Trade in Precious Metal for Money

 During a time such as this, it is prudent to consider unused jewelry and precious treasure lying around in our houses that we sometimes do not realize how precious they are until the need arises. Those antiques, old coins, collectors’ items, watches, and jewels that you do not often wear or are not of sentimental value can heave you out of a financial ditch.

You need not worry, however, because there are companies that trade in precious metals like silver and gold from scrap jewelry and antiques or any valuable item you wish to sell. The company has in-house experts who are trained in metallurgy and using various technologies such as they can measure and give an exact value of your gold or silver.

The value of your jewels

You do not have to be certain whether your item is gold filled or silver plated, or the weight in gold. The buyer does this evaluation for you. Most jewelry is made out of alloys with silver or copper because of the malleability of gold in its pure form. Pure gold weighs about twenty-four karat. A karat is the measure of a precious metal, jewel or gemstone. An engraving of “999”, “.999”, or 24k on the piece indicates the purity. One karat is therefore approximately 0.042 percent purity. This standard is what is used to calculate the value of an alloyed piece. A 12 karat piece is therefore 50% pure.

If you wish to be sure of the value of your item, you can check for marks engraved on it.  The most common markings on pieces of jewelry in the United States are either 14k or 10k which is the lowest purity that one can sell in the US. Jewelry can be made out of silver alone. Most items are marked “sterling” or “925” with a purity of 92.5 percent which is common in items originating from England or 80% from Germany marked “800.”

What you can trade in

For gold, the buyer accepts unused or used jewelry in any condition, whether broken, twisted, or scrap. These include chains, rings, pendants, earrings, class or signet rings, award pins, charms, and bracelets. Coins and bullion (ingots) are also acceptable.

Silverware and jewelry are also acceptable in any condition. Tradable items include hollow and flatware such as candlesticks, vases, cutlery (platters, teapots, salt shakers, and trays). You may also sell your silver coins and collectors’ items.

Who to trade with

Not all gold and silver buyers are the same. There are those who pay more than others and do not short-change you for the correct value of your item. It is logical to go for highly rated places with some years of experience.

Experts opine that precious metals are a haven during times of economic crisis. It is for this reason that such companies exist. They are there to help during the financial turmoil, and a wise choice of where you can get the most out of your item is advisable.