If you have broken pieces of jewelry or treasured heirlooms that hold no sentimental value, it may be time to cash them in. Whether you’re selling to an online gold buyer, local jeweler, or pawn shop, understanding how to evaluate and assess your items will help ensure you receive the best offer possible. 

Jewelry Companies 

With gold prices soaring, many people are turning unused or broken jewelry into cash. For some, it’s an immediate infusion of money; for others, it’s a chance to unload items that serve little purpose sitting in a drawer or closet. 

When selling your old jewelry, the value you receive will depend on the purity of your pieces. Most jewelry buyers assess the quality of gold based on its karat rating. Higher karat ratings mean more pure gold. The karat rating is typically stamped on the item’s surface. 

In-person sales to local jewelry stores may offer a better alternative than pawn shops and online sellers. But make sure to visit multiple jewelers, so you can compare offers before making a decision. Also, be careful when selling to a local jeweler, as they often add a markup to the gold spot price in order to cover rent, insurance and wages. This will reduce the amount of money you’ll receive for your gold. 

Pawn Shops 

Although most cities and towns have pawn shops that buy gold, these locations are unlikely to offer the best returns. The staff at pawn shops often lack the knowledge of precious metals needed for accurate appraisals, and they may also be more focused on securing an immediate sale than maximizing their payout. 

This is why it’s important to research buyers before you sell gold Denver items to them. Look for gold buyers with a long history of reliable customer service and experience in the precious metals industry. 

Whether you’re looking to make a quick cash infusion or clear out your drawers of broken jewelry, selling gold is a great way to turn unwanted assets into valuable money. However, where you choose to sell can significantly impact the return on your investment. By understanding how the price of gold fluctuates and exploring your options for finding the best buyer, you can maximize your returns. 

Online Marketplaces 

Whether you're looking to capitalize on current gold prices or declutter old jewelry you never wear, it's important to understand your options for getting cash for

precious metals. From pawn shops and jewelry stores to online buyers, knowing where to sell can significantly affect your return. 

Beware of scams even online or meeting potential buyers in risky areas. Online scams are becoming more common so it is important to sell your items to trustworthy jewelry companies. 

Keep in mind that the spot price of gold changes daily, so it's important to regularly check the current value to see if it's a good time to sell. Staying up to date on current prices can help you negotiate confidently with buyers and avoid offers below market value. 

Local Jewelers 

If you want to sell your gold and jewelry in person, it’s likely the best option for you to visit a local jeweler. Having an in-person transaction with someone you can trust can provide peace of mind that you’re receiving fair value for your items. 

Visiting a local pawn shop or coin dealer also gives you the chance to interact with sales people that are known for their ability to “sell ice to Eskimos.” These types of individuals can be particularly aggressive in negotiations so it’s important to stay clear-headed and make logical decisions during the selling process. 

Regardless of which type of buyer you choose, research their reputation and experience in the industry to ensure a smooth and profitable process.