Selling Old Gold Jewelry

Updated on May 14, 2011
T.U. asks from Minneapolis, MN
8 answers

Hi moms! I keep hearing/seeing these commercials for selling gold to various jewelers/sources. I have misc gold jewelry that I no longer like or is broken. So, I figure maybe look into selling it. After all, any extra money is a good thing. Has anyone done this or had luck in selling their old gold jewelry? If so, who & where did you go to? I'm not even sure what to expect, just don't want to get rip off. Any help would be great, thanks!

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N.R.

answers from Boston on

I went to a local family owned jeweler. I got $860.00 for my unwanted gold. I would ask around to find a local family owned jewelry store.
Good luck.

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A.C.

answers from Minneapolis on

I used to work at Diamonds and Gold in St. Louis Park in the Miracle Mile Shopping Center on Excelsior Blvd. (right by Highway 100). They used to be located in Robbinsdale for many years. I've been close friends with the owner, David, for about 15 years and can vouch for him and his store. (He designed my wedding ring.) They buy gold and give a good price for it. If anything has a stone in it, they will let you know what it is. If it's valuable, they recommend having it taken out for you to keep. They're also very sensitive to whether something has sentimental value. (Grandma's diamond, for example.) VERY honest. I'd highly recommend going there. I send all my friends to him for repairs, purchases, etc. It's a nice store, too, not some seedy storefront in the middle of nowhere.

H.S.

answers from Cincinnati on

Last year I was heading to the mall and knew of a place that had just opened and thought I'd give it a try. I took in some random old earrings, and a few rings, all of which I could hold in my one hand, and thought it would be nice to get $50-$70 extra bucks for a pedicure or whatever. Once the guy weighed everything and said he could offer me $272, I couldn't believe it! The prices of gold fluctuate every day so look online to see when it reaches a good high point and take your stuff in!

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K.H.

answers from Minneapolis on

DO NOT MAIL it in-had a couple ppl i know do this-they never heard or saw anything back-go to your local jewelry store-or pawn shop-where you can see them weigh it and get your cash right there.if any of your stuff has stones in it-diamonds etc.take them out-you dont get any extra for them-and youd just be giving them priceless stones for free.you can save them an use them in a different setting down the road.good luck

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C.F.

answers from Milwaukee on

I sold gold at a local jeweler. Don't send it through the mail. You can go and get estimates and pick the higher price. I got $130.00 for one necklace. I traded in 2 silver coins and got $65.00. The price of silver was the highest it's ever been. While I was there a lady sold a silver fork and spoon set and got over $1000.00 for it.

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K.S.

answers from Green Bay on

I'd like to know, too. I would never mail it to anyone, but would like to know which kind of local merchants deal with this.

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D.N.

answers from Chicago on

I have looked into it and from professional recommends, do not use one of the mail things.They take your gold and send you a check. you have no say so in rejecting their offers. A professional jeweler is the best place to go. The advice was to go to at least 3 reputable jewelers before deciding. And of course, you have to take into account the amount of gold in the piece, 24k has more than 14k. And if you have anything with diamonds, it will be priced really low so better to ask about the diamond removed.

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A.L.

answers from Charleston on

Go to a reputable jeweler in your area and get your items appraised to see what it's worth. Most jewelers will buy it from you. I would never send my stuff to one of those mail places. I did this about a year ago, and got over $600 for a small handful of miscellaneous gold jewelry. Good luck!

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