Your Gold Jewelry (Even Broken) Is Worth Good Money -

Are you sitting on a gold mine without even realizing it? You are if you have gold jewelry you no longer want. That includes the broken chain you planned to have fixed some day or those spare earrings you’ve been hanging on to along with the hope that you’ll one day find the matching twin.

Gold prices have gone up significantly in recent years, and people are cashing in. According to Goldprice.com, the price of pure gold (24K) has increased by $130 an ounce. That can translate into a nice amount of cash for your unwanted gold jewelry. Many dealers also buy dental gold and gold coins. They sometimes even buy silver.

Gold Parties
When the price of gold started rising a few years ago, home parties became very popular. Much like a Tupperware or Mary Kay party, people host a party with a gold dealer and invite their friends to come sell their jewelry. It’s a win-win situation, because guests are making money instead of coming to buy something, and the hostess still makes a percentage of sales – the dealer’s sales.

By Mail
You can also sell your jewelry by mail. You may have already seen TV commercials for companies who will buy your gold. Many of these are legitimate businesses that will send you acheck or pay you through PayPal when you send them your gold.

Buyer Beware
Like anything else in life, there are precautions you should take to be sure you’re not getting scammed. Here are a few tips:

· Always get an estimate from one or two local jewelers before selling your gold to a dealer

· Don’t mail off your gold to a stranger. Get references from friends who have successfully sold their unwanted gold jewelry. The same goes for parties – especially in your own home. Financial guru Dave Ramsey endorse Gold Stash for Cash. Jodi Furman of Live FabuLESS also works with a dealer she highly recommends.

· Remember that the price per ounce is for pure gold. If you are selling 10K or 14K, your gold is usually worth between a third and half the value of pure gold because of fillers used to make your jewelry.

· Do not buy gold jewelry at the jewelry store with the intention of reselling it for profit. Jewelry stores mark up their gold by huge margins.

Start rounding up those broken chains and other spare jewelry. It could pay for your next vacation.