Get Gold Appraisals
When you have a gold appraisal done, it is valuable to know how the appraisal value is arrived at. There are various appraisal methods, and you may have the item you are getting a gold appraisal valued differently by gold appraisers with different purposes.
First, you have to recognize the fact that if you bought the item at a jewelry retail store, even if you got it at a greatly reduced price, there is still a large markup. The jeweler is in business for a profit, and he did not give it to you at the reduced price for any other reason than to still make a healthy profit.
Even if you take this item back to the retailer, the gold jewelry appraisal will probably be based on a trade in value, so that he may sell you another item.
You may have a gold appraisal done by an estate buyer. Gold appraisals by these buyers may be for a cash offer from them, but you will find their appraisal value much lower than the retailer. This is because he must sell it to a buyer at a profit, who will then sell it, also making a profit.
If you have a gold jewelry appraisal done for insurance purposes, the gold appraiser will place a replacement value on the item. This is for the replacement of the item if it is lost or stolen. Quite often this will be the highest appraisal you will get, but it will come with a note that this is not an offer to buy.
Determine Gold Value
Gold coin appraisal is another tricky proposition. A collector may value these coins highly, but if the gold coin appraisal is done to determine the true value of the gold in the coin, it may be somewhat less than you would expect. Since a gold coin had to hold up under usage and handling, the percentage of gold in the coin is probably not going to be very high, as the higher the percentage of gold, the more mallable it is. A very high content of gold would have made the coin less durable.
A gold watch appraisal is based not only on the gold content, but on the workmanship, the brand of the watch, and the potential resale value. Here again, the gold content may be of less value than you thought it might be. For the watch to be appraised at a high value, it must be in good working order, and be a product of fine workmanship. Realize that a new Rolex will bring more than a used one.
Finally, there is a gold appraisal based on the melt value of jewelry. This really has nothing to do with a gold jewelry appraisal, but is an appraisal of gold worth that is actually in the item. This is based on a percentage of gold in the item. An item that is 24K gold is as close to 100% gold as is sold on the jewelry marketplace . 100% gold is not sold.
An item stamped 14K would contain 60% gold. Again, you cannot go by the stamp, as some makers will stamp 10K as 14k in order to make a profit. That is why it is necessary to have a gold appraisal done, even for scrap gold. If you have fine jewelry that you want to sell as a piece, this is not the type of gold jewelry appraisal that you want. However, if you have broken jewelry, or jewelry that you no longer want or need, and want to put some quick cash in your pocket, this may be the gold appraisal you need.
Of the companies that buy scrap gold, you need to seek out one that is reputable. Cash4Gold is one of the most reputable of these companies. It strives for and succeeds in having the highest possible standard for customer service. Customer service is available on a 24/7 basis. Cash4Gold is also committed to educating their customers, and the process for selling your gold is explained in a straightforward manner on their website.
You can contact them either by phone or on their website and request a Refiners Return Pack. This would then be sent to you from Cash4Gold and will include a letter from the CEO, a baggy for items and a chart/general information about the process. You put your items in the baggy, and return it to Cash4Gold in the preaddressed, preinsured envelope. This is insured up to $100. If you believe your jewelry or other items are worth more than $100.00, we recommend that you insure the shipment at your own expense using the carrier of your choice.
The items then arrive by armored truck to Cash4Gold, who ensures that all items on the list are in the package. There they will be photographed, weighed and appraised. An offer is then sent back to you in the form of a check. You then have 10 days in which to accept the offer by cashing the check, or decline the offer by calling Cash4Gold. In case of rejection of the offer, the items will then be returned to you.
The process is easy–Cash4Gold does all the work. If you accept the offer, all you have to do is cash the check, and your unwanted jewelry has gone to work for you rather than lying around the house unused.
Items that are typically sent to Cash4Gold include earrings, bracelets, necklaces, rings, class rings, lockets , broken jewelry, and old unattractive pieces of jewelry.
Watches are usually not sent to Cash4Gold, as the gold content is minimal. Estate buyers will typically pay more for valuable old watches.