Open up your jewelry box. Lift the main tray and check underneath. What’s down there? Knotted gold chains, single earrings, broken rings, and dented bracelets? Well, why keep all that junk around when you can get rid of it and make a tidy profit too? But because of the rising price of gold, shady gold buying enterprises have been popping up all over the country. How do you know that you’re selling your gold to someone who’s trustworthy and will offer you a fair price for it?
Read this handy guide for some ideas about how to sell your gold for maximum cash and maximum peace of mind.
Know Who You’re Selling To
When you’re looking to sell your gold, it’s prudent to stay away from pawn shops and dedicated gold buyers. Think about it this way: Pawn shops make their money from paying the least amount of money for products they can resell for a high amount (and they may not buy scrap gold), while gold-buyers’ entire business model is predicated on them making fast returns on high-volume, cheap purchases. Plus, it’s impossible to miss that they’ve sprung up by the hundreds in recent years, making them a slightly shady, fly-by-night option.
Don’t get over-emotional when you’re looking to get rid of that post-divorce engagement ring—turn to an established jeweler like Rumanoff’s Fine Jewelry, whose established nature and diversified business model ensures that you won’t be disappointed by selling your old gold.
Know What You’re Selling
Turn over your wedding band and check out what’s stamped inside the piece. Maybe it says “24k,” or “18k.” 24k gold means that the gold is at least 99.95% pure. 18k means that 75% of the piece is gold. But those are just two examples of what can be found on jewelry, and they all refer to different amounts, alloys of, and purities of gold that can be found in a given piece.
It’s a hassle for everyone if you’re bringing in just a bag of mixed gold, and if you don’t know what you’re selling, then you may end up unpleasantly surprised about the worth of your gold or have unrealistic expectations. And if you’re not selling to a reputable jeweler, there’s a chance that not knowing what you’re selling may get you taken advantage of by an unscrupulous gold-buyer.
There’s no reason to go with the first company that gives you a quote. Shop around and speak to a few different parties to ensure that you’re comfortable with what’s being offered. You may be surprised at the variety of offers that can be given for the same quality of gold. Still, we’re confident that for men and women in Hamden, you’ll be comfortable making Rumanoff’s Fine Jewelry your first stop for selling your unwanted gold jewelry and scrap!
Ask Us about our Gold Buying Services
Rumanoff’s Fine Jewelry has been serving the Hamden area since 1938, and we’ve been expanding our services and collections of elegant jewelry over the course of decades! In addition to our gold buying service, we also showcase elegant bridal pieces, including halo engagement rings, as well as top-shelf fashion jewelry and Swiss-quality timepieces. If you’re interested in finding out more, contact us at (203) 230-1199 or visit our Hamden, Connecticut showroom today!