Antique Gold Necklace

Posted onNovember 30, 2011 - 9:06 am by Admin | 0 Comments

With the price of gold hovering around $1,000 an ounce, it seems like a no-brainer to sell off old jewelry to be melted. Not quite. “It is easy to check the current retail value of gold at www.kitco.com,” said Martin Fuller, an appraiser and master gemologist appraiser, on the American Society of Appraisers website. “But it is also important to know that no one will pay the current top dollar for gold, because that would leave no room for profitable resale.”

Also, a gold necklace bought for $200 won’t be worth $200 melted down. “Even the price of a piece of jewelry bought on sale from a retailer is usually far more than the intrinsic value of the metal,” explains Cash4Gold on their website. The price of gold also fluctuates daily, affecting payment. In their November 2009 investigation on selling cash for gold, Consumer Reports offered an 18K necklace, worth about $70 melted down, to different buyers. Different online buyers offered them $7.60 to $20.59 for the piece.

Cash for Jewelry: What Should Be Melted?

Before stuffing necklaces, earrings, brooches and rings into a pre-paid envelope and sending it off to be melted down, go through the whole jewelry collection first. Separate plain gold pieces from those with gemstones. Most cash-for-gold companies will not compensate a seller for any gemstones included with jewelry, although some will pay for diamonds.


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