About Me

Creating Gorgeous Home Decor

After I bought a home, I realized that I wanted the interior to be warm and beautiful, just like my parent's home was. However, I knew that since my budget was limited, it was going to be hard to create gorgeous wreaths and holiday decorations. Fortunately, I was determined, so I headed to the craft store. I picked up some sturdy wreath forms and a few items that I thought would make my home truly special. As I worked with my hands, I was amazed at how well my projects came along. This blog is here to help other crafters to know where to start, so that you can make your place beautiful too.

Creating Gorgeous Home Decor

Three Tips To Getting Top Dollar For Your Gold And Silver

by Elisa Rodriguez

If you collect precious metals, such as gold and silver, as an investment or as a hobby, eventually you may want to sell part of your collection. With so many places offering to buy gold and silver, getting the best offer can be tricky. Follow these simple tips to ensure that you get a fair price for your gold and silver so that you maximize your profit.

1. Know when a piece is more valuable in its present form

Collectors of precious metals often collect coins or jewelry with gold or silver in them. These items can eventually be melted down for scrap value. However, some of these pieces may be more valuable when left intact. For example, it might make sense to sell a rare or extremely collectible coin in its current form.

Selling antique jewelry is another instance when it may be better to keep the item as is. Make sure to get an appraisal before selling your item so that you know what it is worth.

2. Sell your gold and silver to the right company.

Though it may be convenient to mail your gold and silver to a company that promises to purchase your precious metals and send you a check, you pay a price for this convenience. Companies who purchase gold and silver through the mail often only pay 11 to 29 percent of the metal's meltdown value.

Instead, stop by your local jewelry or coin store. These retailers often pay 70 percent of the metal's value. It is advisable to get multiple offers from several different establishments to ensure that you get the best price possible. If possible, try to get the offers on the same day, as the price of precious metals can wildly fluctuate from day to day.

3. Sell gold jewelry of different karats separately.

By itself, gold is too soft for use in jewelry making. Instead, it is combined with other metals to increase the strength and durability. The karat of the jewelry helps individuals identify how much of the piece is gold. There are 24 possible karats, with 24 karat gold being pure gold. For example, an item that is 14 karat gold has 14 parts gold and 10 parts other precious metals. 

When selling your jewelry, have items that are the same karat weighed together. Some gold buyers may try to weigh everything together and make an offer based on the lowest karat weight, resulting in a significantly lower offer.

If it is time to sell your gold and silver, you want to get an optimal return on your investment. Understanding where and how to sell your precious metals helps you get a fair price so that more money goes into your pocket. Contact gold and silver buyers near you for more information.