If you have old gold jewelry lying around, then you could be thinking about selling it so that you can make some money. If this is the case, then you might be wondering which option you should use for selling it. For example, you might know that you have a few options to look into, such as looking for a private buyer, selling to a pawn shop or selling to a gold buyer. The best option for you depends on the answers that you give to a few questions. These are some of the questions that you can ask yourself when deciding how to sell your old gold jewelry.

Is the Jewelry in Good Condition?

First of all, you should consider the condition of your jewelry. If your jewelry is in good condition, then you might be able to get more money for it by selling it to a private buyer or to a jeweler. This is particularly true if the jewelry features diamonds or other stones. If your jewelry isn't in good condition, however, there is a good chance that most people will not want to buy it. If your jewelry doesn't look good, however, you can generally still sell it to a gold buyer, who will purchase it for the weight.

Are You Willing to Wait for Your Cash?

Another thing that you should think about is how long you are willing to wait for your cash. If you need money right away, then you might not have time to wait to find a private buyer. In this type of situation, selling to a local gold dealer or to a pawnbroker can be a good way to get money immediately. If you are willing to wait a while to get paid, however, you can take the time to try to find a private buyer.

Do You Want to Get the Most Money Possible?

Gold dealers have to make money, so they will only pay you a certain amount for your gold. These rates can often be quite competitive, but you might not get as much as you would from a private buyer who is truly interested in wearing your piece of jewelry. If you want to get the most money possible, you may want to look into a couple of options so that you can see how you can get the most cash for your pieces. Otherwise, you may just want to choose the option that is more convenient for you, such as by selling to a local gold buyer who will weigh out your gold and hand you your cash. 

For more information and tips on how to sell gold, contact a local gold specialist.