Do you have jewelry, or other precious metal items you wish to sell? Take some time to do your homework. The more you educate yourself about what you can expect to be paid, the less likely you are to be underpaid. We buy gold, silver, platinum, jewelry, silverware, and more. Check our full list of what we buy on the What We Buy page.
Determine approximately how much your jewelry is worth with just a few easy steps:
Step 1: Weigh Your Item
Jewelry value is based on weight and karat. Determine the weight of your jewelry piece using a scale that measures in grams (or, convert the weight to grams using an online conversion tool). While this might seem tedious, it is extremely important to know exactly what the total weight of an item is before trying to sell it to a dealer or third party.
Step 2: Find Current Spot Price
Find the price of gold/silver/platinum per troy ounce using our “Daily Spot Prices” feature on our home page. A troy ounce equals 31.1 grams. Divide the spot metal price by 31.1 to determine the base price per gram.
Step 3: Do you know your Karat?
The karat of your gold will also be a determining factor in its value. The higher the karat, the more you will be paid per gram. If you do not know the Karat, you can bring it in and we can test it for you right on the counter.
Step 4: Calculate Value
Once you know the weight of your item, the karat of your item, the daily spot prices, you are ready to make your final value calculation. You will multiply the weight in grams by the karat factor (10 karat = .417, 14 karat = .583, 18 karat = .750, and 21 karat = .875). There is often solder and other material present in jewelry, which can affect the purity. In addition, by law, all jewelry stamped with a karat stamp is legally 1/2 karat less than stamped. Take your new figure and divide by 31.1. This figure will then be multiplied by a percentage factor, depending on what precious metal and type of item you have (typically between 75% – 100%). That figure is then multiplied by the spot market metal price for the day.
Step 5: Choosing a Buyer
Once you have determined the weight and karat factor of your gold or silver items, you are ready to call various buyers and ask them how much they are paying per gram of 10k, 14k, 18k, 21k or 24k gold, and what they are paying per gram of sterling silver or platinum if your items contain these metals. Determine which company is giving you the highest quote. If a business refuses to give you a verbal quote over the telephone, rest assured that they are not paying a fair price. We always give quotes over the telephone, because we know that we are the highest buyers!
Go online and check reviews of the businesses you have called. These ratings and reviews are very helpful to the novice seller. Read them carefully. But keep in mind that, as Abraham Lincoln once said, “You can please all of the people some of the time, and some of the people all of the time, but you can’t please all of the people all of the time!”
Call us at (505) 888-GOLD (4653) for a verbal quote on the percentage factor mentioned above.