Here’s How To Sell Your Jewelry
Figure out what jewelry you want to sell. Who needs one mismatched earring or broken necklace?
*We provide this information to help our clients be knowledgeable about the gold that they own. If you don’t want to go through all these steps, we will go through them with you at our location. Once you figure out the weight of your gold or silver, you can always just give us a call and we will give you a quote over the phone!
1 If you can, get the weight of your item. Everything in the precious metals industry is in troy ounces, not regular ounces. The conversion from regular ounces to troy ounces is 1oz to .911 troy oz. Once you get the troy ounce weight you can break it down into pennyweights and grams. A pennyweight is 1/20 of a troy ounce, where a gram is 1/31.1 of a troy ounce. Here at Alexandria Gold and Silver we weigh in pennyweights. (20 pennyweights = 1 troy ounce, 31.1 grams = 1 troy ounce)
2.1 oz (on your bathroom or postal scale) = 1.91 troy ounces = 38.2 dwt (pennyweight) or 59.4 grams
*If you do not have a scale or do not want to figure out the weight of your item, we would be happy to weigh it for you; our scales are certified by the Department of Agriculture every year.
2 Next, get a magnifying glass or jeweler’s loop if you can find one. Look at the markings inside of the rings and on the clasps of necklaces and bracelets. You will see two representations of the gold content, either as a number or a karat. The number represents a karat and vice versa, but each gives you the amount of gold in any given item. Here is a breakdown:
|Karat||Percentage of Gold|
Separate each piece into the karat groups and weigh those groups individually.
If a piece of jewelry is not marked still bring it in for testing. I had a woman bring in a “costume jewelry” necklace she had bought at an estate sale that ended up being worth $5,000.
3 Do your research, call around. Give us a call; unlike a lot of the other dealers, we will give you a quote per pennyweight or gram on the phone. You will figure out pretty quickly that what people are willing to pay for your gold varies a great deal.
Using the before mentioned weights in the Example above, here is what we would pay:
You have 38.2 dwt of gold jewelry which broke down into three Karat groups:
25.0 dwt 14k
5.1 dwt 18k
8.1 dwt 10k
Using the gold price (in the chart to the right, above the silver price), let’s take a look at the 14k group and how we would price it out:
Gold from the chart * 56 % ( what 14k melts for after impurities, minute content differences) * 90% (what percentage we pay you)
= Per Troy Ounce Price
The Troy Ounce Price is then divided by 20 to get your pennyweight price for 14k
= Per Pennyweight (dwt) Price
We then multiply the Per Pennyweight Price of your Karat group by the weight of the group and get
= What we will pay you for your 14k Karat group
The other two groups would be calculated the same, the only variable is the karat.
Come visit us!
We are in a secure building with property surveillance, and we also have independent surveillance and security in our office. We are a safe, discrete way to sell your gold. We are also available to accompany you from your car to our office if you need assistance getting things inside.
When you get here we will weigh your items in their respective Karat groups and test for consistency where appropriate. Everything is done right in front of you; many people find the whole process interesting. Feel free to ask questions!
We will then give you a price of what your items are worth. We pay 90% on all gold jewelry, and we encourage you to call around to see that we are the best!
How Can We Pay So Much?
Why Use Alexandria Gold and Silver?
We are only precious metals dealers. Our price structure does not change.
Alexandria Gold and Silver is constantly buying and selling, allowing us to maintain a position in gold that minimizes our exposure to market fluctuations. Buying jewelry is only a part of what we do, but it is an important part of our business model and we need to pay the highest prices, consistently, to help maintain that position.