There are some important things to remember as you try to sell your gold and silver jewelry if you want to get the most cash.

- check the price of gold or silver
- be aware of the karat marks on your jewelry
- go to more than one shop to get estimates
- the buyer should know how to test the purity

There are some things you should know before you go out to sell your gold or silver jewelry. Although you want to get the most cash possible, you also need to know some basics so you will not get ripped off. But you also need to know what is reasonable to expect. Gold and silver buyers are in business to help you get cash for your jewelry, but the buyer has to make enough money to make it worth his time.

Check the price of gold or silver
Before you go out looking for someone to buy your jewelry, you should check the price of gold and/or silver. Be aware that nobody is going to pay you the strike price of a precious metal. The law often requires the gold or silver buyer to hold your jewelry for 30 days before they can sell it to a smelter. The way prices change, your buyer could actually lose money. The price of gold fell over $100 per ounce one week in recent years - an honest buyer could lose a lot of money with a decline in value. The buyer also must pay a percentage fee on all gold and silver that he takes to be the gold refiner. So you can see, there are plenty of reasons why the buyer cannot pay you the full price.

Be aware of the karat marks on your jewelry
Take a close look at your jewellery to see the karat marks: 12k, 14k, or higher. If you cannot find a karat mark you might be dealing with jewellery that is not solid gold, but has a gold plating. Most buyers will not pay much for this jewellery and might NOT buy it at all - it is far too risky. There is no good way to measure the exact amount of gold in plated jewellery. Some gold jewellery made overseas will not have any karat mark. A good buyer should be able to test this gold to find out it's value, but please do not get angry or overly disappointed if a buyer does not want to buy such jewellery.

Go to more than one shop to get estimates
Do not be afraid to get more than one estimate for your gold or silver jewelry. Just like selling ANY item, different buyers will be willing to pay different prices. When you get an estimate from a shop, make sure they write the price down with a date for how long they will honor their estimate. Again, you must remember that every buyer must make money on the purchase. Even with a written estimate there is typically a time limit - the strike price of gold or silver could drop significantly in one day and a buyer cannot be expected to simply break even or lose money! A buyer might give you a price, but if you go to another buyer he might not accept a price from another buyer if it is not written down.

The buyer should know how to test the purity
Make sure your gold buyer tests the gold or silver for purity. He should test it to know how many karats it is AND he should weigh the jewelry to know how many grams it is. Honest buyers will tell you what you have, then give you the amount of cash they are willing to pay. Do not get greedy. If you demand too much cash a buyer can easily say "no," then you walk away with NO CASH.