Thinking Of Selling An Old Gold Ring? What You Should Know Beforehand

Do you have an old gold engagement ring you would no longer like to keep around? The official wedding may have never occurred due to certain circumstances and the ring may be a painful reminder of an old relationship you'd like to forget. Choosing to sell the gold ring to a gold buyer may be in your best interest because you'll get to part with the ring and receive some cash in exchange, making it worth your while.

Determine the Value of the Ring

Before you sell a valuable ring to a gold buyer, you should know more about the ring and its value to make sure you're getting the right amount for the item you're selling. It's helpful to know the pennyweight of the ring to know its overall value. The value of the gold is determined by a few different factors, including the pennyweight, gold purity percentage, and the current price for gold. As you may know, the price for gold does fluctuate and is more valuable at certain times. It's always better to make a sale when the price for gold is on the rise because then it may be possible for you to get a bit more for it.

Bring the Ring to the Gold Buyer

Once you know the complete value of the engagement ring, you can bring it to the gold buyer to have him or her examine the ring. The gold buyer may then make a specific offer after carefully looking at the ring and using assorted tools to ensure it's real, such as a magnifying glass to check for purity engravings, a magnet to make sure the gold doesn't stick since real gold isn't magnetic, or even a gold testing machine.

The gold buyer can make an offer and you may be able to negotiate the price if you believe the piece is worth a bit more than you're being offered. However, a reasonable, professional gold buyer will make an unbeatable offer and will make sure you're satisfied with the amount of money you'll receive for the ring.

If you have an engagement ring that you don't want to keep because the wedding never happened, and the relationship ended long ago, you may want to sell it to get rid of those painful memories and get some quick cash. Before you sell the ring, find out how much its worth based on its purity and pennyweight. After you find out this information, bring the ring to a gold buyer, such as at Beaverton Coin & Currency, who can make you an offer.