Everyone can use a little extra cash. Selling unwanted belongings allows people to rid themselves of items they do not need while getting closer to their financial goals. There is something many people have that can earn them a substantial payday without much effort. Gold continues to command impressive prices in Texas, but it helps when people understand which pieces will get them the payout they want.

Find Unwanted Gold

Look for gold in expected places around the home, like old jewelry boxes. Even broken jewelry will sell if it is gold. Do not forget to look in attics, basements, and storage areas for forgotten inherited collections from parents or grandparents. Flea markets, yard sales, junk, and antique shops can also offer potential. Estate sales may also provide many valuable options. Learn the methods of determining if the items for sale are gold plates or gold-filled pieces before spending much money on them or taking them to the best place to sell gold.

Know the Market

Gold has been used as a form of currency for thousands of years. Detailed records of its value over the last century show the market experienced some ups and downs but consistently rose in value. Selling gold for profit relies on the weight of the item. For this reason, the most desirable gold items are gold-filled. Dallas gold and silver buyers will also buy solid gold items and often consider some gold-plated pieces if the base metal also has value.

Learn the Difference 

It saves time if people know what they have before visiting a gold and silver exchange. This skill will ensure the trip to the shop will earn the most profit possible. Gold-plated items can feel heavy and look beautiful if the coating covers a heavy metal. The gold content in plated pieces is so minimal it is not measurable or desirable to a buyer. If the base metal has no value, the buyer will not want it. 

Gold-filled items are thicker layers of gold around another less valuable metal. Check stamps or engravings on the jewelry to determine when a piece meets this standard. Gold items will have 12K, 14K, or 18K markings that show it is either solid gold or gold-filled. Markings that have a K and the letters GP after are gold plated. Most other testing methods use invasive techniques, so people must own the jewelry and know the risks involved. 

Avoid Expensive Mistakes

Vintage costume jewelry can have value despite the lack of stamps or other marks. Some jewelry may not have a high gold content, but the maker or the gems make it desirable to buyers. Other metals may also have value, so do not only focus on the gold in a piece. 

When entering a shop that offers cash for gold, review its reputation first. Make sure to have enough time for weighing and testing. Know if the gems in the item have value, and decide before going in if the sale will include them or if they will come out for sale or use elsewhere. Choose only buyers that offer a free estimate of the value and what they will pay. Know that the amount the buyer will pay for gold is not market value because they also need to make a profit.

Avoid Wasting Time

Avoid online buying and selling. The only way to know how much an item is worth is by verifying the metal content and weighing the piece. All other pricing is an estimate based on what someone thinks they have. Take the time to clean and repair jewelry only if selling to a pawnshop, jewelry shop, or private buyer. These places often offer a higher price when the jewelry looks its best. 

Places that advertise themselves as where we buy gold for cash are less concerned with the appearance of the items they want. These shops care about the value of the gold, silver, or other metals they purchase. Some also buy gems in setting or loose. They will perform any repairs or cleaning if they decide to resell the item.

Selling unwanted gold can help people make money on something that would otherwise clutter their homes. Those who know how to detect genuine metals and gems can earn extra cash by searching underpriced asking prices on misidentified items. Gold buyers in Texas provide their customers with a simple cash transaction that takes place at the customer’s pace. Find out more today.

With almost 40 years of experience in the business, Alliance Gold and Silver Exchange offers a customer-friendly place for people to sell their gold, other metals, and diamonds. We provide reliable valuations, free estimates, and a no-pressure environment.