Glad You Asked

I have lots of gold jewelry I’d like to sell. Should I send it to one of those companies I see on TV—the ones that advertise cash for old or broken gold jewelry?

—Peg R., Santa Fe, NM

TV companies generally offer less for your gold then you could get from a local jeweler or online gold buyer. Your best bet is to take your old gold to a reputable jeweler for an appraisal. Find out the carat of the metal, and ask the jeweler to tell you the weight in pennyweights or troy ounces. You can use an online calculator such as www.dendritics.com/scales/metal-calc.asp to find out the value based on the price of gold that day. Then quickly (because the value fluctuates) call several jewelry or coin shops to find out how much they pay for gold. Aim to get about 85% of what you calculated your gold is worth.

Recent Questions

• Glad You Asked
• Glad You Asked Archives
• Submit a Question