Have Any of You Sold Your Old Gold Jewerly?

I, too, had a good experience at a local family-owned jewelry shop where I occasionally do business. I didn't even bother to price-shop at other stores. I know that they have to make money off of the deal, but I also know they're not going to rip me off at the risk of losing me as a customer.

you will never see the value of your gold if you sell it this way. I would save it & have a custom piece made from it....

I had a pretty good experience selling my gold. You will get the best deal on 18+K gold. I live in Houston and drove up and down Westheimer to every jewelry store (about 10 of them). We drove back to the one who gave us the highest offer and lo and behold, their offer went down $100 (this was 2 hours later). So we drove to the 2nd highest offer and he gave us cash for 4 necklaces, 3 rings and a watch - about $350! Not bad for pieces just sitting around. Most of them were either gifts or passed down.

One of my good friends is a jeweler and he is always telling people to not sell their jewery for just the gold. He says you will NEVER get what it's truely worth. When anyone buys gold from you you get it at what's called a salvage price. That is the very minimum amount you can legally get. My friend says the best way to get more bang for your buck is to either sell the jewery on the internet or have it melted down and made into something else. Unless you don't care that your getting pennies on the dollar for your gold, I wouldn't recommend selling it.

I sold some to a local small town jeweler. I know him to be an honest person. I know that he will make more than what he gave me for it, but that is how he makes his living. I sold a gold wedding band and got $80 and that was about 4 years ago. Since then the price of gold has gone up. You can always take it in and ask. If you don't like the price you don't have to sell it to them. I would also suggest taking it to more than one place to get a quote.

You are going to get ripped off, you need to accept that. How badly you get ripped off depends on where you take it. Try to find a small mom and pop type jewelry store. Thing is there is no other market for small bits of gold and they have to buy it low enough that they can melt it down to make new products with it and still make a profit.

So don't weigh your gold and expect spot price for it, that won't happen.

I gathered up stuff from high school and college that i NEVER wear and that didn't have sentimental value to me. I also had some broken chains... i sold it at the Gold Buyers place in the mall and got almost $300. it's more than you would get at a pawn shop and it's for stuff i was never going to wear again and that was outdated. i think it's a good deal if you're not parting with something that isn't meaningful to you. weigh your options... and good luck!

Yes, I did sell some gold odds and ends about 6 months ago. I didn't need the money to put food on the table put just came across several thin broken chains and other pieces I never intended to wear. Gold was at about $1200/oz at the time. Of course you don't get that price but the price I got was decent based on the various estimated I rec'd. I was pleasantly surprised. If you are going to do it, this is the time. Buy low, sell high....and it's at record highs right now.

Shop around and get several estimates. I eventually found myself at a local, independently owned coin shop. He was the one who gave me the best price by far.

Good luck and enjoy the extra cash!

I recently sold some of our old jewelry to a jeweler in our town who has been doing business here for 60 years. I felt the chance of getting ripped off but someone like that would be slim since he would have to deal with the fallout of any unfair practices. We had a small bag, maybe 2 rope chains, 2 broken necklaces, 3 rings I'd never liked anyway and I think a rope bracelet and got $900. I about fell on the floor!!! Gold is at an all time high so go for it! :)