Aug 27, 2013 1:47 am
Gold is one of the most sought after renewable resources on Earth. With rising gold prices, it's sensible to look into selling your unwanted gold jewelry.
Ever since the days of Egypt's Valley of the Kings, gold has been prized as the ultimate precious metal. However, most people are unclear about how their gold "weighs in" on today's marketplace. The main reason is that gold items vary greatly in purity. Typically, the content of these items are indicated by a manufactures carat engraving. The amount of karats can range from 0 to 14 to 18 to 24; 24 being pure gold.
When purchasing gold jewelry, it's essential to make an informed decision, too. After all, some jewelry is worth more than its weight in gold. It's recommended to not make any hasty decisions about purchasing trendy watches or timepieces. Heavy, thick yellow gold chains were all the rage back in the 70's. However, despite their heavy gold content, they are relatively an undesirable fashion accessory these days. Likewise, some of today's hottest fashions will inevitably grow out of favor ten or twenty years down the road.
If you are selling gold in New York on a classified site such as Craigslist it's important to exercise caution and common sense. One of the most overlooked aspects of jewelry is the labeling system. For example, a 14 karat necklace isn't always labeled as 16k; another common denomination for this purity is 14/24.
It's important to bear this in mind so you don't unknowingly advertise it as 24 carat jewelry. Such false advertising can have serious legal repercussions. This is especially true if you're selling in bulk.
Many gold buying companies are successful due to their large advertising expenditure. Since the 1950's, surveys have shown that Americans are more trusting of products that are advertised over TV or radio. By buying into this naivety you can lose out on a lot of potential cash for your jewelry; be it resale or gold meltdown.
Window shoppers rejoice! Whether you're paruzing the Upper East Side of NYC or a tourist on the fifth avenue strip, the New York area offers a plethora of great options for selling your unwanted gold jewelry. Unlike mail-in or online services you won't have to pay a premium for convenience or shipping and handling fees.
Global Gold & Silver is closed today for vacation.