3 Tips for Selling Your Gold Jewelry

The price of gold has soared in the last few years, which has made gold buying and selling a huge business. The growth has led to a lot of misinformation about what selling gold actually entails. If you are a California resident with some gold jewelry lying around, here are three tips to help you get cash for your gold in Corona.

1. Identify what you have

Examine your gold jewelry to find the stamp denoting its purity. The stamp will usually express the purity in carats (e.g. 18K, 24K, etc.). Sometimes, you may see this figure expressed as a three-digit number. The number 999 denotes 99.9% purity, 750 means 75.0% purity, and so on. A stamp that says “GF” or “GP” indicates that the jewelry is gold-plated, which most cash for gold Corona locations won’t accept.

2. Do your research

First, look up the price of gold on an online resource. You will likely be offered less than the value that’s given online, but knowing the current price of gold will give you the knowledge base to judge if you’re getting a fair deal. Next, find a reputable buyer. In general, professional gold buyers will give you the best price for gold. Pawn shops, which are in the business of buying low and selling high, should be avoided. Once you compile a list of potential buyers, check their online reviews and Better Business Bureau ratings, if possible. This can help you avoid scams and direct you towards legitimate gold buyers.

3. Keep expectations realistic

Selling off your gold jewelry isn’t like winning the lottery. Gold buyers will deduct service fees and the cost of refining from their final offer, so you’ll probably end up with a modest profit at best. However, it’s a great way to make some pocket money when you need it. If you’re looking for a little extra cash or have an unexpected bill to pay, then you can get cash for your gold in Corona or other parts of Southern California.

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