The weight of precious metal jewelry is measured in one of two ways:
either in pennyweight (DWT) or in grams (GR). Don't let this confuse
you. An ounce of gold weighs either 20 pennyweights or 31.1grams.
The unit of measure used to value precious metals is a "troy
ounce". Every troy ounce of pure gold, platinum or silver
can be "diluted" or "alloyed" with other metals to make jewelry.
In the United States, gold jewelry is usually alloyed in 10
karat (kt), 14 kt, or 18kt. The higher the karat the higher
the level of pure gold your jewelry will yield. The percentage
of pure gold in 10kt is 41%, 14kt is 58.3% and 18kt is 75%.
So, when the price of pure gold is $800 per ounce, 10kt is
valued at $333/oz, 14kt is valued at $466/0z and 18kt is valued
at $600/oz. The actual price you can expect to receive will
depend on the quantity you are selling. However, if someone
offers you less than 50% of the above prices you should find
When selling your gold jewelry, you should expect to be told the
pennyweight or the gram weight of the piece(s) you are selling and
a price in dollars per pennyweight or gram the buyer is paying.
Example: 10.0 DWT bracelet multiplied by $15.00/DWT is priced at
$150 and the same bracelet weighed on a gram scale will weigh 15.0gr
multiplied by $10.00/GR and still priced at $150.
Every company buying gold should be willing to quote you their daily
price offering for the various karats and the price difference for
larger quantities. You should be wary of those who will not give
you a straight answer.
In today's marketplace it is easy to find buyers of precious metal
on the Internet or in your local area. If selecting your buyer involves
mailing your jewelry, be certain you are comfortable with the company's
policy for shipping and insurance before sending your valuables.
IMPORTANT: Be careful when doing business with a company that suggests
you send your valuables in a "kit' or an envelope and drop in a
mailbox!!! You are taking an unnecessary risk of loss or theft.
Regardless of how little you may be selling, I urge you to select
the company which offers FREE insured FedEx, UPS or DHL service.
This type of service offers you the best protection as well as providing
you a third-party tracking number which enables you to know when
the buyer has received your package.
I want you to receive the most money from the sale of your unwanted
gold jewelry. You should expect your transaction to be handled in
a safe and above board manner. how to sell gold jewelryUnfortunately,
anytime there appears to be an easy way to make a fast buck, dishonest
people get in the game. Sadly, that holds true for buyers of precious
The information I've provided should help you select the best company
to do business with, the company paying the highest prices, with
the most secure shipping methods and the fastest payment for your
Gold, Platinum and Silver. Choose GoldFellow.com to exceed your
Resource: Michael Gusky provides helpful industry insights into
selling jewelry and information about the benefit of jewelry industry.
To know more about pennyweight, How to sell gold jewelry, Sell scrap
gold visit www.goldfellow.com