selling that. Even though you don't wear it, it sounds like it's got a lot of sentimental value- do you have children, or nieces who might one day enjoy it? Once you sell something there's no changing your mind!
 

briannaVee

Member
Oct 16, 2008
67
0
Indiana
I am 46 and have a bracelet that was passed to me by a great aunt. I never wear it (although I don't know why) but would never sell it. It is too special and I will pass it on to a niece.
That said this same aunt left me a ton of designer costume jewelry and I did sell some of those pieces but kept the higher end items and the ones I remembered her wearing
Does anyone regret a gold item that they sold? I have a bracelet, never ever worn, but was passed down in family. It is probably worth quite a bit. But if I never worn it since I received it at age 10 and now I'm 44, should I sell?
 

Phillyfan

O.G.
Nov 25, 2007
6,406
297
I am 100% not selling. I feel it was definitely not meant to be as when I inquired this morning - cost of gold is down. I think I should wear it!