Did You Know They Will Buy Your Gold? Visit the Panama City Location to Sell Your Gold.

With the price of gold at an all-time high, you may wonder if your unused items will give you some quick cash. There is no doubt that you've seen numerous advertisements telling you that selling gold is very profitable. Perhaps you have some gold scraps and are wondering how to sell gold simply and easily. You can contact us at Goldsmith Jewelry to get information on the selling of your gold. They can offer you top dollar for your unwanted gold and you will not have the need to send off your gold to someone who you do not know.  Gold buys can be done on site MON - FRI during regular business hours.  The following guide introduces you to the process and highlights the advantages of gold redemption.

All About Selling Gold:

Choosing your unwanted gold: Unwanted gold is a strange concept considering the value of this precious metal, but think of the average jewelry box. Among the shiny pieces worn all the time may be a few gold chains that are too tangled to be fixed, a solitary gold earring that has lost its mate and maybe a few gold links from an old watch band or a gold thimble that belonged to a great aunt or a distant cousin. This is scrap gold -- unused pieces of gold that aren't desirable in their present form. Gold buyers recycle gold by purchasing scrap gold and melting it to be used again. This gives producers, including jewelers, a fresh supply of gold minus the expense and environmental damage of mining it from the earth. This gold trade is great for everyone involved, as well as the planet.

How gold is measured: When you are looking for information about how to sell gold, it is important to understand that quantity and purity determine the value of gold. The quantity of a piece of gold is measured by weight in troy ounces or grams: one troy ounce equals 31.1034768 grams. The daily price given in the investment market is for one troy ounce of pure gold. The purity of gold is signified by its karat designation or fineness measurement. Pure gold is measured as 24-karat gold or as 1000 fineness. Pure gold is often too soft for craftsmen and manufactures to use, so it is alloyed with other metals to strengthen it. An alloy that is 75 percent gold is 18k gold or 750 fineness; 58.3 percent gold is 14k gold or 585 fineness; and 42 percent is 10k gold or 416 fine. Any alloy with a gold measurement lower than 10k cannot be sold as gold in the United States.

Gold-selling tips: Selling gold can seem overwhelming, but it can be simple when you follow these basic tips:

  • Check to see what materials you can redeem for cash. Many accept only gold, although some will accept other precious metals, like platinum.
  • Remember that the buyer offers the seller a lump-sum cash payment for an entire submission of scrap gold; the pieces are not valued individually.
  • Remove or have a jeweler remove gemstones, pearls and other decorative items from the pieces. The buyer often will make an offer based on the value of the gold only. The value of gemstones left on the jewelry may not be assessed.

Scrap gold for redemption: Many programs will accept any scrap gold you want to send them. Marketing concentrates on gold jewelry because that is what most people have. Great products for gold recycling include:

  • Gold rings, such as old wedding bands and class rings.
  • Gold chains that have broken or damaged links or can't be untangled.
  • Earrings without mates or with broken and lost clasps.
  • Old or damaged gold items that do not have sentimental value.
  • Coins that don't have substantial value for coin collectors.
  • Accessories, like tie tacks, cuff links and key chains.
  • Watches and watch bands, links, pocket watch fobs and chains.


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