Economic downturns are usually indicators of a good time to recycle or to sell old gold jewelry.  This is due to the fact that gold has the tendency to appreciate in value whenever the economy is performing badly.  Over the past couple of years, while the world is reeling from the effects of a long economic recession, gold prices have risen by approximately 70%.  Although it has slightly dipped since registering record heights, the value of gold is still very substantial.
And gold is extremely recyclable.  In fact, not an ounce of it goes to waste and gold recycling has been done since ancient times.  Once it is mined, it never goes back to the ground as it is repeatedly used – from the economical gold trinkets to fine and very expensive jewelry to solid gold coins to gold used in dentistry – name it, gold has been part of it.  It is safe to say that in this lifetime, gold will never run out of use.  You will always be able to get fast cash for gold.
How to Sell Old Gold Jewelry
For your gold jewelry, you will always have a buyer in a jeweler, pawn broker, scrap gold dealer or gold refiner.  They will purchase your jewelry primarily based on the weight of the gold they contain at the current prevailing market rate less handling fees, in most cases.  These buyers will extract the gold and other valuable materials and either resell them for profit or use them for other gainful purposes.  In some cases, you will have the option to get the cash or trade your jewelry for other items that you may prefer.
The volume of gold in jewelry is expressed in karats.  Jewelry in solid gold has 24 karats.  You will get a lot more money if you have 24 karat gold jewelry and you sell your gold for cash than if you sell other jewelry with less gold content.  This is because jewelry with less gold in them may have more hardening agents and other metals aside from pure gold.  Except for a few exceptions, most other metals or stones do not have any resale value at all.
It may be interesting to note that a piece of jewelry’s gold content is usually inscribed or marked on it discreetly, sometimes on the inside of a bracelet or ring, at the back of an earring, or on the necklace clip.  Thus, you may find the words “22 karat, or “22 / 24” or “22k” in tiny lettering written on 22 karat jewelry.  Although there is really no guarantee that what you see inscribed is really what you are getting, the reputation of the dealer you get the jewelry from is normally a good indicator.
A good tip to remember: the less gold a piece of jewelry contains, the less valuable it will be for anyone who will melt it down.  When you purchase jewelry from a store, you actually pay for the craftsmanship and design, and other precious metals that may be incorporated into the jewelry. A finely-crafted and well-designed jewelry may actually have a higher resale value as “estate” jewelry than when recycled.  So if you think your jewelry may have those qualities, better have them appraised first before selling.
But as most gold buyers are not interested in paying for other stones, with the exception of course of diamonds, it is advisable to remove them yourself or ask the buyer to remove them before turning the jewelry over.  Most of these buyers are only interested in gold, anyway.
Good candidates for meltdown are the heavy gold chains and bracelets that were a big hit among men in the 1970s.  If you intend to get fast cash for gold jewelry like these in their original state, forget it as they are way, way out of fashion.  The better ones that are made of solid gold, however, have substantial value because of their gold content.  In fact, they may even be worth a lot more than the amount paid for them way back in the Age of Aquarius.
What about Gold Coins?
If someone leaves you his coin collection with some gold coins as inheritance, you can sell them for melting.  However, it is always wise to have them appraised first so you will know what to expect.  To get an honest appraisal, go to a coin dealer who is preferably a member of the American Numismatic Association.  This is because ANA members observe a certain code of ethics and they will be able to tell you upfront whether your gold coins are more valuable as is or as gold bullion.
Several factors are considered when evaluating gold coins. For one, in times when the price of gold is very strong, some gold coins may be worth more for their bullion than as coins depending on authenticity, rarity, and current condition.  Because a lot of people would be quick to take advantage of the situation, finding a good dealer, one that has build a solid reputation in the industry and is known to fairly buy and sell gold jewelry and coins, is important.  Asking for second opinion is also encouraged.
Valuing Your Gold
Before approaching a buyer, it is best that you have a clear idea of what you are selling, lest you get burned.  Usually, gold transactions are done in terms of pennyweights.  One troy ounce of gold is equivalent to 20 pennyweights, or DWT.  As most gold jewelry are not made of pure gold, it is important to find out how much gold content your jewelry contains then multiply the resulting percentage by the value expressed in pennyweights.  24 karat gold is 100%.
Dental gold such as fillings, teeth, crowns are bridges are normally 16k gold and you can get cash for them as well.  Some may even contain platinum which is actually more valuable than gold.  As it may be more difficult to value other metals than gold, having them appraised first would be a good idea. Medallions, religious items, and other things with gold can be sold as well.
Current times are difficult and it is during situations like these when scammers proliferate both online and offline. When you sell old gold jewelry, therefore, always remember to exercise the right amount of caution to avoid being scammed.