How and where do you get the best price for broken gold jewelry?

Question

I have several broken gold chains, bracelets, dental gold, and mismatched earrings and would like to get cash for the gold. I know I could take it to a pawn broker, but I'm not sure if this is the best way to turn the gold into cash. Any ideas?

Answer 1

If you choose to sell your gold as scrap, please do not use one of the outfits that advertise on TV--they will not give you the best price because they are marketing their services to the general public and not to in-the-trade individuals who are more knowledgeable.

Send your gold to a reputable refiner. There are several who offer refining services to the jewelry, dental, etc. industries and that is where you would get the fairest shake for your scrap.

I've used David H. Fell & Co. in Los Angeles for years. They are a very reputable company with a good history and a well set-up refining service. See the link below.

If you sold your scrap gold to a jeweler, they would turn around and submit it to just such a refiner. A reputable jeweler would not reuse your gold because he would not be able to determine that it was within the legal variance limits of the karat value it was represented/hallmarked as. He would instead turn it into a refiner either for money or on account to be reimbursed with newly refined gold. Obviously, the price the jeweler would pay you would be less than what he received from the refiner.

Answer 2

as previously stated the resale value of gold is not really that high but there is probably one solution to this.
There is a ad that has been on televison for this.
if you go to www.goldkit.com or call the following number 1-800-GOLDKIT.
The company we give you a prepaid envelope where you can put all you scrap gold as it is commonly called in this industry and after the company makes the determination of how much your scrap is worth they will send you a check for whatever they deem your gold to be worh.
Hope this information helps you

Answer 3

Sometimes jewelry stores will buy your broken gold, or you will often see in the paper an ad for someone who says will buy old coins, estate, jewelry, etc. I think the price will be pretty much the same wherever you go though.

Answer 4

Sorry to tell you but the resale for jewelry is horrible. If you want to get even close to the amount you paid for it you will have to sell it to a private person. What i would suggest is to bring the broken jewelery into the local big name jeweler and tell them you bought it here and it broke. They will fix it for free without questions if there a reputable jeweler. As for the rest get what you can for it.

Answer 5

Properly weigh it in grams, describe it very well, sell it on ebay.

Unless you are a first time seller [with no proven track record] it should sell for @ the current spot price of gold.