The Gold market is all over the place. In the last Ten Years we have seen gold go from around $450 an ounce to $1800 an ounce and back down under $1200 an ounce. If you were one of the lucky ones, you bought your gold in 2005 and sold at the end of 2011. You bought a mere 3 oz of gold @ $450 an ounce and then sold them @ $1800 an ounce. What cost you $1350 you could have sold for $5400 and have made $4050 profit. That is if you were one of the lucky ones that bought gold, had it since then, and sold it at the right time.
Times have changed. Gold is not a get rich quick investment any more. Gold is still a good investment and has proven to be so long term.
Since 2013 Gold has been on a Downward Trend, So is now the Right Time to Sell Gold?
1. Yes, if you have broken or unwanted scrap gold. Jewelry that you no longer wear, pieces that are more expensive to repair than what you paid for them, engagement rings from a divorce, etc.
2. Yes, if you have coins or bars that you bought as an investment and paid less for them than what they are worth today.
3. Yes, if you have inherited gold from an estate. Laws are only getting worse when it comes to moneys earned from an estate.
4. Maybe, if you have a need for some extra money. Your jewelry may be worth more than you think right now.
5. Maybe, if you bought gold as an investment when it was really high and you are upside down on it but want the cash back for short term gains.
6. No, if you bought gold as an investment when it was really high and you are upside down on it if you can wait for the market to return.
7. No, if your gold is worth more than any price that can be but on it. Money can’t replace grandma’s heirloom ring.
So is now the time to sell your gold. Ask yourself, Do you want to wait and see or do you want to know that you are getting a fair price for your gold based on today’s market. Call Tidewater Diamond today and set an appointment for a free quote on your gold. Or visit us at 200 Battlefield Blvd N #3 in Chesapeake, VA. Walk-ins are always welcome.
Finding the right place to sell your diamond engagement ring can be difficult. Many places will buy your engagement ring including gold buyers, pawn shops, consignment stores, jewelry stores, and even private buyers through eBay or Craigslist. Learn tips on how to sell an engagement ring and where to look to get the best offers.
Most gold buyers are interested in your gold only. They know the value of the gold and will make you an offer based on the gold value. They may not even be interested in your diamond. Also some gold buyers may lack the knowledge and expertise to grade or value your diamond. Pawn shops will buy just about anything to make a buck. They want to lend you money on your engagement ring. You will make monthly payments to get your ring back (if you fail to make a payment they get to keep your ring) or they will buy it out right. They also often do not have the connections in the jewelry industry or have a large client base to sell your diamond to at top dollar. Consignment stores offer to sell your engagement ring for you. They take a percentage of the sale after they sell the ring to one of their customers. This means you may be waiting a long time to get paid. And when was the last time you looked for an engagement ring at a consignment store?
Not all jewelry stores buy jewelry. Almost all of the large jewelry chains will only take their items back for a trade in discount. Other large companies may take outside trade ins but require you to double the trade in discount on your new purchase.
If you choose to sell the ring yourself through online markets like eBay or Craigslist it is your responsibility to market and sell your item. eBay will take a percentage of your sale and you will be required to pay to ship your item. It does not cost much but it will still reduce how much you receive for your ring. With Craigslist there are scams and security issues to deal with. You will be asking a person you have never met before to bring a large amount of cash to buy your item. You will also be required to show them your ring in a public setting. You also still have to market and sell your ring by yourself.
The best place to sell your ring and get paid immediately for it is an independent jewelry store. Most independent jewelry stores will make you an offer on your engagement ring. They can resell the item as it is. They can do any repairs or maintenance that is needed on the ring. They can also remove the diamond and certify it, selling it as a loose diamond to retail or wholesale customers. What makes Tidewater Diamond Fine Jewelers a great place to sell your diamond engagement ring to is the following.
- It is our business, it is what we do best.
- Our staff has over 100 years of experience combined in the jewelry industry.
- We sell new and pre-owned jewelry to a large customer base.
- We have a GIA Graduate Gemologist and two GIA Accredited Jewelry Professionals available.
