Planning for Your Child’s Future

Why You Should Have An Appraisal Before Selling Your Gold

Selling your gold may be the ideal way to handle finances. You may need to pay for an unexpected expense or to fund a retirement related goal. Regardless of the reason, one of your options for selling gold is to sell your gold jewelry. This can be in pieces or in scrap form. Before you sell, however, you should have it appraised. Here are a few of the reasons why.

Karat Amount

One of the key points to understanding the worth of your gold before selling it is to know the karat amount. In  most cases, you will know. However, there are some pieces of jewelry that may not have a stamped karat weight or the stamp has worn off. A gold jewelry appraiser can determine what karat weight your jewelry is. They can then fill out a certificate of appraisal showing if the jewelry piece is 10, 14, or 24 karat gold. This will be indicated by the number followed by kt. 

Weight of Piece

The weight of the piece or the gold is different from the karat weight. The weight will tell the appraiser and the gold buyer how much the gold you have weighs. You will need to know this to determine roughly how much your piece of gold is worth. If you are following the gold market prices you can relate how much you may receive from the gold buyer by the karat weight and the actual weight of the gold. 

Gemstone Worth

You may have several pieces of gold jewelry that contain stones. Examples of this are pendants or rings. If the stone is real and valuable you may want to have it removed from the gold prior to selling. You may also want to determine the value of the gemstone as well. Once the stone has been appraised and removed from the jewelry, you can have the appraisal done for the gold. This will give you two or more certificates of appraisal depending on how many gemstones were in the piece. 

These are just a few of the reasons to have your gold appraised before selling to a gold buyer. When you have had the appraisal done and you are ready to sell your gold jewelry pieces, contact your local gold buyer. They can evaluate the pieces of gold you have and determine the amount of worth. By having an apprasial done prior to selling, you can watch the gold prices and determine when the best time to sell gold would be.