Selling Gold Jewelry – Why Now is the Best Time

There is no better time than the present to be selling gold jewelry. Do you know why? In case you haven’t heard, you have been hiding under a rock somewhere, or you have been too busy obsessing over all of the bad news in the economy these days to pay attention to the good news, the price of gold is on a meteoric rise right now, worth well over $1,000 per ounce. That’s right, you read correctly: You should be selling gold jewelry now because it is worth well over $1,000 per ounce!

Gold has been on a consistent rise over the past decade, averaging well above 20% each year, the only exception being a 5.6% loss in 2008. Even in the year 2009, gold has managed to recover from the global economic crisis and rebound already, at a 23% increase from its 2008 levels!

So what does that tell you? It tells you that while the cyclical bubbles and busts, and the rise and fall of the dot coms, the rise and fall of real estate, the decline of the stock market, and the decline of the US dollar, have all proven to be altogether extremely volatile investment vehicles, the only stable investment vehicle throughout this entire period has been none other than gold.

So if you have been holding onto gold for a long time, now would be a good time to cash it in, if you are hard up for some cash as a result of this economic recession that we have all just been through.

So where should you be selling gold jewelry? And how can you be sure that you get the best price?

These are very good questions. The answer is two-fold:

1. You should avoid selling gold jewelry to a retail operation, a pawn-shop, or jewelry exchange. Essentially any type of direct-to-consumer retail operation is a bad idea. Why? Because they are in the business of flipping gold. They want to buy gold from you with the intention of reselling it right away, and earning a profit in the process. They basically are gold brokerages and wish to earn a commission using the old “buy low and sell high” strategy. So quite naturally, they would be dealing with tight profit margins and would not be able to offer you as much as you would deserve.

2. You should be selling your gold directly to a gold refinery because a gold refinery is in the business of acquiring gold, melting it down, and remanufacturing or redistributing gold raw material to be used for other purposes. There is no middle man. There is no flipping gold for profit. They are able to offer you a much better price for your gold because the profit margin in this type of situation is much greater. So it creates a win-win solution that satisfies both you and the refinery.