Cash Now 4 Gold, Cash for Gold

Feb. 1, 2009 - PRLog -- Cash for Gold prices have shot up to more than $900 an ounce, which means you can unload unwanted bling at a profit — if you do it right. Check your drawers and jewelry box for plain chains, rings, and bracelets. "Gold 4 Cash buyers usually don't care about the workmanship," says Leigh Leshner, author of Secrets to Collecting Jewelry. "They're just going to melt it down." Find a specialty or estate jeweler for a unique piece; you'll get closer to full value for it.

Steer clear of gold-buying companies advertising on TV or online. They offer little recourse to reject their bid. Also, be cautious about at-home gold-selling parties. They don't give you the chance to shop around for the best price.

Instead, look in the yellow pages for jewelers who buy gold. Ask about their commissions and how they set offers. Then start collecting bids. Because most gold for Cash jewelry is 10 or 14 karats, offers may be below the market price for gold, measured in 24 karats. "A 14-karat piece is only 58 percent gold," notes El Paso, TX-based jeweler Susan Eisen. So a heavy 14-karat-gold necklace might fetch under $600. A fair offer should be at least 90 percent of the market price, adjusted for gold content.

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