- We travel a lot- Our Owner Ryan Mitchell is in New York, the diamond capital of the United States, often.
- We have tons of connections in the diamond industry, allowing us to give you a strong offer on your ring.
- We have resources to help you know the value of your ring.
Call us today at 757-548-1258 or Visit our Chesapeake Jewelry Store
If you have coins to sell you are going to want to know some basic things about coins first. Here are some quick things to remember. Sell gold coins for top dollar.
Know the market
Most coins are sold for the Intrinsic Value (The value of the gold content in the coin). If you have a one ounce gold coin it is usually worth the value of one troy ounce of gold. This also works for silver coins as well. The bid price (often called Spot Price) is used at the moment the coin is sold. Check the Market.
Know how coins are sold
Coins are sold to collectors and investors either one at a time or in bulk. When items are sold in bulk they are usually intrinsic coins. Intrinsic coins are often sold on low profit margins with higher bulk. Coins with Numismatic Value (Coins that have more value than the intrinsic value due to low mintage, rarity, low supply, or high demand) are often sold in low quantities for higher profits. Numismatic Coins also take longer to sell, finding the right buyer, and are often held from the market until in collections. When you sell coins you are selling to either a company that will sit on the coins until they are sold or a company that will sell them quickly. Retail coin shops rely on there coins for larger margins and will pay less for intrinsic coins to cover market fluctuations until the coins sell. We have a buyer for your coins before you leave the store. Since we can sell your coins immediately we will pay a higher percentage for your coins.
Know what you can get
For intrinsic silver, gold, and Platinum coins you can usually receive 80-95% of the market value of that metal. Example: If Gold is at $1200 an ounce you would receive $960-$1140 an ounce. The percentage will vary based on the volume of coins sold as well as the origin of the coin. US gold, silver, and platinum coins can be sold at higher values. This means you should receive more when they are sold. US gold and silver proofs are also more valuable. For these items with the original book and papers you could possible receive more than the spot price depending on the demand at the time. Numismatic coins are priced individually. Some common Numismatic US coins are Morgan Silver Dollars and Peace Silver Dollars. Contact Us
List of Silver US Coin Dates
- Halves, Quarters, and Dimes 1964 and before are 90% Silver
- Kennedy Halves between 1965-1970 are 40% Silver
- War Nickels Some 1942 and all 1943-1945 are 35% Silver
- Spot- Bid price for gold, silver, or platinum
- Intrinsic Value- The current value of the metal or value of the coin
- Face Value- The actual spending value of the coins; Quarter= 25 cent, Dime= 10 cent, etc.
- Numismatic Value- a value above the intrinsic value
- ASW- Actual Silver Weight, the silver content of the coin usually in Troy ounces
- AGW- Actual Gold Weight, the gold content of the coin usually in Troy ounces
- .999- The marking used for .999% Silver or Gold
Black Diamond Engagement Rings are gaining popularity. They are mostly found in white gold giving you a black and white look but you can find them in some cases in other metals. These rings usually have 1/2 carat to a 1 carat center stone.
The cut of choice is a round diamond. The round diamond allows for good durability. You can also find these with a rose cut diamond. A rose cut diamond is similar to a round but has a pretty crown that really accents the beauty of a black diamond. You can find them with or without halos.
They are found in traditional, antique, and modern settings, with antique styles being the most popular. Designers like Romance have a few engagement rings devoted to this trend. With the gained popularity of all colored diamonds do not be afraid when you are looking at diamonds and engagement rings to ask for this beautiful dark and shiny black gemstone.
One other note about black diamonds. There are other gemstones out there that can give you a similar look like black onyx and jet. Just remember that these gemstones will not be as durable and with have less luster. Jet a popular gemstone from the past is not as popular now and most jewelers will not know about the gemstone. Jet is an organic gemstone originating from decaying wood under extreme pressure.
If you are looking for something new and trendy or just trying to connect with the jet jewelry of the past, a black diamond engagement ring might just be in your future.