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!
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.
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:
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.
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.
BUY STERLING SILVER JEWELRY AND OTHER SILVER
When buying silver it is done just as the gold shown above but of course silver percentages are a little different, we only buy silver that is as shown below:
- .950 Silver
- .925 Silver which most people know as sterling and most silver jewelry is made out of
- .900 Silver
- .850 Silver
- .800 SIlver