If you've been saving old jewelry that has been handed down or even pieces you bought yourself but don't wear anymore because fashion has changed don't overlook what could be a literal gold mine. Old jewelry, even 14-karat jewelry, has value and to an online gold buyer is worth paying out impressive cash amounts. With money tight people are looking for ways to turn assets into profits and with old gold and silver jewelry you may have a quick cash payout for items you thought were worthless.

Online gold buyers offer cash for many precious metals including gold coins, bullion and bars, scrap metals and of course jewelry. Earrings, bracelets, chains, necklaces, watches and rings that are made of gold have a value based on the purity of the gold and current price for gold on the commodities market. Gold varies in value depending on the purity of the gold which is measured in karats. 24-karat is pure gold while 10-karat has some gold in but uses other metals and bonding agents to round out the jewelry piece. Once the karat has been accurately determined then your gold payout is based on the current price of gold. This price changes daily but you can always find the price of gold on any stock market by checking it on an online business site.

Keepsakes, heirlooms and hand-me-downs all have a habit of collecting dust in an attic or basement. Often we are given old boxes containing what looks to be decaying metal and junk but really could be a treasure trove of precious metals that simply need a good polishing and expert appraisal to realize true potential. You may have rare coins, real gold jewelry or sterling silver serving ware sets that after appraisal could net you a couple of hundred or even thousands of dollars depending on the purity of the metal.

Once you've determined that your old jewelry or even rare coins have a value you are then ready to market your gold online to gold buyers. It's best to have all your potential gold and silver appraised first since it will spare you the time and money of mailing in items to a gold buyer and then find out it is worthless. When you know the value of your gold beforehand there is less likely a chance of being misled or short-changed on the cash payout.

A few things to keep in mind prior to selling gold on line include: never try to sell gold jewelry that is less than 10-karats as it is illegal to sell gold that is less than 10k; most real gold jewelry has the karat value stamped on it so if you can't locate the karat value chances are it is not real gold; consider the design and craftsmanship of the jewelry before piling it all together and selling as scrap metal since you will lose value if you sell gold jewelry as scrap when it could be marketed for its exceptional design or particular craftsman. Scrap dealers consider the value of the metal only and if you have a 12-karat gold watch it won't be worth much for the gold but the designer may be of importance and can fetch a higher rate. Knowing as much as possible about your gold will help you market it online successfully.

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