With gold prices at a record high and increasing personal financial stress due to the economy, many people are selling their gold jewelry. You see the ads on TV. “Send us your gold and we’ll send you a check.” You also see the signs all over town stating “We Buy Gold.” People are even hosting Gold Buying Parties. Well, are you really getting the best deal?
Tom Seguin, Master Gemologist Appraiser of Suncoast Gem Laboratories, was an Expert Consultant for this “8 On Your Side” report on Selling Your Gold Jewelry. You will see the wide price range offered for the same pieces of gold jewelry and what the gold jewelry really worth.
Here are some tips:
- Don’t fall for the send your gold and we will send you a check. Instead, do your homework.
- Go to local reputable companies. If you don’t have experience with any, check with the local chamber of commerce or Better Business Bureau.
- If you don’t have a trusted relationship a particular company, get an estimate from multiple companies.
- Make sure they have qualified jewelry appraiser. Ask for proof of credentials and education in jewelry appraisal. A qualified, reputable appraiser will have this proof readily available.
- Get all of the estimates on the same day as the price of gold fluctuates.
- Use the same tips for your non-gold jewelry.
So do your homework and get the best price for your jewelry.